On 16 November 2015, the New Zealand government introduced the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Bill. The main measures of the bill are summarized as follows.
Residential Land Withholding Tax
A Residential Land Withholding Tax (RLWT) is proposed that applies for offshore sellers (vendors) of New Zealand residential property that is acquired and sold within 2 years ({News-2015-11-18/A/3- bright-line test - previous coverage}). The applic…