The taxation treatment of land sales that have resulted from a subdivision of an original larger block is complicated territory.
The number of lots created, the amount of work done, the cost of the work, the nature of the work, and the intention of the owner on acquisition all impact on the taxation treatment on sale, both from an income tax and a GST perspective.

In some cases, there may also be income tax exemptions that can apply. Plus, there is the IRD view on remainder or residual land that also needs to be taken into account.

The webinar will look at the taxation rules around subdivisions and work through a number of scenarios to provide guidance on how the rules might be applied to various situations.

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

• Better understand how the rules might apply.
• Work through how the legislation, the Court cases, and the IRD statements can be read together to better understand the outcomes.
• Apply the rules to your client’s situation.

Duration: 1.25 hours including 15 minutes for questions

Suited to:

Accountants and Lawyers with clients that undertake subdivision work on land, regardless of when it was acquired or sold.

PRESENTER

Daniel Gibbons, Partner, Findex/Crowe
Daniel is a Partner for Findex in Queenstown. Daniel has been with Findex for 13 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.