The Employment Relations Amendment Act 2018 (the Amendment Act) has received royal assent, meaning it has passed into law. Some provisions of the Act have taken effect already, with the remainder to take effect on 6 May this year.
Warning: Sell residential property within five years and you could now be taxed. The bright-line test extension is live!
The government has now passed legislation that extends the bright-line test from its original two years to five years. This means that before you consider selling any property within five years of purchase you should consider the effect of this law before you proceed.