Snippets
Residential Land Withholding Tax – What is it and does it apply to you? Residential Land Withholding Tax (“RLWT”) is a tax deducted from residential property sales if the following applies: 1. The property being sold is residential land in NZ. 2. The sale amount is payable or paid after 1 July 2016. 3. The seller: (a) Bought the property on or after 1 October 2015 through to 28 March 2018 inclusive and owned it for less than two years before selling; or (b) Bought the...