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The tax rules apply to investment properties, not your own home.
So you are fine in respect of the 2 year bright line test.
Outside of that the normal rules apply.
So as long as you live their and improve it for your lifestyle and then latter decide to sell and move up the property ladder, you should be fine.
If your intention is to make profit doing that continually, then IRD might come calling.
I believe their is no set rule on the number you can do, but if you did "quite" a few, I suggest you should make sure you have documented intentions.
If your intention, is to live in while you renovate and then sell as soon as reno completed, then I would say IRD have a fair case to suggest you are entering into the transaction to make money and should be taxed.
Always best to seek independent advice from "Property Accountants".
So you are fine in respect of the 2 year bright line test.
Outside of that the normal rules apply.
So as long as you live their and improve it for your lifestyle and then latter decide to sell and move up the property ladder, you should be fine.
If your intention is to make profit doing that continually, then IRD might come calling.
I believe their is no set rule on the number you can do, but if you did "quite" a few, I suggest you should make sure you have documented intentions.
If your intention, is to live in while you renovate and then sell as soon as reno completed, then I would say IRD have a fair case to suggest you are entering into the transaction to make money and should be taxed.
Always best to seek independent advice from "Property Accountants".
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