Beyond the Bright-Line Test: Comprehensive Guidance on Land Taxation Rules in New Zealand
There is a misconception among the public and some advisors that the Bright-line Test is now the only rule that is relevant to land sales. They often ignore the 14 other provisions in the Income Tax Act 2007 that can apply to non-residential land, or land that has been owned for longer than the Bright-line Test period. In these situations, if the Bright-line Test is incorrectly applied, this may result in a worse outcome for your clients because they may miss out on deductions available in the calculation of their income.
To provide sound advice, it is necessary that you are aware of the full suite of land provisions. This is particularly relevant if you have clients in the property industry such as builders or developers.
In this session, and through practical examples, we will discuss:
Suitable for: Accountants at all levels, junior and intermediate tax advisors, real estate professionals, and lawyers providing advice on Agreements for Sale and Purchase of Land.
TEO Training provides practical learning experiences on primarily tax-related topics for accountants, lawyers and business advisors across New Zealand.
Partner at Findex/Crowe
Daniel is a Partner for Findex in Queenstown. Daniel has been with Findex for 16 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.
