Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698841175853.pdf (New Zealand)
Land Transfer Amendment Bill (Divided from the Taxation (Land Information and Offshore Persons Information) Bill) Government Bill As reported from the committee of the whole House This Bill was formerly part of the Taxation (Land Information and Offshore Persons Information) Bill as reported from the Finance and Expenditure Committee.
The com- mittee of the whole House has further amended the Bill and divided it into the follow- ing Bills: • • this Bill comprising clauses 1 and 2, Part 1, and the Schedule Tax Administration Amendment Bill comprising Part 2.
34—3A Land Transfer Amendment Bill Key to symbols used in reprinted bill As reported from the committee of the whole House text inserted text deleted Hon Louise Upston Land Transfer Amendment Bill Government Bill Contents 1 2 3 3A 4 Title Commencement Principal Act New section 2AA inserted (Transitional, savings, and related provisions) 2AA Transitional, savings, and related provisions New sections 156A to 156I and cross-heading inserted Tax statement required for registration of instrument to transfer some estates in land 156A 156B 156C 156D 156E 156F Interpretation Transferors and transferees must provide tax statement stating that transfer non-notifiable or providing tax information Content of tax statement Omissions and errors Offence to provide false or misleading tax information Chief executive must supply tax information to Commissioner of Inland Revenue 156FA Other provisions concerning use of tax information 156G Certifier and chief executive must hold tax statement and provide copies Status of tax information Disclosure of information between authorised persons 156H 156I Section 164B amended (Who may give certification) Section 236 amended (Regulations) New Schedule 1AA inserted 5 6 6A 34—3A Page 2 2 2 2 2 2 2 4 4 6 6 6 7 7 7 8 8 8 9 1 cl 1 7 Land Transfer Amendment Bill Consequential amendment to Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002 · · · · · Schedule New Schedule 1AA inserted 9 10 The Parliament of New Zealand enacts as follows: 1 2 3 Title This Act is the Land Transfer Amendment Act 2015.
Commencement This Act comes into force on 1 October 2015.

Principal Act This Act amends the Land Transfer Act 1952 (the principal Act).

