Quote Originally Posted by westerly View Post
Really? Quote from "newsroom " article.

"Currently, regular 'Mum and Dad' investors know that leveraged investments in property are not subject to capital gains, unless they are in rental properties sold within two years of purchase. ......westerly
Quite correct. UNLESS they are deemed to be a trader within the IRD definition. In which case they are liable for income tax on profit on sale. Which is what fungus pudding said.