23 GST and Property - How the Rules Apply (Webinar Recording)
excl. GST - Broadcast Date: 6 April 2023
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Product Description
There are regular changes to the GST rules as they relate to property which makes it hard sometimes to keep up.
In terms of land, whether you are a property developer, landlord, undertaking a small subdivision or renting out a spare room on Bachcare, the GST rules can have a significant impact on your bottom line.
If you are an owner of other property that is made available to an associate, care also needs to be taken to ensure that the GST rules are being applied correctly by both sides.
The changes in the Taxation (Annual Rates for 2022-2023, Platform Economy, and Remedial Matters) Bill No 2 will also be discussed to the extent they are enacted and are relevant to property owners.
The session will provide an overview of the relevant GST rules and how they might apply in relation to property with practical examples.
In particular, the webinar will cover:
- What is a supply?
- What is a taxable activity?
- When must or can a property owner register for GST?
- Zero-rating of land – when and how the rules apply;
- Exempt, non-taxable and taxable supplies in the context of land;
- The time of supply rules;
- The application of apportionment rules that can apply;
- Associated Use.
Upon satisfactory completion of this webinar you will be able to:
• understand when you or your client must register for GST, if they have an interest in property
• determine whether any sale or purchase will be zero-rated and what happens if things aren’t what they seem on the face of the Agreement
• understand when and how the apportionment rules apply
• understand the impact of associated party transactions relating to property.
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/or businesses.
PRESENTER:
Daniel, Partner, Findex NZ Limited
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.