Fillable Land Transfer Tax Statement (Land Information New Zealand)

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Land Transfer Tax Statement (Land Information New Zealand)

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Land Transfer Tax Statement (v4.3) - Page 1 of 3
Land Transfer Tax Statement
Sections 78 & 79 of the Land Transfer Act 2017
• You can use this form to provide the required tax details as part of registering your property transfer
• A separate tax statement will need to be completed for each individual or entity (non-individual/corporate)
• See notes (attached) for details on how to complete this form.
Property Details
Record of title reference
____________________________
Instrument number of transfer to be
registered (if available)
____________________________
3A. Does the transfer include any land
that has a home on it?
⃝ yes go to 3B
⃝ no go to 4
A home is any dwelling that is
mainly used as a place of residence
e.g. house, apartment, unit, whether
tenanted, occupied or not
3B. Is the transfer a 'main home
transfer'?
⃝ yes
⃝ no
See section 3B in the notes for the
definition of ‘main home transfer’
Seller / Buyer Identity
Is this statement for?
a transferor (seller)
a transferee (buyer)
Enter the exact name that EITHER currently appears on the title (if transferor/seller)
OR will appear on the title (if transferee/buyer)
For mortgagee, rating, and court ordered sales, refer to section 5 in the notes before
completing the name
____________________________________________________________________
In this transaction are you representing?
See section 6 in the notes for more information
the person (individual) named in 5 above go to 9
For example:
yourself
yourself as a trustee
yourself as a partner in a partnership
yourself as an executor or administrator of a deceased estate
another person as their attorney
the entity (non-individual/corporate) named in 5 above go to 14
For example:
a company
a company as a trustee
a corporate entity (body corporate, incorporated society, etc.)
a public or local government authority
an entity as its attorney
other non-individual
a nominator not named in 5 above go to 7
this only applies where you will be holding the property on behalf of another
person or entity
this does not apply where, for example, a person nominates their family trust to
complete the purchase of a property
Land Transfer Tax Statement (v4.3) - Page 2 of 3
If you are acting as a nominee for a nominator, please enter the name of your
nominator
For definition of nominee please refer Section YB21 of the Income Tax Act 2007
___________________________________________________
if you are acting for multiple nominators, please mark here
If you are acting for multiple nominators, enter one name above and answer all subsequent
questions on behalf of that nominator. A tax statement will need to be completed for each of
the remaining nominators. Refer to the notes for more information on multiple nominators
Is your named nominator a person (individual)?
⃝ yes go to 9
⃝ no go to 14
Mark only one option to answer this question. Are you?
a New Zealand citizen
a holder of a New Zealand resident visa
a holder of a New Zealand student visa
a holder of a New Zealand work visa (e.g. working holiday, essential skills, study
to work, work to resident, etc.)
none of the above
If you are acting as a nominee or as an attorney for an individual, please answer this question
and all following questions on behalf of the person you are acting for. For example, if the
nominator or donor is a New Zealand citizen, mark New Zealand citizen
Mark all the options you need to answer this question. Is any member of your
immediate family?
a New Zealand citizen
a holder of a New Zealand resident visa
a holder of a New Zealand student visa
a holder of a New Zealand work visa (e.g. working holiday, essential skills, study
to work, work to resident, etc.)
or no member of my immediate family is any of the above
If you are a transferor/seller go to 14
If you are a transferee/buyer and no one in your immediate family including yourself
holds a New Zealand work or student visa go to 14
Do you or a member of your immediate family intend living on the land?
⃝ yes
⃝ no
Land Transfer Tax Statement (v4.3) - Page 3 of 3
Tax details
If you are acting for an entity, trust, estate, partnership, nominator, or under a
power of attorney, please complete all tax details on behalf of the person or entity
for whom you are acting.
If you wish to claim an exemption from providing tax details enter the non-notifiable
reason code:
Refer to section 15 in the notes for non-notifiable reason codes
__________________________________________
If you have entered a non-notifiable reason code go to 20
Enter the relevant New Zealand IRD number for yourself or the person or entity you
are representing
i.e. the tax number for the person, trust, company, partnership, body corporate, or
unincorporated body
______________________________________________________________
Apart from New Zealand, are you or the person or entity you are representing a tax
resident in any other country?
