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LB 6: Tax credits for RSCT
or “Tax credits for retirement scheme contributions”
You could also call this:

“Getting a tax credit for RLWT paid when selling residential land”

You can get a tax credit if you sell residential land. The credit is equal to the amount of Residential Land Withholding Tax (RLWT) you paid when you sold the land. This tax credit applies to the tax year that matches the income year when you sold the property. The credit helps balance out the RLWT you’ve already paid.

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Next up: LB 7: Tax credits related to personal service rehabilitation payments: providers

or “Tax credits for providers of personal rehabilitation services paid by ACC”
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Part L Tax credits and other credits
Tax credits for payments, deductions, and family payments

LB 6BTax credits for RLWT

  1. A person has a tax credit, for the tax year corresponding to an income year in which they dispose of residential land, equal to the amount of RLWT paid in relation to that residential land.

Notes
  • Section LB 6B: inserted, on , by section 44 of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).