If you’re not going to live in the property you own, are you better off renting it out or selling it? Will this make it easier for first-time homeowners to buy property?
There are many questions surrounding the bright-line test. You will have heard a lot of discussion about it in the news recently. It’s been around for years. However, recent changes have been made to it that are intended to slow down the real estate market to help prospective new homeowners get on the property ladder. In short, the government is hoping to deter property investors from pushing prices up. This is by taxing people who profit from buying and selling property.
Hence, we thought we’d answer a few frequently asked questions here to help you make informed decisions about how the recent changes to the bright-line test may affect you.