What the official record says
This Act is the Taxation (Bright-line Test for Residential Land) Act . This Act comes into force on the day on which this Act receives Royal assent, except comes into force on 1 October 2015. This Part amends the Income Tax Act 2007. Before section CB 6, insert: An amount that a person derives from disposing of residential land is income of the person, if the for the residential land is within 2 years of— the date on which the instrument to transfer the land to the person was registered–– under the Land Transfer Act 1952; or under foreign laws of a similar nature to the Land Transfer Act 1952, if the land is outside New Zealand; or their date of acquisition of the land, if an instrument to transfer the land to the person is not registered on or before the bright-line date. their date of ac