NZ tightens rules on property investors

A BILL to help enforce tax rules for property investment is set to have its first reading in New Zealand's parliament.

THE New Zealand government has introduced a bill aimed at tightening rules and scrutiny of property investors, including requiring them to provide their tax numbers and have a local bank account.

THE Taxation (Land Information and Offshore Persons Information) Bill, introduced on Monday by Land Information Minister Louise Upston, amends the Land Transfer Act and the Tax Administration Act to help Inland Revenue enforce the tax rules for property.