Tax and your property transactions
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Tax and your property transactions
Form Number: IR361 / Form Code: IR361
About this Guide
This guide gives an overview of possible tax issues related to property transactions, but isn’t a comprehensive property tax resource. We recommend you talk to a tax professional if your situation
isn’t covered in this guide or you’re unclear about anything.
When to use this guide
Any of these situations could apply to a property transaction. You:
- make a gain or loss from property speculating or dealing
- move from property investment into property dealing when prices are rising
- are a property dealer and you hold and rent properties during a downturn
- are a first-time landlord and don’t think about the tax implications of renting your property
- are a shareholder or an owner of an interest in a look-through company (LTC) or partnership that
- owns a rental property
- buy an investment apartment with a managed lease and later change the rental arrangements or sell it
- sell a rental property you’ve claimed depreciation on
- become a dealer because you’ve made a number of purchase and sale transactions
- apply for GST registration when you buy property for dealing or speculation
- purchase a property on or after 1 October 2015 through to 28 March 2018 inclusive and sell it within two years
- purchase a property on or after 29 March 2018 and sell it within five years
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