The bright-line test changed significantly from 1 July 2024 — back to 2 years for all residential property. But the old 5-year and 10-year rules still apply to properties sold before that date, and the "intention test" still applies regardless of how long you've held a property.
The bright-line test is New Zealand's version of a short-term property gains tax. It taxes the profit from selling residential property if the property is sold within a set period after purchase — regardless of whether you intended to make a profit.
Unlike an income tax on trading profits (which requires proof of profit intention), the bright-line test is automatic: if you sell within the period, the gain is taxable. If you sell outside the period, the bright-line test does not apply — though the intention test may still catch you.
The test applies to residential land in New Zealand, and also to NZ tax residents who buy and sell overseas residential property.
For property sold on or after 1 July 2024, the bright-line test looks at whether your bright-line end date for the property is within 2 years of your bright-line start date. This applies regardless of when the property was purchased — the key date is the sale date.
Bright-line start date: Generally the date legal title transfers to you (settlement date). But for off-the-plan purchases, subdivisions, or changes in co-ownership, the start date can be earlier than you expect — sometimes as early as the date the contract was signed.
Bright-line end date: The date you enter into the sale and purchase agreement — NOT the settlement date. This catches many sellers by surprise: even if settlement is after the 2-year mark, the clock stops when you sign the agreement.
If you sold a property before 1 July 2024, the period that applied depended on when you bought it:
| Property acquired | Sold before 1 Jul 2024 | Sold on/after 1 Jul 2024 |
|---|---|---|
| Before 29 Mar 2018 | No bright-line | No bright-line (over 2 years) |
| 29 Mar 2018 – 26 Mar 2021 | 5-year rule applies | 2-year rule applies |
| 27 Mar 2021 – 30 Jun 2024 (standard) | 10-year rule applies | 2-year rule applies |
| 27 Mar 2021 – 30 Jun 2024 (new build) | 5-year rule applies | 2-year rule applies |
| 1 Jul 2024 onwards | N/A | 2-year rule applies |
If you bought a standard residential rental property between 27 March 2021 and 30 June 2024 and you sell it before 1 July 2024 — the old 10-year rule applies. But if you sell on or after 1 July 2024, only the 2-year rule applies. Many investors who bought during this period are now outside the bright-line test entirely. Get advice before you sell to confirm your position.
If the bright-line test applies, your taxable gain is calculated as:
Taxable gain = Sale price − Cost base − Allowable deductions
The cost base includes the original purchase price plus acquisition costs (legal fees, due diligence costs). Allowable deductions include capital improvements, selling costs (agent fees, legal fees), and — from 1 April 2025 — interest is now fully deductible on residential rental property.
The taxable gain is added to your other income for the year and taxed at your personal marginal rate. Because property gains are added to your regular income, a significant property profit can push you into a higher tax bracket.
You buy a rental property in March 2024 for $650,000. You sell it in January 2026 (within 2 years) for $750,000. Your other income is $90,000.
Sale proceeds: $750,000
Less: Purchase price $650,000 + legal fees $3,000 + agent fees $14,000 = $667,000
Taxable gain: $83,000
Your total income: $90,000 + $83,000 = $173,000. The gain is taxed at 33% (the bracket for $70,001–$180,000), resulting in approximately $27,390 in tax on the property gain alone.
Had you sold in April 2026 (after the 2-year mark), the bright-line test would not apply — saving $27,390.
Your main home — the property where you live most of the time — is generally excluded from the bright-line test. This is the most important exemption and covers the vast majority of owner-occupier sales.
However, the exclusion is not automatic in all cases. It does not apply if:
Where the property has been used partly as a main home and partly for income (e.g. rented for 18 months, then moved in), an apportionment applies — the gain is split between the taxable period and the exempt period based on the proportion of time.
This is the most important thing many property owners don't know: even if you are outside the bright-line period, you may still owe tax on a property sale.
The intention test (under the Income Tax Act 2007) taxes property gains where the property was acquired with an intention — even a partial intention — to profit from its sale. This applies regardless of how long you held the property.
Common situations where the intention test can apply:
The bright-line test is designed to be clear and automatic. The intention test requires judgment. This is why getting advice before you sell — not after — is so important.
This is a significant change that benefits all residential rental property investors. The previous government phased interest deduction out and removed it entirely from 1 April 2021. However, the current coalition government phased it back in — from 1 April 2024, 80% of interest was deductible; from 1 April 2025, interest is fully deductible.
This means that from the 2025–26 tax year, all mortgage interest on residential rental property can be claimed as a deduction against rental income — including for properties that are subject to the bright-line test.
This article provides general tax information only. Bright-line rules are complex and depend heavily on specific dates, usage, and individual circumstances. Please consult a qualified tax adviser — like FinLink Advisory — before selling any property. Getting advice before you sign the agreement is always more effective than after.
