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Changes to Property Rules

Property rules changed on 1 October 2015. If you’re buying or selling a New Zealand property, here’s what you need to know.

This page provides information about property changes effective from 1 October 2015. Parliament is considering additional rules as part of the Taxation (Bright-line Test for Residential Land) Bill, which includes proposed "bright-line" property changes. You can find more information in the Minister of Revenue’s latest press release or on the Tax Policy website.

Important

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
  • have a New Zealand residence visa and have been overseas continuously for the last year or more.

New Zealand citizens and residents

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

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 more information about these changes? You’ll find it in our questions and answers.