Bright-line Rule is Changing

Hear from Dermot Kelly - The Unitary Plan Man ®

PART ONE

As the dynamics of the real estate market continue to evolve, it is important that we staying abreast of the latest legislative changes and sharing what we know with you.

From 1 July 2024 the bright-line period will undergo a significant reduction, shrinking from 10 years (or five years for new builds) to just two years.

This means that individuals selling a property post-July 1st, 2024, will only face the Bright Line rule and associated tax obligations if the property changes hands within two years of its purchase.

We are expecting to see a surge in property listings, driven by owners seeking to capitalize on the new regulations. 

Consider listing your property now if you're contemplating a sale and aren't impacted by the bright-line test. Avoid getting lost in a sea of listings by acting before the market becomes saturated with sellers.