18 Taxation of Land Course Book (PDF)
Prices NZD and ex GST - Electronic copy of the Taxation of Land 2018 course book
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Product Description
With numerous amendments to the tax law relating to land in recent years, including the extension of the bright-line test, it is critical to understand the application of the tax legislation on any land transaction.
While historically many land transactions were not taxed, with the changes to legislation and the application of the tax legislation, many previously un-taxed land transactions are now caught within the rules. The Government has signalled a desire to slow down the property market and sees extending the bright-line test and ring-fencing rental losses as keys to this.
Although the extension of the bright-line test is the most obvious change, the application of the test and the other provisions can often result in a large unexpected tax bill.
While taxpayers developing property understand that they are taxed on any profits made, the widening of the rules now also tax genuine changes of circumstances that would otherwise be un-taxed.
As advisors, it is critical to understand the rules and the application of these to be able to provide meaningful advice to your clients before the Inland Revenue Department comes calling.
Upon satisfactory completion of this activity you will be able to:
- Understand the various provisions;
- Identify potential taxing activities;
- Proactively advise your clients on the potential risks.