<\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"
A new withholding tax on sales of residential property in New Zealand by people who...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-326","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5g","jetpack-related-posts":[{"id":170972,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabia-tax-alert-zatca-sets-march-10-deadline-for-february-withholding-tax-filings\/","url_meta":{"origin":326,"position":0},"title":"Saudi Arabia tax alert: ZATCA sets March 10 deadline for February withholding tax filings","date":"March 8, 2026","format":false,"excerpt":"\r Saudi Arabia\u2019s ZATCA urges businesses to submit February withholding tax forms by March 10 or face fines of 1 per cent per 30-day delay The post Saudi Arabia tax alert: ZATCA sets March 10 deadline for February withholding tax filings appeared first on Arabian Business: Latest News on the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":168910,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabia-warns-of-penalties-for-late-withholding-tax-filings\/","url_meta":{"origin":326,"position":1},"title":"Saudi Arabia warns of penalties for late withholding tax filings","date":"January 5, 2026","format":false,"excerpt":"\r Saudi Arabia\u2019s ZATCA calls on businesses to submit December 2025 withholding tax filings by January 11 to avoid payment penalties The post Saudi Arabia warns of penalties for late withholding tax filings appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r \r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2026\/01\/riyadh-saudi-arabia-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":164076,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabia-warns-firms-to-file-withholding-tax-by-november-10-or-face-fines\/","url_meta":{"origin":326,"position":2},"title":"Saudi Arabia warns firms to file withholding tax by November 10 or face fines","date":"November 5, 2025","format":false,"excerpt":"\r ZATCA urges Saudi businesses to file withholding tax returns by November 10 to avoid 1% monthly penalties on unpaid tax The post Saudi Arabia warns firms to file withholding tax by November 10 or face fines appeared first on Arabian Business: Latest News on the Middle East, Real Estate,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/11\/Riyadh-cityscape-1000x667-2.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":41016,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/knight-frank-spore-prime-home-prices-to-increase-2\/","url_meta":{"origin":326,"position":3},"title":"Knight Frank: S\u2019pore prime home prices to increase 2%","date":"January 18, 2017","format":false,"excerpt":"\r The recent hike in Hong Kong\u2019s stamp duty may divert home buying interest to Singapore. (Photo: William Cho, Wikimedia Commons) \u00a0 Prime residential prices in Singapore are expected to increase by two percent in 2017, according to property consultancy Knight Frank and reported the Financial Times. This comes as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160609,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabia-warns-businesses-file-august-withholding-tax-by-september-10-or-face-fines\/","url_meta":{"origin":326,"position":4},"title":"Saudi Arabia warns businesses: file August withholding tax by September 10 or face fines","date":"September 8, 2025","format":false,"excerpt":"\r Saudi Arabia\u2019s ZATCA urges businesses to file August withholding tax by September 10 or risk a 1% fine for every 30 days of delay beyond the deadline\r \r Source : arabianbusiness.com\r Read more...Saudi Arabia warns businesses: file August withholding tax by September 10 or face fines","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/09\/riyadh-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":37444,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/coming-soon-more-taxes-on-cambodian-property-cinema\/","url_meta":{"origin":326,"position":5},"title":"Coming soon: More taxes on Cambodian property, cinema","date":"December 8, 2016","format":false,"excerpt":"\r Lights, camera, taxation! A cinema at Preah Norodom Boulevard in Phnom Penh. myrmux \/ Shutterstock.com Cambodia\u2019s coffers are about to get bigger streams of revenues from two of its strongest sectors: real estate and entertainment. A withholding tax of 10 percent will be levied on real estate agents in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/326"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=326"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/326\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n A new withholding tax on sales of residential property in New Zealand by people who live overseas and go on to sell the property within two years of purchase will be introduced in 2016.The Residential Land Withholding Tax (RLWT) is the third part of the Government\u2019s investment property tax reforms announced as part of its Budget 2015. It will come into force on 01 July 2016 under a new Bill before Parliament.Revenue Minister Todd McClay said that the RLWT will act as a collection mechanism for the new bright-line test, which applies to gains from the sale of residential property purchased on or after 01 October 2015 and sold within two years.\u2018The proposed RLWT will ensure the integrity of the tax system and will bring the collection of bright-line tax into line with other withholding taxes, which generally apply when there is likely to be a tax liability and collection may be difficult,\u2019 he explained.RLWT will apply when the property being sold is located in New Zealand and defined as residential land under the bright-line test provisions; when the seller acquired the property on or after 01 October 2015 and has owned the property for less than two years before selling it; and the seller is an offshore person.An offshore person would include people who are not New Zealand citizens, people who do not hold residence class visas and New Zealand citizens and residence class visa holders who have been away from New Zealand for a significant period of time, three years in the case of New Zealand citizens.New Zealand trusts and companies may also be considered offshore persons if they have significant offshore interests in them.\u2018Unlike the bright-line test there is no exception for the seller\u2019s main home under the proposed new RLWT rules. As the withholding tax would only apply to a person living overseas, it is unlikely that the New Zealand property being sold would be the person\u2019s main home,\u2019 said McClay.The Bill does, however, propose an exemption from RLWT for transfers upon death, and for transfers made in relation to a property relationship agreement, in keeping with the bright-line test.The Bill also proposes that the obligation to pay the RLWT will primarily be the responsibility of seller\u2019s conveyancing agent or in their absence, the purchaser\u2019s conveyancing agent and in the absence of both, directly by the purchaser.\u2018The RLWT proposal in the bill, together with the new bright-line test and changes to collect better tax information about buyers and sellers of residential property will help to ensure that everyone pays their fair share of tax on gains from property sales,\u2019 added McClay.
\n
\nSource : propertywire.com
\nRead more…New tax on property in New Zealand owned by non-citizens from April 2016<\/a><\/p>\n