The Prime Minister seems to have narrowly avoided a large tax bill for selling his Wellington apartment.

He paid $795,000 for it in 2020, and 1News reports it's been sold for $975,000.

When it was purchased, a five-year bright-line test applied - under which Luxon would have owed $70,000 in tax.

ZB senior political correspondent Barry Soper says Luxon seems proud to defend this apartment sale.

LISTEN ABOVE

The Prime Minister seems to have narrowly avoided a large tax bill for selling his Wellington apartment.
He paid $795,000 for it in 2020, and 1News reports it's been sold for $975,000.
When it was purchased, a five-year bright-line test applied - under which Luxon would have owed $70,000 in tax.
ZB senior political correspondent Barry Soper says Luxon seems proud to defend this apartment sale.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Barry Soper: ZB senior political correspondent on Luxon avoiding paying a bright-line tax on his Wellington apartment

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3decfc05-e55a-47c9-a147-b1fc004f4344/transcript

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