Skip to Content
MenuClose

myIR, payments and more

On 16 May 2016, Parliament introduced a new residential land withholding tax (RLWT). This means from 1 July 2016 RLWT will need to be deducted from some residential property sales or disposals.

Please follow the requirements listed for "Everyone else" if:

  • you're a New Zealand citizen who has been overseas continuously for the last three or more years
  • you have a New Zealand residence visa and have been overseas continuously for the last year or more.

New Zealand citizens and residents

New bright-line rule

The bright-line rule only applies to residential properties bought on or after 1 October 2015. Under this rule you'll pay tax on income you earn if you buy and sell a house within two years, unless you're selling your main home or another exception applies.

All existing property tax rules still apply.

New information requirements

When buying, selling or transferring New Zealand property, excluding your main home, you’ll provide your:

  • IRD number, and
  • taxpayer identification number (TIN) from any overseas countries where you have to pay tax on your worldwide income, if you have one.

You’ll give your property lawyer or conveyancer this information. You may choose to do this by filling in a Land Transfer Tax Statement, which is available on the Land Information New Zealand (LINZ) website.

If you’re transferring property that’s in trust, you’ll supply the IRD number for the trust. Trustees’ IRD numbers can’t be accepted.

Where can I find my IRD number?

You can often find your IRD number on your payslip. It’s on all letters from Inland Revenue. It’s also available through your myIR Secure Online Services account. Or you can contact us.

Don’t have an IRD number?

If you don’t have an IRD number you can apply for one. We’ll send you your IRD number within 10 working days of receiving your application. 

Everyone else

New bright-line rule

The bright-line rule only applies to residential properties bought on or after 1 October 2015. Under this rule you'll pay tax on income you earn if you buy and sell a house within two years, unless you're selling your main home or another exception applies.

All existing property tax rules still apply.

New information requirements

When buying, selling or transferring property in New Zealand, you’ll provide your:

  • New Zealand IRD number, and
  • taxpayer identification number (TIN) from any countries where you have to pay tax on your worldwide income.

You’ll give your property lawyer or conveyancer this information. You may choose to do this by filling in a Land Transfer Tax Statement, which is available on the Land Information New Zealand (LINZ) website.

Don’t have an IRD number?

You’ll need a fully functional New Zealand bank account before you apply for a New Zealand IRD number, since you’ll include it on your IRD number application. 

We’ll send you your IRD number within 10 working days of receiving your application.

If you're thinking about buying, selling or transferring New Zealand property, plan ahead and get your New Zealand bank account and IRD number as early as possible.

More information

Would you like detailed technical information about the bright-line rule? Read our special report.