Understanding the income tax and GST rules that apply to residential and commercial landlords can be a challenge. Although there are some rules that apply equally to residential
and commercial landlords, there are some key differences which can be difficult to apply, in practice. This is about to get worse with the proposed changes to ring-fencing of
residential rental losses, and the potential introduction of tax on capital gains.
The session will provide an overview of the rules and how they might apply with practical examples.
The course will be broken into three segments:
- Income tax rules that impact on residential landlords;
- Income tax rules that impact on commercial landlords;
- GST rules that impact on both.
The webcast will cover:
- Land taxation rules that apply on sale
- Standard rules
- Bright-line and loss ring-fencing
- Depreciation of assets, including buildings
- Leasehold improvements
- R & M
- Lease premiums and discounts
- Capital gains tax
- Change of use
The webcast will work through a variety of practical examples, including, how the existing rules apply and how the proposed changes will impact on real property investment.
Upon satisfactory completion of this activity you will be able to:
- Understand when a sale may be taxed
- Understand what tax may be payable on sale
- Understand what, if any, ring-fencing of losses may apply
- Understand the GST implications for landlords
- Apply these to practical situations
Total CPD Hours: 1.25 (1 hour + 15 min. Q&A)
Accountants and Real Estate Agents.
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.
- 19 May 2021
2:00 pm - 3:15 pm