The property tax rules changed on 1 October 2015. If you’re buying or selling a property visit Inland Revenue's changes to property rules page [link no longer current, links to Internet Archive] to find out what you need to know and do.
The Tax Information Bulletin Volume 28, No 1, February 2016 includes detailed analysis of the legislation.
Note: Since this legislation was enacted in 2015 the property tax rules have changed – visit www.ird.govt.nz for current information on the rules that now apply.
| Stage before Parliament | Date |
|---|---|
| Introduction | 24 August 2015 |
| First reading | 27 August 2015 8 September 2015 |
| Closing date for submissions | 17 September 2015 |
| Presentation/report back | 20 October 2015 |
| Second reading (report back debate) | 3 November 2015 |
| Committee of the whole House | 10 November 2015 |
| Third reading | 12 November 2015 |
| Assent | 16 November 2015 |
| Related announcements | Date |
|---|---|
| “Bright-line” tax bill introduced | 24 August 2015 |
| Bright-line bill passes first reading | 9 September 2015 |
| Bright-line bill reported back | 20 October 2015 |
| “Bright-line” tax bill passes 2nd reading | 4 November 2015 |
| Bright-line bill passes | 12 November 2015 |
| Bright-line bill enacted | 16 November 2015 |
| Special report: new bright-line test | 18 November 2015 |
| Related publications | Date |
|---|---|
| Bill as introduced | 24 August 2015 |
| Departmental disclosure statement | 24 August 2015 |
| Regulatory impact statement - Bright-line test for sales of residential property | 24 August 2015 |
| Commentary on the Bill | 24 August 2015 |
| Bill as reported back | 20 October 2015 |
| Officials' report on submissions | 20 October 2015 |
| Taxation (Bright-line Test for Residential Land) Act 2015 | 16 November 2015 |
| Special report on the bright-line test for residential land | 18 November 2015 |
| Changes to property tax rules [link no longer current, links to Internet Archive] |
November 2015 |
| Tax Information Bulletin – Vol 28 No 1 | February 2016 |