Change of trustees and the brightline test

The bright-line test was amended, with effect from 1 October 2015 (when the bright-line test came into effect), to clarify that where land is transferred from one trustee to another trustee of the same trust, the transferee is treated as having acquired the land for the purpose of calculating the bright-line period on the earliest day that the land was transferred to a trustee of the trust. The effect of this amendment is that transfers of land between trustees of the same trust are ignored for the purpose of the bright-line test (including for the purpose of calculating the bright-line period) - Section CB 6A Income Tax Act 2007.