22 Land Tax Exemptions - Filling in the Gaps (Webinar Recording
: excl. GST - Broadcast Date: 26 July 2022
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Product Description
When determining if a land sale is taxable, it is important to understand not only all of the land taxing provisions but also the exemptions that may apply.
With the introduction of the Bright-line test, land sales are being captured by the land taxing rules more and more often.
The IRD system is also detecting sales that may be captured and taxpayers are given the opportunity to complete an IR 833. Completing this form, or responding to the query, can have consequences.
While many taxpayers assume that if the bright line test does not apply to them then the land sale is not taxed, this is not necessarily the case. There are other land provisions that can apply and still need to be understood.
As the exemptions apply differently depending on the circumstances, it is important to understand the exemptions that apply to all land tax provisions and their application.
This course will work through the exemptions using examples to demonstrate how the rules work. It will be pitched at a tax technical level to understand the rules but will be practical based to assist in understanding how the rules can apply.
Upon satisfactory completion of this activity you will be able to:
• Understand what land tax rules can apply and have exemptions
• Understand the land tax exemptions available
• Understand when and how the exemptions apply
Total CPD Hours: 1.25 (1 hour 15 min)
Suited to:
If you own property or advise clients in the area of land sales, you should attend this course.
PRESENTER:
Daniel Gibbons, Partner, Findex/Crowe
Daniel is a Partner for Findex/Crowe in Queenstown. Daniel has been with Findex/Crowe for 14 years, where he advises on a wide range of tax matters, including property transactions and property ownership structures, international taxation issues, the tax treatment of investments and providing structuring advice to clients, including assistance for family group restructures. Daniel is recognised as a leader in the taxation treatment of short stay accommodation, providing training to other practitioners.