Taxation (Land Information and Offshore Persons Information) Bill

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Hon Louise Upston

Taxation (Land Information and Offshore Persons Information) Bill

Government Bill

34—2

Contents

Commentary
Key
1Title
2Commencement
Part 1
Amendments to Land Transfer Act 1952
3Principal Act
3ANew section 2AA inserted (Transitional, savings, and related provisions)
2AATransitional, savings, and related provisions
4New sections 156A to 156I and cross-heading inserted
Tax statement required for registration of instrument to transfer some estates in land
156AInterpretation
156BTransferors and transferees must provide tax statement stating that transfer exempt non-notifiable or providing tax information
156CContent of tax statement
156DOmissions and errors
156EOffence to provide false or misleading tax information
156FChief executive must supply tax information
156FChief executive must supply tax information to Commissioner of Inland Revenue
156FAOther provisions concerning use of tax information
156GCertifier and chief executive must hold tax statement and provide copies
156HStatus of tax information
156IDisclosure of information between authorised persons
5Section 164B amended (Who may give certification)
6Section 236 amended (Regulations)
6ANew Schedule 1AA inserted
7Consequential amendment to Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002
Part 2
Amendments to Tax Administration Act 1994
8Principal Act
9Section 3 amended (Interpretation)
10New heading and section 24BA inserted (Offshore persons’ bank accounts and tax file numbers)
Offshore persons’ bank account and tax file numbers
24BAOffshore persons’ bank account and tax file numbers
Offshore persons’ bank accounts and tax file numbers
24BAOffshore persons’ bank accounts and tax file numbers
11Section 81 amended (Officers to maintain secrecy)
Schedule
New Schedule 1AA inserted
Legislative history

The Parliament of New Zealand enacts as follows: