Investment Property Changes

If you own an investment property, or are offering short-term accommodation via AirBnB or similar, then it’s likely you’ll already know all about new Tax rules introduced on 1st April and the upcoming Brightline changes 1st July. If not, we suggest you take a look at the following articles.

I have also summarized it for you below :

INVESTOR INFORMATION

Bright-line property rule:

For properties sold on or after July 1 2024, the bright-line property rule will only apply if the property is sold within 2 years of purchasing it. For properties sold before July 1 2024, the current bright-line periods will continue to apply.

From April 1 2024, the ability to claim interest deductions will be phased back in:

April 1 2024 - March 31 2025 | 80% of interest that can be claimed.

April 1 2025 onwards | 100% of interest that can be claimed.

There will be no change for the period April 1 2023 - March 31 2024.

App-Tax/GST Changes for Short Term rentals https://www.findex.co.nz/insights/article/app-tax-and-gst-changes-for-short-term-rentals

 Interest Deductibility, Depreciation and Brightline changes explained here https://www.findex.co.nz/insights/article/nz-property-tax-changes-explained

Disclaimer:The information contained in this publication is general in nature and is not intended to be personalised advice. Before making any decisions, you should consult a professional adviser. Quest Real Estate believes the information herein is correct, and it has reasonable grounds for any opinion or recommendation contained within the date of this publication. Nothing is or should be taken as an offer invitation or recommendation to buy or sell. Quest Real Estate accepts no responsibility for any loss caused as a result of any person relying on this information.