How does the bright-line test apply to the sale of a subdivided section?

This question we’ve been asked explains when a section subdivided from residential land and sold within 2 years will be excluded from the bright-line test.  It will be of interest to sellers seeking to rely on the main home exclusion.  It replaces (for disposals on or after 1 July 2024) QB 18/16: Income tax - bright-line test - main home exclusion  - sale of subdivided section.