Rented Property Registration

TIP - RENTAL REGISTRATION - - PLEASE NOTE - THIS IS AN EXTRACT FROM THE 2017 BUDGET
"Registration of lease contracts
We have already introduced the choice of a reduced income tax
rate of 15 per cent to encourage the declaration of income from
the leasing of premises, both residential and commercial. We
made it clear from the start that controls needed to be put in place
to address tax evasion on income from this source.
For this reason, as of next year, (1ST APRIL 2017) we shall be introducing a system whereby lease agreements for three months or more, including renewal agreements will need to be registered with the Department of Inland Revenue. These contracts can be
registered both by the lessor and/or the lessee but failure to do so
would lead to the lessor being liable to penalties as stipulated in
the Income Tax Act."
For those who are reading and maybe looking for the next property it may well be worth asking these questions
1.... is the property registered with the tax authority as is required?
2.... if not will you register it?
3.... if not would you mind if we as prospective tenants do it?
I suspect i know what the answers will be