New Zealand Inland Revenue's Policy and Strategy group has issued a special report on the new Residential Land Withholding Tax (RLWT) introduced as part of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act, which was approved on 10 May 2016 and received Royal assent on 13 May. The RLWT applies on residential property sales by offshore individuals and companies within two years of acquisition. The RLWT amount is generally the lower of 10% of the cur…