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Residential land withholding tax (RLWT) declaration (IR1101)
RLWT applies from 1 July 2016
Whether you're an offshore RLWT person or not, you need to complete this form when all of the following situations apply:
- you purchased or acquired residential property in New Zealand on or after 1 October 2015
- you're selling or disposing of that property
- it's been less than two years between the date you purchased or acquired the property and the date you sold or disposed of the property
- a sale amount is paid/payable on or after 1 July 2016.
There's a table on the form to help you work out the exact dates.
If you're an offshore RLWT person your property sale is liable for RLWT.
If more than one person owns the property, each person selling or disposing of the property needs to complete their own declaration.
If the seller is a trust or estate, a single trustee or executor of the estate may complete this form on its behalf.
After you've completed this form give it and any original supporting documents to your withholder. If you:
- have a conveyancer, they're your withholder (unless you're associated to the buyer)
- don't have a conveyancer, the buyer's lawyer or conveyancer is your withholder
- are associated to the buyer, or neither you or the buyer have a lawyer or conveyancer, the buyer is your withholder.