Following the introduction of the Taxation (Annual Rates for 2023-2024, Multinational Tax, and Remedial Matters) Act 2024 the bright-line period has again been reduced to two years. The rollover relief rules have also changed as has the main home exemption.

Further, the relationship and application of the rollover relief rules, the relationship property rules and the death rules as they relate to residential property and bright-line continue to be complicated to apply.

The changes to the bright-line rules came into effect in relation to land disposals on or after 1 July 2024. There has been a temptation to consider the reduction of the period to two years means bright-line is no longer a matter of concern and yet it continues to give rise to outcomes you may not expect.

In this course, we will outline the current rules and provide practical examples of how these might impact those who own residential property, taking into account the relevant rules.

We will also cover any recent legislative changes that might arise.

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

Bright-line Test

• Demonstrate how the updated bright-line test will apply following recent changes
• Demonstrate how the “main home” exemption will apply

Rollover Relief

• Identify which situations these apply to under the current bright-line rules
• Explain rollover under RPA and death rules and how the rules inter-relate.
• Identify the practical considerations.

Duration: 1.00 CPD hours including Q&A

Suited to:

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

PRESENTER

Daniel Gibbons, Partner, Findex/Crowe
Daniel is a Partner for Findex in Queenstown. Daniel has been with Findex for 17 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.