The taxation treatment of land sales that have resulted from a subdivision is complicated. This has become increasingly so following the bright-line acquisition date and the recent changes around interest deductibility.
The number of lots created, the amount of work done, the cost of the work, the nature of the work, and the intention of the owner on acquisition all impact on the taxation treatment on sale, both from an income tax and a GST perspective.

In some cases, there may also be income tax exemptions that can apply. Finally, there is the IRD view on remainder or residual land that also needs to be taken into account.

The webinar will look at the taxation rules around subdivisions and work through a number of scenarios to provide guidance on how the rules might be applied to various situations. The session will be a mix of technical and practical implications.

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

• Better understand how the land tax rules might apply to various subdivisions.
• Work through how the legislation, the Court cases, and the IRD statements can be read together to better understand the outcomes.
• Apply the rules to your client’s situation.

Suited to:

Accountants and Lawyers with clients that undertake subdivision work on land, regardless of when it was acquired or sold.

1.25 CPD hours

PRESENTER

Daniel Gibbons, Partner, Findex/Crowe

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