Refer to section 18 in the notes to find out more details about tax residency
⃝ yes
⃝ no go to 20
Complete the following details for each country/jurisdiction, other than New
Zealand, you or the person or entity you are representing are a tax resident in.
Name of country/jurisdiction
Country
code
Taxpayer identification number
Signature
I certify that the information in this statement is true and correct at the time of
signing this. I am aware there are penalties for providing incorrect information.
______________________________________ ______________
Signature Date
_________________________________________________________
Your name
_________________________________________________________
Position or office held (if signing as an authorised person)
The following pages are for guidance only - they do not form part of the signed statement
Notes for Land Transfer Tax Statement (v4.3) - Page 1 of 6
Notes for Land Transfer Tax Statement
When do you need to complete this statement?
You
need to complete this statement if you are a transferor (seller) or transferee (buyer)
in a transfer of a property (this includes freehold or leasehold estates, life estates, stratum
estates, licences to occupy or any other specified estate in land as defined in section 77(1)
of the Land Transfer Act 2017).
You do not need to complete the form if the transfer relates to Māori Land as defined by
Te Ture Whenua Māori Act 1993, or if the transfer is a transfer of property by the Crown
under a Treaty Settlement Act that expressly authorises the Crown to transfer the fee
simple and to sign a transfer instrument. The information required in this statement is
prescribed by section 79 of the Land Transfer Act 2017.
How to complete the statement
• If you are completing this statement as a Trustee, see Appendix A
• If
you are completing this statement as a nominee for a nominator, see
Appendix B
You
r answers to these questions must be correct at the date of the statement.
Property details
1. Record of title reference can be found in the sale and purchase agreement, or your
lawyer or conveyancer will be able to provide this.
2. In
strument Number is the number allocated by LINZ for lodgement of the transfer.
If entered it should include the sequence number, e.g. 123456.1
3A Hom
e means a dwelling mainly used as a residence e.g. house, apartment, unit,
whether tenanted, occupied or not
3B Mai
n home transfer
On
ly property held by individuals or in a trust can be the subject of a “main home
transfer” for the purpose of the Land Transfer Tax Statement. If neither of these apply
to you please indicate that the transfer is not a “main home transfer”, otherwise
please follow the guidance below.
In
land Revenue uses this information to differentiate the transfer of a main home from
other transfers.
“M
ain home transfer” is defined at section 79(5) of the Land Transfer Act 2017.
Notes for Land Transfer Tax Statement (v4.3) - Page 2 of 6
For Sellers, please indicate that the transfer is a “main home transfer” if
either of the following apply:
(a) You (the transferor) have resided in the home for more than 50% of
the period during which you have owned the land; or
(b
) You (the transferor) are a trustee, and a beneficiary of the trust has
resided in the home for more than 50% of the period that the trust
has owned the land.
F
or Buyers, please indicate that the transfer is a “main home transfer” if
either of the following apply:
(a) You (the transferee) intend to reside in the home; or
(b
) You (the transferee) are a trustee, and a beneficiary of the trust
intends to reside in the home.
Seller / Buyer identity
If there is more than one transferor (seller) or transferee (buyer), each person will need to
complete their own tax statement. This also applies to people who are acting as a trustee
of a trust, as a partner in a partnership or as an executor or administrator of a deceased
estate.
4. T
ransferor (seller) is the person/entity who is selling or disposing of a property and
Transferee (buyer) is the person/entity who is buying or acquiring a property.
5. Name of person or entity - For an individual, enter the full name with first name/s
then the last name (family name or surname) exactly as it appears or will appear on
the title. For an entity (non-individual/corporate), enter the registered name exactly
as it appears or will appear on the title.
Where a person is acting on behalf of a person or entity or in a different capacity:
• in the capacity of the trustee of the trust – enter the name of the trustee exactly
as it appears or will appear on the title. A separate tax statement is required for
each individual trustee.
• as a nominee – enter the name of the nominee as it appears or will appear on
the title at question 5 and the name of the nominator at question 7. A separate
tax statement is required for each individual nominator, if more than one.
• under a power of attorney – enter the name of the person who granted the
power of attorney exactly as it appears or will appear on the title. A separate tax
statement is required for each individual donor of a power of attorney, if more
than one.
