This course will focus on practical questions and issues that people have in relation to the residential ring-fencing rules.
These rules have only come into effect this year and although they had been discussed at length, the application of the rules
has been more problematic than anticipated. We will cover an overview of the rules, focusing in particular on those that
create issues for us in practice.
We will work through a number of questions that have we have been asked in terms of how to practically deal with these rules, how to
lodge returns with the Inland Revenue Department to ensure that the appropriate position is taken, and the issues surrounding the
election process and certain aspects of look-through entities such as a look-through company or a partnership.
Whilst looking at practical examples, we will cover the things that you need to know and the position that has been put forward by the
Inland Revenue Department, in practical terms, on how to deal with these rules. We will look at both New Zealand and overseas
properties when working through the above.
Upon satisfactory completion of this activity you will be able to:
- Understand practically how the loss ring-fencing rules will apply;
- Address property by property versus portfolio issues and make appropriate choices;
- Enter the appropriate information in the income tax returns so as to ensure the return details are processed correctly.
Total CPD Hours: 1.25 (1 hour + 15 min Q&A)
Accountants advising clients and completing income tax returns for clients that have residential rental properties and residential
Daniel Gibbons, Associate Partner, Findex/Crowe
Daniel is an Associate Partner for Findex in Queenstown. Daniel has been with Findex for 11 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.
- 5 November 2020
2:00 pm - 3:15 pm