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Inland Revenue

Tax Policy

PUBLISHED 16 September 2019

Feedback sought on rules for taxing certain land sales

The rules that tax certain sales of land contain exclusions from tax for people who use that land as their main home, residence or business premises. However, these exclusions are not meant to apply where the taxpayer has a “regular pattern” of buying and selling land used as a main home, residence or business premises.

A tax policy consultation document, Habitual buying and selling of land, was released today because there are concerns that the current regular pattern restrictions are not working as intended. The document discusses those concerns and proposes possible solutions. Submissions close on 18 October 2019.