A few years back, the bright line test was brought in because there was a shortage of rental stock. Too many speculators buying and flipping. So the bright line test kinda forced them to hold the property greater than 5 years.

My advice to mom and dad investors when CGT kicks in, don't rent your house long term. Buy, renovate and flip. No point holding long term for long term gain. If there's any gain in property value, kick the tenant(s) out, renovate and sell. Buy another do up and do the same again and again.

My advice to tenants, make sure you have a house before CGT kicks in. The rent will go up and the chances being asked to move will be high. Speculators, mom n dad investors will out competing for do ups or cheapest housing stock on the market.