Keep those tax statements for 10 years, says LINZ
Land Information New Zealand (LINZ) has reminded lawyers that they must retain property tax statements for the required 10-year retention period so that they are available if requested by Inland Revenue.
LINZ has issued a reminder about tax information and compliance reviews. It says its role is to capture property tax data in Landonline when properties are bought, sold or transferred.
"LINZ passes that information onto Inland Revenue so that Inland Revenue can follow up on those who have property tax obligations."
Tax information must not be included as part of documentary evidence when responding to a compliance review request from the Registrar-General of Land.
LINZ says that when conducting a compliance review, the Land Transfer Act allows LINZ to request only the evidence showing the truth of your e-dealing certifications.
"Tax statements do not relate to e-dealing certifications and for this reason they:
- must not be provided to LINZ, and
- should not be attached to or scanned with the A&I form or other supporting documentation.
"In addition, tax information must not be:
- recorded on the A&I form, nor
- attached to an e-instrument for registration."
Last updated on the 13th September 2018