Govt announces tax crackdown on housing speculators: Budget 2015

Sun, 17 May 2015

By Jonathan Underhill May 17 (BusinessDesk) - The government will give the Inland Revenue Department an extra $29 million in Budget 2015 to chase property investors, tighten rules on investment gains and link transactions to IRD numbers while it assesses a withholding tax for foreigners, in a response to the growing fears about the pace of Auckland house price inflation. From Oct. 1, all non-residents and New Zealanders buying and selling property other than their main home must provide a New Zealand IRD number as part of the land transfe...

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