23 Bright-Line - The lessons we have learnt (Webinar Recording)
excl. GST - Broadcast Date: 23 May 2023
| Quantity |
Product Description
When the Bright-line rules were first introduced in 2015, they were said to be for speculators flipping property.
As they have evolved, that has been shown to not be the case. We all know of cases where unsuspecting homeowners have been told by the IRD that they need to pay tax on the sale of their home.
Learn how that happens and what they could do differently. We will discuss the Bright-line rules, exemptions and exclusions to gain a better understanding on how they can apply when you least expect it and the outcome of that.
The Bright-line rules have been in force for a number of years, but there are complications and limitations on exemptions that can catch people out; for some for the better and for many others for the worse.
This session will be a practical focused webinar that looks at a number of scenarios, many of which have outcomes you might not expect.
The Bright-line rules have been in force for a number of years, but there are complications and limitations on exemptions that can catch people out; for some for the better and for many others for the worse.
This session will be a practical focused webinar that looks at a number of scenarios, many of which have outcomes you might not expect.
We will cover a breadth of topics including:
- Pattern
- Joint ownership and partitioning
- RPAs
- New Builds
- Developers for bright-line purposes not for land tax purposes
- Flatmates and implications
- Trust rollover relief scenarios
- Main home
- Options for ownership and opportunities for restructure of land holdings
Upon satisfactory completion of this webinar you will be able to:
• Understand when and how the bright-line rules might apply
• Determine whether there are exemptions available
• Understand options for restructuring land ownership within the parameters available under the bright-line rules without taxation implication
• Help clients to understand what the tax cost might be on transfer.
Total of CPD Hours: 1.25 (1 Hour 15 min)
Suited to:
Accountants at all levels.
Lawyers providing advice on Agreements for Sale and Purchase of land and Trust structuring.
PRESENTER:
Daniel Gibbons, Partner, Findex/Crowe
Daniel is a Partner for Findex in Queenstown. Daniel has been with Findex for 15 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.