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Land Transfer Act 2017

Dealings in estates and interests in land - Transfers, transmissions, and vesting - Tax statement required for registration of instrument to transfer some estates in land

77: Interpretation

You could also call this:

"What special words mean in the Land Transfer Act"

Illustration for Land Transfer Act 2017

When you are dealing with the transfer of some estates in land, you need to know what some words mean. A certifier is a person who provides certification for a transferor or a transferee in accordance with section 27. The chief executive means the chief executive of the department. You also need to know that an exempt transfer is a transfer of a specified estate in land that is exempt from the requirements of section 78 by regulations made under this Act. Your IRD number is the same as your tax file number, which is explained in section 3(1) of the Tax Administration Act 1994. A nominee has a special meaning, which is explained in section YB 21(2) of the Income Tax Act 2007. A non-notifiable transfer is a transfer that is specified in regulations made under this Act as a non-notifiable transfer. A specified estate in land includes freehold estates, leasehold estates, and stratum estates, as well as licences to occupy and any other estate in land declared to be a specified estate in land by regulations made under this Act. Tax information means the information specified in a tax statement in accordance with section 79(1)‎(a) and, if applicable, section 80. A tax statement is a statement that is completed and given in accordance with sections 78 and 79, and, if applicable, section 80.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6635202.

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76: Life and other limited freehold estates, or

"Registering life estates and other limited ownerships of land"

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78: Transferors and transferees must provide tax statement stating that transfer non-notifiable or providing tax information, or

"People buying or selling land must fill out a tax statement to say if the transfer needs tax information or not."

Part 3Dealings in estates and interests in land
Transfers, transmissions, and vesting: Tax statement required for registration of instrument to transfer some estates in land

77Interpretation

  1. For the purpose of this section and sections 78 to 86, unless the context otherwise requires,—

    certifier means a person who provides the certification for a transferor or a transferee in accordance with section 27 for a transfer of a specified estate in land

      chief executive means the chief executive of the department

        exempt transfer means a transfer of a specified estate in land that is specified as exempt from the requirements of section 78 by regulations made under this Act

          IRD number has the meaning given to tax file number by section 3(1) of the Tax Administration Act 1994

            nominee has the meaning given to it in section YB 21(2) of the Income Tax Act 2007

              non-notifiable transfer means a transfer specified in regulations made under this Act as a non-notifiable transfer

                specified estate in land means—

                1. freehold estates, including fee simple and life estates; and
                  1. leasehold estates; and
                    1. stratum estates in freehold as defined in the Unit Titles Act 2010; and
                      1. stratum estates in leasehold as defined in the Unit Titles Act 2010; and
                        1. licences to occupy (as defined in section 122(1)); and
                          1. any other estate in land declared to be a specified estate in land by regulations made under this Act

                            tax information means the information specified in a tax statement in accordance with section 79(1)(a) and (if applicable) section 80

                              tax statement means a statement that is completed and given in accordance with—

                              1. sections 78 and 79; and
                                1. if applicable, section 80.

                                2. Repealed
                                Compare
                                Notes
                                • Section 77(1) IRD number: inserted, on , by section 196(2) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
                                • Section 77(1) main home: repealed, on , by section 131(1) of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).
                                • Section 77(1) non-notifiable transfer: inserted, on , by section 131(2) of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).
                                • Section 77(1) offshore person: repealed, on , by section 131(1) of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).
                                • Section 77(1) tax information: replaced, on , by section 196(2) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
                                • Section 77(2): repealed, on , by section 131(3) of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).