• in the capacity of a partner in a partnership – enter the name of the partnership
if it is a registered entity (i.e. limited partnership). Otherwise, it should be the
name of the individual. A separate tax statement is required for each individual
partner.
• As an executor or an administrator of a deceased estate – enter the name of th
e
e
xecutor or administrator as it appears or will appear on the title. A separate tax
statement is required for each individual executor or administrator.
• on behalf of a Body Corporate under the Unit Titles Act 2010 – enter Body
Corporate and the number (e.g. Body Corporate 12345).
For mortgagee, rating, and court-ordered sales, the name of the mortgagee/bank,
local authority or court-ordered seller should be recorded in question 5 as the
transferor.
Notes for Land Transfer Tax Statement (v4.3) - Page 3 of 6
6. Select “person” if you are representing yourself, yourself as a trustee, yourself as a
partner in a partnership, yourself as an executor or administrator of a deceased
estate, or another person as their attorney.
S
elect “entity” if you are representing a company, a company as a trustee, a
corporate entity (body corporate, incorporated society, etc.), a public or local
government authority, an entity as its attorney, or other non-individual.
S
elect “nominator” if you are a nominee acting for a nominator - note that this only
applies where you will be holding the property on behalf of another person, and this
does not apply where, for example, a person nominates their family trust to complete
the purchase of a property. For the definition of nominee please refer to Section YB21
of the Income Tax Act 2007.
7. I
f you are acting as a nominee for a nominator, enter the name of your nominat
or
in the space provided. If you are acting for multiple nominators, enter one name in
question 7 and answer all subsequent questions for that nominator. A separate tax
statement will need to be completed for each of the remaining nominators. Refer to
Appendix B for more information.
8. I
f you are an entity, you do not need to answer questions 9-13. If you are an
individual, you must complete questions 9,10 and, where relevant, question 13.
9. Select the box that applies to you OR if you are acting for a nominator, select the box
that applies to the nominator. You can only select one box for this question.
10. S
elect the boxes that apply to any members of your immediate family. You may select
as many boxes as necessary. If you are acting for a nominator, select the box or
b
oxes that apply to the nominator’s immediate family.
11. Q
uestion 11 helps you assess whether you need to answer question 13.
12. Q
uestion 12 helps you assess whether you need to answer question 13.
13. I
f you are a transferee/buyer and you or a member of your immediate family holds a
work or student visa, then you must answer question 13. Otherwise, you do not need
to answer question 13.
Notes for Land Transfer Tax Statement (v4.3) - Page 4 of 6
Tax Details
14. If acting as a Trustee or Nominee please refer to Appendices A and B at the end of
these notes
15. You may claim that your transfer is a non-notifiable transfer and that as a result
y
ou do not need to provide tax details if:
B. y
ou are disposing of the land as part of a mortgagee sale, rating sale under the
Local Government (Rating) Act 2002, a court ordered sale or statute ordered
sale.
C. you are acting as a transferor or transferee on behalf of a public authority as
defined in the Land Transfer (Land Information and Offshore Persons
Information) Exemption Regulations 2015 (e.g. Her Majesty the Queen)
D. you are acting as a transferor or transferee on behalf of a local authority as
defined in the Income Tax Act 2007
E. you are acting as executor or administrator for a deceased person’s estate and
the transferee is beneficially entitled to receive the property under the will
or
t
he rules governing intestacy.
I
f applicable, enter the most appropriate code (i.e. B, C, D or E from the above list) in
question 15.
16. I
f you claimed a non-notifiable reason, you do not need to answer questions 17-19.
If you did not claim a non-notifiable reason, complete questions 17 and 18 and
question 19 if applicable.
17. E
nter the applicable New Zealand IRD Number,—
• for a trust – use the trust’s IRD number not the trustees’ IRD number.
• for a partnership – use the partnerships IRD number not the partners’ IRD
number.
• for an estate – use the estate’s IRD number not the executors’ or
administrators’ IRD number.
• if acting as a nominee – use the IRD number of the person who made the
nomination
• if acting under a power of attorney - use the IRD number of the person wh
o
granted the power of attorney
• if acting on behalf of a body corporate under the Unit Titles Act 2010 – use t
he
Bo
dy Corporate’s IRD number
• if acting on behalf of an unincorporated body – use the unincorporated body’s
IRD number
If you do not have a New Zealand IRD number, you will need to get one before your
land transfer can be registered. Go to www.ird.govt.nz to find out how to do this.
