This icon () tells you which link takes you to the new site.
From 29 March 2018, the bright-line test that is used to determine if you have tax to pay on the sale of residential property has changed.
If you entered into an agreement to purchase residential property on or after 29 March 2018 and sell it within 5 years, you’ll need to consider if it is taxable under the bright-line test. If a property was purchased on or after 1 October 2015 through to 28 March 2018, the bright-line test will look at whether the property was sold within 2 years.
The bright-line test doesn’t apply if the property was:
The RLWT criteria has changed as a result of the extension of the bright-line test. From 29 March 2018, the sale of New Zealand residential property by an offshore RLWT person may now be required to have RLWT withheld if it is sold within 5 years of purchase. This will only apply to properties where an agreement to purchase was entered into on or after 29 March 2018.
With this extension, RLWT will apply if: