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 the following apply:
- you're selling or disposing of New Zealand residential property and
- the sale amount is paid/payable on or after 1 July 2016 and
- you purchased/acquired the property on or after 1 October 2015 through to 28 March 2018 inclusive, and you are selling/disposing of the property within two years, or
- you purchased/acquired residential property in New Zealand on or after 29 March 2018 and you're selling/disposing of the property within five years.
There's a table in page 7 of this 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 the form 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.