The Bright-line rules as amended from July 2024 have now been in force for a period following the reintroduction of a bright-line period of two years, and a loosening of the rollover relief rules.

In this course, we will look at the rules as a whole and consider the impact of the recent changes on how the rules can be applied, plus also how the rules applied in the period of transition.

This is an opportunity to come to terms with the rules as they now stand, consider the lessons we have learned, and look at what options you may have in terms of restructuring ownership of residential land and managing taxation outcomes.

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

Bright-line Test

• • How the bright-line test applies, including:
    • Overview of the historic Bright-line rules and when they could still apply.
    • How properties sold after 1 July 2024 will be treated, including transitional issues.
  • How the main home exemption will now apply.
  • How the pattern of buying and selling rules apply.
  • The relevance to other land rules.
  • Rollover Relief
    • How these apply including the impact of the latest changes.
    • Practical considerations and options for restructuring.
  • Interest Deductibility limitation, Residential Ring Fencing and MUA Quarantining Rules:
    • application to a bright-line sale.
  • Holding cost deductibility when the bright-line rules apply.

This course will be suited to: 

The course will be suited to all levels of accountants, corporate professionals, public practice – law and accounting, general business advisors.

1.25 CPD hours

PRESENTER

Daniel Gibbons, Partner, Findex/Crowe

Daniel is a Partner for Findex in Queenstown.  Daniel has been with Findex for 16 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.