The rules for determining when the sale of land will be subject to income tax are complex, and the application of some of those rules is more of an art than a science.
Inland Revenue has received increased government funding to audit land transactions which, coupled with the requirement to provide tax-related information when land is bought and sold, enables Inland Revenue to target land sales more effectively than ever before. Given the amounts involved, failing to understand or address the tax issues that arise when undertaking land transactions can have serious consequences.
This webinar provides a complete overview of when the sale of land can be subject to income tax (including under the bright-line test) and will keep you up-to-date with recent tax reforms, case law and IRD policy.
22 May 2018
Junior and intermediate accountants, property lawyers and others who advise clients on land transactions.
Stephen Tomlinson, Partner, Tomlinson Law
1.5 CPD Hours