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Inland Revenue

Tax Policy

DEV-19-MIN-0127 – Minute: Collection of IRD numbers for the transfer of main homes

Date 22 May 2019
Reference DEV-19-MIN-0127
Document type Cabinet committee minute
Title Collection of IRD numbers for the transfer of main homes
Downloads PDF (120 KB; 2 pages)
DOCX (42 KB; 2 pages) (note: extracted from the PDF, there may be some formatting differences)

This document contains information for the New Zealand Cabinet. It must be treated in confidence and handled in accordance with any security classification, or other endorsement. The information can only be released, including under the Official Information Act 1982, by persons with the appropriate authority.

Collection of IRD Numbers for the Transfer of Main Homes

Portfolio Revenue

On 22 May 2019, the Cabinet Economic Development Committee:

1 noted that the Land Transfer Act 2017 contains tax statement requirements, which must be completed by both transferors and transferees when land is transferred;

2 noted that the Tax Working Group recommended the disclosure of IRD numbers as part of the tax statement when the transfer involves a main home;

3 agreed to remove the exemption from providing a person’s IRD number and, if applicable, any tax identification numbers (and jurisdiction of tax residence) when the transfer of property relates to the person’s main home;

4 agreed to retain an indicator on the Land Transfer Tax Statement to identify where it is a person’s main home;

5 agreed that the amendments giving effect to the proposals in paragraphs 3 and 4 above come into effect from 1 January 2020;

6 agreed to a transitional provision to address situations where transfers have been entered into on the basis of the current requirements;

7 agreed that the above proposals be included in a Supplementary Order Paper to the Taxation (Annual Rates for 2019-20, GST Offshore Supplier Registration, and Remedial Matters) Bill at the Committee of the whole House stage.

Janine Harvey
Committee Secretary

Hon Grant Robertson (Chair)
Hon Phil Twyford
Hon Dr Megan Woods
Hon Nanaia Mahuta
Hon Stuart Nash
Hon Iain Lees-Galloway
Hon Jenny Salesa
Hon Kris Faafoi
Hon James Shaw

Officials present from:
Office of the Prime Minister
Officials Committee for DEV

Hard-copy distribution:
Minister of Revenue