Taxation (Land Information and Offshore Persons Information) Bill enacted
The Taxation (Land Information and Offshore Persons Information) Bill was enacted as the Land Transfer Amendment Act 2015 and the Tax Administration Amendment Act 2015 on 22 September 2015. The amendments aim to obtain tax information from people buying and selling land and improve the enforcement of non-residents’ tax obligations. The amendments generally come into force on 1 October 2015. However, the amendments to the Land Transfer Act requiring a tax statement will not apply to contracts for the transfer of land entered into before 1 October 2015, providing the transfer is registered on or before 1 April 2016.
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