This webinar will consider some specific troublesome GST issues that are either subject to current IRD audit activity or IRD statements. This webinar will focus on the following issues:

1. Subdivision projects and taxable activity
Working whether a client’s subdivision project attracts GST depends on whether the project is a taxable activity. This in turn will depend on whether it is a continuous or regular activity. This webinar will consider recent Inland Revenue guidance on identifying whether a subdivision project is a taxable activity.

2. Input tax claims on goods introduced to a taxable activity
When a person registers for GST and introduces assets acquired before registration into their taxable activity an ability to claim GST on those goods may arise. Legislative changes introduced from 1 April 2023 have created a couple of issues with making these claims. This webinar will examine these issues and the legislative modification available to address one of those issues.

3. Supplies of Properties Used for Transitional Housing
The supply of accommodation in a dwelling is an exempt supply. However, “dwelling” in this context is not about the physical nature of the building, but the legal rights of the occupier. This has caught out several taxpayers leasing their residential properties to transitional housing providers and other organisations. This webinar will consider the issues and Inland Revenue operational statement on correcting incorrect GST positions.

4. Compulsory Zero-rating of Land and Timber and Crops
Inland Revenue has finally released its position on when the supply of timber or crops is subject to the compulsory zero-rating of land provisions. This webinar will set out Inland Revenue’s position.

Upon satisfactory completion of this activity, you will be able to:

• Better understand when a subdivision is carried on continuously or regularly such that it amounts to carrying on a taxable activity
• Be aware of the restrictions on input claims for assets introduced into a taxable activity
• Understand when the supply of a residential property results in an exempt supply and when that supply is a taxable supply
• Know when to applying the compulsory zero-rating rule to a supply of timber or crops

Suited to:

This webinar would suit anybody at intermediate level or higher working in an accountancy practice providing services to GST registered activities.

It is suitable for corporate accountants, those in public practice, and in general business.

PRESENTER

Stephen Richards, Partner – Tax Advisory Findex/Crowe

Stephen Richards is Partner in the Tax Advisory team at Findex. Findex is one of the largest providers of integrated financial advisory and accounting services to individuals, SMEs, and corporates in Australasia.
Stephen has been practising in tax advisory for over 25 years and is a sought-after speaker on tax topics, including for CCH, CAANZ, and TEO Training courses and lecturing in taxation practice at the University of Otago.