This is Part 2 of a four-part series which covers the relevant taxation considerations that Real Estate Agents and others working in the real estate industry need to know.
In Part 2 of the series we will cover the various income tax and GST considerations that apply to vendors on the sale of property.
The series will include relevant real-life scenarios and will also take into account the impact of COIVD-19 on the industry.
Upon satisfactory completion of Part 2, you will be able to understand…
- in more detail how the sale of property can be subject to taxation in different situations, including:
- property dealers
- property developers
- one-off subdivisions/developments
- bright-line rule
- other taxation rules;
- what potential exclusions might apply to the taxation of property;
- other sale considerations, including valuation assigned to sale components, depreciation recovery outcomes and treatment of
- an overview of the Residential Land Withholding Tax Rules (RLWT);
- the key considerations from a GST perspective on the sale of property, including the:
- difference between zero-rated; standard-rate; exempt; and non-taxable transactions;d
- impact of whether a transaction is “plus GST” and “incl of GST”;
- GST considerations on sale, including undertaking final GST adjustments;
- implications of long settlement periods;
- impact on transactions when the GST status of the vendor or purchaser changes;
- impact of changing use of an asset and deemed de-registration.
Total CPD hours: 1.25 (1 hour plus 15 minutes Q&A)
The course is suitable to anyone involved in the property industry, including:
- Real Estate Agents
- Property Brokers
- Property Managers
- Property Valuers
- Property Owners/Investors
Daniel Gibbons, Associate Partner, Findex/Crowe
Daniel is an Associate Partner for Findex in Queenstown. Daniel has been with Findex for 12 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 August 2020
9:30 am - 10:45 am