8 September 2016

Tax Law

Current Property Tax Issues Guide

Over the past 12 months, the Government has introduced a package of tax reforms targeting land dealing activities. These are:

• A requirement for parties involved in any transfer of land to provide tax statements (effective from 1 October 2015);

• A specific income tax provision for gains realised from the sale of residential land within two years of its acquisition ("bright-line test") (also effective from 1 October 2015); and

• A residential land withholding tax (RLWT) to buttress the bright-line test (effective from 1 July 2016).

Simpson Grierson's tax work group has prepared a comprehensive guide on these measures.

Please click the link below to view the guide:
Property Tax Issues Guide