3A New section 2AA inserted (Transitional, savings, and related provisions) After section 2, insert: 2AA Transitional, savings, and related provisions The transitional, savings, and related provisions set out in Schedule 1AA have effect according to their terms.
4 New sections 156A to 156I and cross-heading inserted After section 156, insert: 5 10 Tax statement required for registration of instrument to transfer some estates in land 15 156A Interpretation (1) For the purpose of this section and sections 156B to 156I, unless the con- text otherwise requires,— certifier means a person who provides the certification for a transferor or a transferee in accordance with section 164A for a transfer of a specified estate in land 20 chief executive means the chief executive of the department main home means, for a person, the 1 dwelling— (a) that is mainly used as a residence by the person (a home); and 25 (b) with which the person has the greatest connection, if they have more than 1 home 2 Land Transfer Amendment Bill cl 4 nominee has the meaning given to it in section YB 21(2) of the Income Tax Act 2007 offshore person has the meaning given to it in section 3(1) of the Tax Admin- istration Act 1994 specified estate in land means— 5 (a) (b) (c) (d) (e) (f) freehold estates, including fee simple and life estates; and leasehold estates; and stratum estates in freehold within the meaning of the Unit Titles Act 2010; and stratum estates in leasehold within the meaning of the Unit Titles Act 2010; and 10 licences to occupy (as defined in section 121A(1)); and any other estate in land declared to be a specified estate in land by regu- lations made under this Act tax information means the information specified in a tax statement in accord- ance with— 15 (a) (b) section 156C(1)(b) to
 (d) and (if applicable) (2); and if applicable, section 156D tax statement means a statement that is completed and given in accordance with— 20 (a) (b) sections 156B and 156C; and if applicable, section 156D.
(2) For the purpose of this section and sections 156B to 156I, non-notifiable transfer— (a) means,— (i) (ii) in relation to a transferee who is a natural person, the transfer of land that is intended to be used predominantly for a dwelling that will be the transferee’s main home: in relation to a transferor who is a natural person, the transfer of land that has been used predominantly, for most of the time the transferor owned the land, for a dwelling that was the transferor’s main home: (iii) any other transfer specified in regulations made under this Act as a non-notifiable transfer; but (b) does not include— (i) a transfer described in paragraph (a)(i) if the transferee will own the land as a trustee: 25 30 35 3 cl 4 Land Transfer Amendment Bill (ii) (iii) a transfer described in paragraph (a)(ii) if the transferor owned the land as a trustee: a transfer described in paragraph (a)(ii) if the transferor has re- lied on that paragraph at least 2 times within the 2 years immedi- ately preceding the date of the transfer to claim that transfers were non-notifiable transfers: (iv) any transfer, in relation to a transferee or a transferor who is an offshore person.
156B Transferors and transferees must provide tax statement stating that trans- fer non-notifiable or providing tax information (1) An instrument to transfer a specified estate in land is not in order for registra- tion unless— 5 10 (a) (b) each of the transferors and transferees completes a tax statement; and the tax information in that statement is given to the chief executive in ac- cordance with subsection (2) or (3).
15 (2) If the instrument is an electronic instrument,— (a) (b) the transferor or transferee must give the tax statement to the certifier; and the certifier must give the tax information in that statement to the chief executive by lodging the information in an electronic workspace facility approved by the Registrar under section 22 of the Land Transfer (Com- puter Registers and Electronic Lodgement) Amendment Act 2002 when lodging the instrument for registration.
(3) If the instrument is a paper instrument, the tax statement must be attached to the instrument when the instrument is lodged for registration in accordance with section 47.
156C Content of tax statement (1) A tax statement completed by or on behalf of a transferor or transferee must— (a) (b) (c) (ca) (cb) be signed by the transferor or transferee; and be dated on the date on which it was signed; and state the transferor or transferee’s full name; and state whether the transfer is of land that has a home on it; and state whether the transferor or, as the case may be, the transferee, or a member of that person’s immediate family, is a New Zealand citizen or a holder of a resident visa, work visa, or student visa; and (cc) in the case of a transferee, if the transferee or a member of the transfer- ee’s immediate family is a holder of a work visa or student visa, state 20 25 30 35 4 Land Transfer Amendment Bill cl 4 whether the transferee or a member of the transferee’s immediate family intends living on the land; and (d) either— (i) state that the transfer instrument is for a non-notifiable transfer (or, as the case may be, is, in respect of the transferor or transferee making the statement, a non-notifiable transfer) and specify the category of that non-notifiable transfer; or (ii) provide all of the information set out in subsection (2).
(2) The information must include all of the following: (a) the transferor or transferee’s IRD number; and (b) whether the transferor or transferee (without taking into account any double tax agreement that would otherwise apply) is, or is not, treated as tax resident in a jurisdiction other than New Zealand as at the date of the statement; and (c) if the transferor or transferee is (without taking into account any double tax agreement that would otherwise apply) treated as tax resident in a jurisdiction other than New Zealand as at the date of the statement,— 5 10 15 (i) (ii) (iii) the name of that jurisdiction; and the country code for that jurisdiction as prescribed by the Com- missioner of Inland Revenue; and 20 the equivalent of the transferor or transferee’s IRD number in that jurisdiction.
(3) However, if a transferor or transferee is— (a) (b) (c) (d) acting in the capacity of the trustee of a trust, the information must relate to the trustee in that capacity; or 25 acting as a nominee or under a power of attorney, the information must relate to the person who made the nomination or granted the power of attorney; or acting in the capacity of a partner in a partnership, the information must relate to the partnership; or 30 a person acting on behalf of an unincorporated body, the information must relate to the unincorporated body.
(4) (5) (6) To avoid doubt, a transferor or transferee who does not have an IRD number must request one for the purpose of providing the information required by sub- section (2)(a).