18. A
re you a tax resident in another jurisdiction/country? You need to answer yes
to this question if you are currently a tax resident in another jurisdiction under the tax
laws of that jurisdiction. Generally you are a tax resident of another jurisdiction if you
need to file an income tax return in that jurisdiction for your world-wide income
(rather than just for income that has a source in that country). You need to answer
yes to this question even if, under a double tax agreement, you would not be treated
a
s tax resident in that country.
If you are not sure if you are a current tax resident of another country/jurisdiction,
you will need to contact that tax authority to confirm.
Notes for Land Transfer Tax Statement (v4.3) - Page 5 of 6
19. Country name and code If you are a tax resident in another country/jurisdiction
ot
her than New Zealand you need to give us that country’s name and country code.
You can find the country code on the Inland Revenue website www.ird.govt.nz (searc
h
k
eywords: country code).
T
axpayer identification number Provide your taxpayer identification number in tha
t
c
ountry.
If
you are a current tax resident in more than one country/jurisdiction, other than
New Zealand, you will need to provide the country name, code and IRD numbe
r
e
quivalent for the second and subsequent countries/jurisdiction and attach to this
statement.
Signature
20. E
ach transferor (seller) and transferee (buyer) involved in the property transfer must
sign their own tax statement.
If signing as an authorised person please include the name of the person signing and
the title of position held e.g. power of attorney, company director, executive office
holder.
Offence
A person commits an offence under section 81(1) of the Land Transfer Act 2017 if they
give a tax statement to a certifier or to Land Information New Zealand that, to the
person’s knowledge or with intent to deceive, contains false or misleading tax information.
Section 81(2) of the Land Transfer Act 2017, specifies the penalties for giving false or
misleading information.
Notes for Land Transfer Tax Statement (v4.3) - Page 6 of 6
Appendix A – Acting as a Trustee
If you are acting as a trustee of a trust, you must complete a tax statement for yourself in
your capacity as a trustee. Each other trustee must complete a separate tax statement.
You cannot submit one tax statement for the trust.
If the land being transferred has a home on it, you must indicate whether or not the
transfer is a “main home transfer” at question 3B.
A
t question 5, you must record your full name, not the name of the trust. This is because
the Land Transfer Act prohibits any reference to trusts on the register.
Y
ou should complete questions 9 and 10 with reference to your own and your immediate
family’s citizenship and visa details.
Y
ou will need to insert the trust’s IRD number in question 17. Trusts are allocated IRD
numbers independently of the trustees in their personal capacity. When a trust transfers
property, it is the trust’s IRD number that is needed.
S
ome trusts have no taxable income and may not have an IRD number. These trusts will
still need to obtain an IRD number to complete a purchase, sale or transfer of property.
T
his tax information will not form part of the land transfer register. Non-disclosure of
trusts on the register is a separate issue governed by other provisions of the Land
Transfer Act, which have not changed under the tax statement regime.
Appendix B – Acting as a Nominee
The nominee’s name as transferor or transferee should be entered at question 5 while the
name of one of the nominators should be entered at question 7. The remaining questions
should be completed using the nominator’s information.
If a transferor or transferee is acting on behalf of multiple nominators, a tax statement is
required for each nominator.
W
hen there are multiple nominators for one nominee, your lawyer or conveyancer will
record the details of one of the nominators against the transfer, because the land transfer
system only has provision for recording one nominator for each transferor or transferee.
They are however required to retain a copy of every tax statement they receive, so
information on the other nominators will still be accessible on request from Land
Information New Zealand or Inland Revenue.
W
hen completing the tax statement, be aware that the terminology used in relation to
'nominee' differs from that normally used in conveyancing. For the tax statement, the
'nominee' is defined in section YB21 of the Income Tax Act 2007 and is the person who
does something, or holds something, on behalf of someone else (the 'nominator'). This
definition does not apply where the purchaser in an Agreement for Sale and Purchase
nominates another person or entity (e.g. a family trust or a company) to complete the
purchase with the intention that that person or entity will own the property for
themselves.
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