[vc_row el_class="sec"][vc_column][vc_single_image image="2675" img_size="full" alignment="center"][vc_custom_heading text="Brightline Property Rule Effective 1st July 2024" use_theme_fonts="yes"][vc_column_text]If you dispose of a residential property within a certain timeframe of purchasing it, you might be liable to pay income tax on any profit from the transaction, unless specific exclusions or rollover relief provisions are applicable. This requirement extends to New Zealand tax residents selling residential properties situated overseas.[/vc_column_text][vc_column_text]For more information, please see the below link, published by Inland Revenue. [/vc_column_text][vc_column_text]https://www.ird.govt.nz/property/buying-and-selling/when-you-need-to-pay/the-brightline-property-rule[/vc_column_text][/vc_column][/vc_row]