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IR833 Property sales tax rules

When you sell a property you need to work out if any profit you make is taxable. You can use a number of tests to work out if your property sale is taxable.

Property sales may be taxable if:

  • the property was acquired with a purpose or intention of selling it

  • you’re in or associated with the property industry

  • you have a history of buying and selling property.

A new test (the “bright-line test” for residential property) has been introduced for property acquired on or after 1 October 2015. Taxable property sales may include residential property sold or disposed of within two years of buying, even if there was no intention of resale.

Use this form to record all types of taxable property sales.

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