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Technical tax area Ngā tūmomo whakataunga me ngā aratohu

QB 18/16: Income tax - bright-line test - main home exclusion - sale of subdivided section

The bright-line test for residential land taxes residential land sold within the bright-line period. This QWBA explains that a subdivided section sold within the bright-line period will be excluded from the bright-line test for residential land when more than 50% of the area of the land in the subdivided section has been used for a dwelling that was the seller’s main home; and the seller has used the land in the subdivided section in that manner for more than 50% of the time since the seller acquired the undivided land.

Date of issue: 19 December 2018

QB18/16 - PDF format (573kb | 7 pages)

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