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New Zealand proposal to revise taxation of certain real estate sales

A proposal to tax the sale of a person’s main home or business premises where there is a pattern of buying and selling land.

The New Zealand Government has released a consultation document on the rules for taxing land sales which includes a proposal to tax the sale of a person’s principal home or business premises when there is any pattern of buying and selling land.Earlier this year, in its response to the Tax Working Group’s final report, the NZ Government ruled out a comprehensive capital gains tax, as well as a more targeted option for land. However, Officials were asked to look at whether the current tax rules...

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Authors: John Cantin, Darshana Elwela

Published Date: 24 September 2019

 

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