明线测试自2024年7月1日起发生重大变化——所有住宅类房产统一回归2年期。但旧有的5年和10年规则对此前出售的房产依然适用，而"意图测试"则无论持有时间长短都可能适用。
明线测试是新西兰版本的短期房产收益税。它对在购买后特定期限内出售住宅类房产所获得的利润征税——无论你是否有意图从中获利。
与需要证明盈利意图的所得税不同，明线测试是自动适用的：如果在期限内出售，收益即须纳税。如果超出期限出售，明线测试不适用——但意图测试仍可能将你纳入征税范围。
该测试适用于新西兰的住宅类土地，同样适用于在海外购买和出售住宅类房产的新西兰税务居民。
对于2024年7月1日或之后出售的房产，明线测试考察的是你的明线结束日期是否在明线开始日期起2年内。这适用于所有房产，无论购买时间。关键日期是出售日期。
明线开始日期：通常是产权正式过户给你的日期（交割日）。但对于期房购买、土地细分或共有权变更，开始日期可能比你预期的更早——有时早至签署合同的日期。
明线结束日期：你签署买卖协议的日期——而非交割日期。这一点让许多卖家感到意外：即使交割日在2年期之后，只要签署协议的日期在2年内，明线测试仍然适用。
如果你在2024年7月1日之前出售了房产，适用的期限取决于购买时间：
| 房产购买时间 | 2024年7月1日前出售 | 2024年7月1日起出售 |
|---|---|---|
| 2018年3月29日之前 | 无明线测试 | 无明线测试（超过2年） |
| 2018年3月29日–2021年3月26日 | 适用5年规则 | 适用2年规则 |
| 2021年3月27日–2024年6月30日（普通住宅） | 适用10年规则 | 适用2年规则 |
| 2021年3月27日–2024年6月30日（新建房） | 适用5年规则 | 适用2年规则 |
| 2024年7月1日起 | 不适用 | 适用2年规则 |
如果你在2021年3月27日至2024年6月30日之间购入了普通住宅出租房产，并在2024年7月1日之前出售，旧有的10年规则适用。但如果你在2024年7月1日或之后出售，则仅适用2年规则。许多在此期间购入的投资者现在已完全超出明线测试期限。出售前务必咨询专业建议以确认你的具体情况。
如果明线测试适用，你的应税收益计算如下：
应税收益 = 出售价格 − 成本基础 − 可扣除支出
成本基础包括原始购买价格加上购置成本（律师费、尽职调查费用）。可扣除支出包括资本性改良工程、出售成本（中介费、律师费），以及自2025年4月1日起的完整利息支出。
应税收益加入你当年的其他收入，按个人边际税率征税。由于房产收益与你的常规收入合并计算，大额收益可能将你推入更高税级。
你在2024年3月以$650,000购入一套出租房产。2026年1月（2年内）以$750,000出售。你的其他收入为$90,000。
出售所得：$750,000
减：购买价格$650,000 + 律师费$3,000 + 中介费$14,000 = $667,000
应税收益：$83,000
总收入：$90,000 + $83,000 = $173,000。该收益适用33%税率（$70,001–$180,000税级），仅这笔房产收益就须缴纳约$27,390的税款。
若在2026年4月（超过2年后）出售，明线测试不适用——节省$27,390。
你的主要居所——你大多数时间居住的房产——通常可以豁免明线测试。这是最重要的豁免，涵盖绝大多数自住业主的出售情况。
但豁免并非在所有情况下都自动适用。以下情况不适用：
如果房产部分作为自住房、部分用于创收（例如出租18个月后搬入自住），则需要进行按比例分摊——按时间比例将收益分为应税部分和豁免部分。
这是许多房产持有人不知道的最重要一点：即使超出明线期限，你仍可能须就房产出售缴税。
意图测试（依据2007年《所得税法》）对以下情况的房产收益征税：房产是以出售获利为目的（哪怕只是部分目的）购入的。这一规则适用，无论你持有房产多长时间。
意图测试常见适用场景：
明线测试的设计初衷是清晰和自动的。意图测试则需要主观判断。这正是为什么在出售之前——而非之后——寻求专业建议如此重要。
这是对所有住宅出租房产投资者都有重大利好的变化。前任政府逐步取消了利息扣除，并于2021年4月1日完全禁止。现任联合政府则逐步恢复——自2024年4月1日起，80%的利息可以扣除；自2025年4月1日起，利息可以完全扣除。
这意味着从2025–26税务年度起，住宅出租房产的全部抵押贷款利息均可作为租金收入的扣除项——包括适用明线测试的房产。
本文仅提供一般性税务信息。明线规则较为复杂，在很大程度上取决于具体日期、使用情况和个人情况。在出售任何房产之前，请咨询具备资质的税务顾问——例如FinLink Advisory。在签署买卖协议之前寻求建议，永远比之后更有效。