The end of a personal relationship may involve the division of relationship property between the parties. The division of tax base property between the parties to the relationship and any sale of that property to third parties will have taxation consequences. The Income Tax Act 2007 has concessionary provisions designed to mitigate the income tax consequences. Unfortunately, the Goods and Services Tax Act 1985 does not, which can lead to adverse GST outcomes.

This webinar will

• Examine what is required to ensure a division of relationship property comes within the concessionary income tax rules
• Provide an overview of how the concessionary income tax rules work
• Consider the application of the Bright-line test when relationship property includes residential land
• Highlight the potential GST pitfalls and things to consider
• Discuss tax planning and anti-avoidance issues concerning the use of relationship property agreements

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

• identify how the income tax rules apply to the division of relationship property and when concessionary treatment will be available
• identify the potential GST issues that arise from the division of relationship property and how to address them
• identify potential tax planning opportunities and anti-avoidance concerns
• advise your clients of the tax consequences of the division of relationship property.

Suited to:

This webinar is suitable for accountants and lawyers who are involved in advising clients and/or negotiating the division of relationship property on behalf of clients.

Duration: 1.00 CPD hours (55 mins plus 5 mins Q&A)

PRESENTER

Stephen Richards, Partner, Findex

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 20 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.