There's doubt IRD will be raking it in, from house flippers who've avoided tax
There's doubt IRD will be raking it in, from house flippers who've avoided tax
30 October 2019
It's proposing a law change to nab quick-sellers who do transactions through spouses, relatives or family trusts, to avoid paying tax.
OneRoof editor Owen Vaughan says some flippers made massive profits in Auckland's last boom, but it wasn't extensive.
He says obviously people who aren't paying their taxes should be targeted and penalised.
But Vaughan doesn't think it's a measure that will take the heat out of the property market.
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