The Tax Amendment Act in March introduced additional changes to the bright-line rules following the 2021 announcements. The second “remedial” changes have now been introduced in the Taxation (Annual Rates for 2022-2023, Platform Economy, and Remedial Matters) Bill (No 2) on 8 September 2022.

Following on from Part 1 and 2 earlier in the year, we will cover the significant changes (in particular how roll-over will apply) that have been introduced and/or proposed in 2022.

PART 3 – BRIGHT LINE

In this course, we will outline the changes and provide practical examples of how these might impact those who own residential property.

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

Bright-line Test

• • How the updated and proposed bright-line test will apply following these changes, including:
    ~ What properties will be affected and from when
    ~ How “New builds” will be treated
  • How the “main home” exemption will apply given change to 100% main home, including:
    ~ What happens when there is a change in use during ownership period
    ~ How the 12-month buffer rule will apply

Rollover Relief

• • To what situations do these apply to under the Amendment Act and as proposed in the recent Tax Bill
  • Practical considerations.

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

1.25 CPD hours

To purchase Part 3 only, please click here

PART 4 – INTEREST DEDUCTIBILITY

In this course, we will outline the changes and provide practical examples of how these might impact those who own residential property.

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

Interest Deductibility

• • Revisiting how these rules apply and to what properties.
  • How the interest deductibility criteria applies, including:
    ~ distinction between new and old property
    ~ Timing of loss of deduction including the 4-year phase out of deduction
    ~ Impact on “new builds”
  • How roll-over relief will apply to grandparent loans.
  • The practical implications of the proposed September 2022 changes including the interaction between the mixed-use and interest deductibility limitation rules.

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

1.25 CPD hours

To purchase Part 4 only, please click here

PRESENTER

Daniel Gibbons, Partner, Findex/Crowe
Daniel is a Partner for Findex in Queenstown. Daniel has been with Findex for 14 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.