The IRD has estimated up to 25 per cent of residential property investors might not have paid the relevant tax. File photo / Nick Sarvari / UnsplashBy RNZInland Revenue is cracking down on residential property investors who have sold without paying tax on the profits. The department is matching tax returns with property transactions and is contacting who might be affected and asking tax advisers to do the same. He said the IRD was clearly serious in what was a "direct, planned, and co-ordinated" campaign, with all tax advisers being warned. The IRD has estimated up to 25 per cent of investors might not have paid the relevant tax.

Source: New Zealand Herald November 30, 2020 07:07 UTC