12 September 2018

Issue 145

The September issue of Landwrap has a reminder about tax information and compliance reviews, as well as guidance on capturing referenced surveys in the survey header.

 

A reminder about tax information and compliance reviews

Titles

When responding to a compliance review request from the RGL, tax information must not be included as part of your documentary evidence.

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.

Understanding LINZ’s Role

LINZ’s 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.

For this reason, lawyers must retain tax statements (for the required 10 year retention period) so that they are available if requested by Inland Revenue.

Capturing CSD Referenced Surveys & Bearing Corrections in the Survey Header

Survey

Current practice for capturing referenced surveys in the survey header has the potential to provide misleading bearing correction information. A new Knowledge Base article provides helpful guidance to enable a consistent approach and interpretation by Landonline users.

Media enquiries

Email: media@linz.govt.nz or phone: 027 566 5251