In this section, IRD number has the meaning given to tax file number by sec- tion 3(1) of the Tax Administration Act 1994.

35 For the purpose of subsection (1)(ca), home means a dwelling mainly used as a residence.
5 cl 4 Land Transfer Amendment Bill 156D Omissions and errors (1) An omission or error in any tax information provided in accordance with sec- tion 156B(2) or (3) must be corrected as follows: (a) if the tax information in a tax statement was incorrect, the transferor or transferee must complete a corrected tax statement in accordance with section 156C and, if applicable, give it to the relevant certifier in ac- cordance with section 156B(2)(a): if the incorrect tax information was given to the chief executive by lodg- ing the information in an electronic workspace facility in accordance with section 156B(2)(b), the certifier must lodge the corrected tax in- formation in an electronic workspace facility: if the incorrect tax information was given to the chief executive by at- taching a tax statement to an instrument in accordance with section 156B(3), the corrected tax statement must be given to the chief execu- tive.
(b) (c) (2) An omission or error in any tax information provided in accordance with sec- tion 156B(2) or (3), or any other failure to comply with sections 156B and 156C, does not— (a) affect the validity of any registration of an instrument to transfer a speci- fied estate in land; or (b) give rise to any liability of, or claim for compensation from, the chief executive, the Registrar-General, or the Crown.
156E Offence to provide false or misleading tax information (1) A person commits an offence if the person gives a tax statement to a certifier or the chief executive in accordance with section 156B(2) or (3) or section 156D that, to the person’s knowledge or with intent to deceive, contains false or misleading tax information.
(2) A person who commits an offence under subsection (1) is liable,— (a) (b) the first time the person is convicted, to a fine not exceeding $25,000; and 30 on every other occasion the person is convicted, to a fine not exceeding $50,000.
156F Chief executive must supply tax information to Commissioner of Inland Revenue (1) The chief executive must supply to the Commissioner of Inland Revenue tax information and details about the transfer or transfers to which the tax informa- tion relates that are held by Land Information New Zealand.
35 6 Land Transfer Amendment Bill cl 4 (2) The chief executive and the Commissioner may, for the purpose of this section, determine by written agreement between them, in relation to the information that must be supplied under subsection (1),— (a) the frequency with which the information must be supplied; and (b) (c) the form in which the information must be supplied; and the method by which the information must be supplied.

(3) Subsection (1) applies despite anything in the Domestic Violence Act 1995.
156FA Other provisions concerning use of tax information The chief executive may release the information specified in section 156C(1)(ca), (cb), (cc), and (d), (2)(b), and (c)(i) and (ii) that is held by Land Information New Zealand, or give that information to any person as soon as practicable after receiving a request in writing from the person, provided that information is given— 5 10 (a) (b) in aggregate form only; and in a manner that prevents any particular person, estate in land, or trans- action from being identified.
15 156G Certifier and chief executive must hold tax statement and provide copies (1) A certifier must— (a) (b) retain each tax statement given to him or her in accordance with sec- tion 156B(2) or 156D for 10 years; and give a copy of that statement to the Commissioner of Inland Revenue as soon as practicable after receiving a request in writing from the Com- missioner.
(2) The chief executive must— (a) (b) retain each tax statement given to him or her in accordance with sec- tion 156B(3) or 156D for 10 years; and give a copy of that statement to the Commissioner of Inland Revenue as soon as practicable after receiving a request in writing from the Com- missioner.
156H Status of tax information (1) (2) The chief executive and certifiers must not use tax information, or disclose tax information to any person, except as set out in sections 156B, 156D, 156F, 156FA, 156G, and 156I, or as authorised or required by order of a court.

