KiwiBuild homesellers who break the rules can keep 70% of any capital gain

Thu, 08 Nov 2018

By Pattrick Smellie Nov. 8 (BusinessDesk) - A KiwiBuild homebuyer who sells their house without permission from the government within three years of buying it will hand over to the state 30 percent of any capital gain they make on the sale, says Housing Minister Phil Twyford. But there will be a get-out clause for people who have to sell in a difficult situation like a death, illness or relationship break-up. Responding to a Newshub story highlighting the ability to keep any part of the capital gain from such a sale, Twyford said buyer...

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