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Buying And Selling Residential Property (IR 313)

This guide explains income tax implications when selling a property. It explains a taxpayer’s responsibilities and helps to decide what other information a taxpayer might need and when to get professional advice.

The information in this guide is primarily aimed at individuals. IRD suggests builders, developers, dealers and those in business relating to land to seek advice from tax professionals as different rules may apply.

Property Tax Accountant NZ

Property tax can be complex. The unique situation of each property transaction needs to be considered when working out any tax implications.

Amounts derived from disposing of land will be taxable if any of the sections from CB 6A to CB 15 of the Income Tax Act 2007 apply. These provisions deal specifically with the taxation of land transactions. A summary of the sections can be found here.

Certain exemptions may apply under the land taxing provisions. This includes residential land, business premises, farmland, and investment land exclusions.

Buying And Selling Residential Property – IR 313

IR 313

Please note the guide(s)/form(s) were the latest version at the time this web page was finalised. If you need the latest form/guide, please visit IRD’s website at here.

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