Tax information does not form part of the register and must not be made acces- sible to the public.
20 25 30 35 7 cl 5 Land Transfer Amendment Bill 156I Disclosure of information between authorised persons (1) No obligation as to secrecy or other restrictions imposed by an enactment or otherwise on the disclosure of information prevents— (a) (b) (c) (d) an authorised person from disclosing tax information to another author- ised person for the purpose of sections 156B, 156D, 156F, 156FA, and 156G; or an authorised person from disclosing to another authorised person any information for the purpose of verifying tax information; or an authorised person from disclosing to another authorised person any information for the purpose of administering the Inland Revenue Acts, to the extent that the administration of those Acts concerns tax information; or an authorised person from disclosing to another authorised person any information for the purpose of detecting, investigating, or prosecuting a potential offence under section 156E.
(2) In this section,— authorised person means— (a) (b) the Commissioner of Inland Revenue or an Inland Revenue officer who is authorised by the Commissioner to disclose and receive information under this section; or the chief executive, or an employee of the department who is authorised by the chief executive to disclose and receive information under this sec- tion 5 10 15 20 Inland Revenue Acts has the meaning given in section 3(1) of the Tax Admin- istration Act 1994.
25 5 (1) (2) Section 164B amended (Who may give certification) In section 164B(2)(c), replace “section 164C” with “section 156B(2)(b), 156D(1)(b), 156G, or 164C”.

In section 164B(4)(b), replace “section 164C” with “sections 156B(2)(b), 156D(1)(b), 156G, and 164C”.
6 Section 236 amended (Regulations) (1) After section 236(1)(h), insert: (ha) for the purposes of sections 156A and 156B (and where the condi- tions in subsection (4) of this section are satisfied),— (i) specifying transfers of specified estates in land that are exempt from the requirements of section 156B, including by reference to the nature of the transferor, transferee, transaction, type of es- tate in land, class of estate in land, or otherwise: 30 35 8 Land Transfer Amendment Bill cl 7 (ii) specifying transfers of specified estates in land that are non-notifi- able transfers (which may be non-notifiable in relation to the transferee, the transferor, or both), including by reference to the nature of the transferor, transferee, transaction, type of estate in land, class of estate in land, or otherwise: 5 (hb) declaring estates in land that are specified estates in land for the purpo- ses of section 156A: (2) After section 236(3), insert: (4) Regulations may be made under subsection (1)(ha) only on the recommen- dation of the Minister for Land Information, if the Minister is satisfied that— 10 (a) (b) requiring persons to comply with the requirements of section 156B in the case of the transfers proposed to be specified as exempt or non-noti- fiable would be impractical or involve high compliance costs; or there is a low risk of tax avoidance in relation to the transfers proposed to be specified as exempt or non-notifiable.
15 6A New Schedule 1AA inserted Insert the Schedule 1AA set out in the Schedule of this Act as the first sched- ule to appear after the last section of the principal Act.

7 (1) Consequential amendment to Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002 20 This section amends the Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002.
(2) After section 23(1)(b), insert: (ba) the instrument is associated with the information required under sec- tion 156B(2) of the principal Act; and 25 · · · · · 9 Schedule Land Transfer Amendment Bill Schedule New Schedule 1AA inserted Schedule 1AA Transitional, savings, and related provisions s 6A 5 s 2AA Part 1 Provisions relating to Land Transfer Amendment Act 2015 1 1 Application of sections 156A to 156I Nothing in sections 156A to 156I applies in respect of a transfer of land that was settled before 1 October 2015.
Application of sections 156A to 156I Sections 156A to 156I do not apply to any transfer of land if— (a) the contract for the transfer of the land was entered into before 1 October 2015; and (b) the transfer is registered on or before 1 April 2016.

10 15 9 September 2015 Divided from Taxation (Land Information and Offshore Persons Information) Bill (Bill 34–2) as Bill 34–3A Legislative history Wellington, New Zealand: Published under the authority of the House of Representatives—2015 10