Housing: Government to double bright-line test and end interest writeoff in war on property speculation, will spend $3.8b on new supply

A Stuff article.

The Government will double the ‘bright-line test’ on residential property and spend billions attempting to accelerate housing supply in a huge package of policies aimed at increasing housing affordability.

The bright-line test – an effective capital gains tax on investment property – will be extended from five to 10 years, meaning profits from the sale of property could be hit with a tax of up to 39 per cent.

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