Selling your house: You may need to pay tax on any profit you make

You may need to pay tax on any profit you make on a property’s value when you sell it. It depends if you bought the house:

• from 29 March 2018 and you sell it within 5 years of buying it

• from 1 October 2015 to 28 March 2018 and you sell it within 2 years of buying it.

You will not need to pay tax if:

• the house is your main home

• you’ve inherited the house, or

• you now own it because of a relationship break-up.

#Source: IRD