New Zealand finance minister English said on Sunday the NZ government will tighten tax rules on residential property.
Via Bloomberg:
- From October 1, gains on residential property sold within two years of purchase will be taxed unless it is the seller's main home, inherited from a deceased estate or transferred as part of a relationship property settlement
- Non-resident buyers must have a New Zealand bank account and Inland Revenue tax identification number
Last week the RBNZ announced measure to target property investors in Auckland
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