Lee Melissa: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeLee Melissa: Oral Questions — Questions to Ministers[Sitting date: 11 May 2016. Volume:713;Page:10972. Text is incorporated into the Bound Volume.]7.MELISSA LEE (National) to the Minister for Land Information: What did the data released by Land Information New Zealand in the Property Transfers and Tax Residency report indicate regarding the tax residency of those buying and selling property in New Zealand?Hon LOUISE UPSTON (Minister for Land Information): In the 6 months up to 31 March 2016 2 to 3 percent of transfers involved buyers who indicated an overseas tax residency. In the same period 2 percent of transfers involved sellers who indicated an overseas tax residency. Land Information New Zealand collected this data to ensure that those involved in property transfers pay their fair share of tax.Melissa Lee: Can the Minister tell us more about the data?Hon LOUISE UPSTON: The data is based on actual counts of property transfers and the tax residency indicated. Over the last 6 months around 67000 transfers were registered. This equates to about 1692 being overseas tax residents and the data was collected for tax purposes. Land Information New Zealand also asked questions about the type of property the person’s connection to New Zealand and their intention to reside at the property. Ninety percent of the respondents indicated there was a home and of those 97 percent were New Zealand residents citizens or on a work or student visa. The only area where there has been concern about the data is the third question about the people’s intention to live at the property. The way this question was answered showed Land Information New Zealand that in some cases people had misinterpreted whether the question applied to them and Land Information New Zealand is working on better guidance to support that final question.Melissa Lee: How does this compare with other data that the Minister has seen?Mr SPEAKER: Again I just caution the Minister in answering.Hon LOUISE UPSTON: The data released by the Government yesterday is credible and puts into perspective our long-term objective to get accurate information on property transfers by tax residency. It is about ensuring those who earn income off property pay their fair share of tax. It is also about informing policy-makers and the public about housing. In comparison I have seen data by others that is purely based on Chinese-sounding surnames and has got nothing to do with fact.Phil Twyford: Why did she exclude businesses and trusts from her calculations?Hon LOUISE UPSTON: Unfortunately that member does not understand what the report says. They are not excluded. Every single property transaction has been captured with the only exception being those that were contracts entered into prior to 1 October which is not captured by this legislation.Phil Twyford: I raise a point of order Mr Speaker. I believe that was a very straight question and to say the answer was obtuse would be under—Mr SPEAKER: Order! A very straight answer was given. The member asked why businesses and trusts were excluded and the Minister said they were not.Phil Twyford: I raise a point of order Mr Speaker. If I may they were excluded from her calculations. The calculation of the number that the Minister—Mr SPEAKER: Listen—[Interruption] Order! The member is in danger. When I stand the question has been addressed. If the member wants to try a different angle—but I listened to the question very carefully. The way I listened to the answer it has been addressed.