Bright-line Test Bill Progresses

by Desk Editor on Wednesday, November 11, 2015 — 7:53 AM

The committee stage of the Taxation (Bright-line Test for Residential Land) Bill was completed without amendment.

This Bill introduces amendments to the Income Tax Act 2007 and the Tax Administration Act 1994. The policy of the Bill is to improve compliance with the current land sale rules in the Income Tax Act 2007.

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