The Bright-Line Test: Do You Need to Pay Tax on Your Property Sale?

Posted on 08/02/2018 by Smith and Partners

If you (or your trust) sell a residential property after owning it for less than two years, or subdivide it after owning it for less than a year, you might have to pay tax on the sale. Tax law expert, Bret Gower explains what the Bright-Line Test is, how it works and how to ensure you don’t get caught out when selling property in What Is The Bright-Line Test For Residential Property?