scoop.co.nz 17 Mar, 2021 08:45 am

Scrap the Bright Line Cap

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March 17, 2021 Justice Press Release – Tax Justice Aotearoa Tax Justice Aotearoa supports the call from the Green Party of Aotearoa New Zealand to scrap the five-year cap on the Bright Line test, so that investors who sell a residential property that is not their primary home pay tax on their profits.Tax Justice Aotearoa supports the call from the Green Party of Aotearoa New Zealand to scrap the five-year cap on the Bright Line test, so that investors who sell a residential property that is not their primary home pay tax on their profits.Louise Delany, Tax Justice Aotearoa Chair says, “Every person deserves a warm, safe house to live in with dignity.” Contributing to this problem is the fact that property investors pay no tax on the income they gain when they sell a house after five years.

“Just like we all pay tax on our income, so too should property investors”, says Delany.One way of doing this is to scrap the bright line cap and we urge the Government to take-up this policy.

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