Supplementary Order Paper No 121

No 121

House of Representatives

Supplementary Order Paper

Wednesday, 9 September 2015

Taxation (Land Information and Offshore Persons Information) Bill

Proposed amendments

Julie Anne Genter, in Committee, to move the following amendments:

Clause 4

In clause 4, new section 156A(1), delete the definition of main home (page 3, lines 30 to 33).

In clause 4, delete new section 156A(2)(a) (page 4, line 30 to page 5, line 3).

Explanatory note

This Supplementary Order Paper amends the Bill to remove the exemption for a “main home”. The exemption introduces unnecessary complexity and bureaucracy to the gathering of data. In addition there will be gaps in information IRD and LINZ will hold about property sales. In this Bill and other proposed legislation, the exemption for a “main home” can only be used twice in 2 years. However, it is unclear how IRD and LINZ will know when a person has used the main home exemption if the IRD number is not given at the point of the sale for the first 2 properties.