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hi does that mean you are taxed twice on the same money then? once on your capital gain,and then again on your income? thanks for your reply,do you have exp with nz?

Hi everyone, Have just been educating myself more on flips and I was thinking it would work well in NZ considering there is no stamp duty or capital gains tax. Does anyone on this forum know anymore regarding this or even if it is infact legal. If it is, it seems like a potential goldmine...