Adele Beatson’s in-laws want to sell the Nelson property they bought for the couple two years ago to them, but the bright-line test rules mean the transaction will incur big taxes. ROBERT KITCHIN/Stuff Prime Minister Jacinda Ardern announced the Government’s new property tax policies, which included the extension of the bright-line test, in March. “The extension of the bright-line period is only going to make things worse. And divorce lawyer Jeremy Sutton said the new property tax rules could also have consequences for couples going through a relationship break-up. If this includes two (or more) properties, usually they will keep one each or sell the secondary property, and if a property falls within the bright-line test, there are tax implications.

Source: Stuff August 18, 2021 16:52 UTC