The National Government still has time to extend the bright line test to five years to better curb rampant housing speculation, the Green Party said today. National’s “bright line” rules will apply tomorrow, requiring income tax to be paid on any gains from residential property purchased and sold within two years, with some exceptions.  The exceptions include the sale of an owner’s main home, inherited property, or the transfer of property in a relationship settlement. “National’s moves to clarify the...

Green Party Co-leader Metiria Turei is launching her Residential Tenancies (Warm, Safe and Secure Rentals) Amendment Bill today, which will instigate a warrant of fitness for all rental homes, and encourage longer, more secure tenancies. “The million-odd New Zealanders who rent the homes they live in will greatly benefit from this Bill,” said Green Party Co-leader Metiria Turei. “Renting is a fact of life for more than a third of all Kiwi households, yet they have so far been largely...