Description

This highly practical webinar examines when subdivisions are subject to income tax (including an examination of IRD’s new interpretation statement on what constitutes “minor work”) and the key tax issues arising for dealers, developers and builders (and associated persons). Extensive use of case studies will illustrate the application of these principles.

ORIGINAL BROADCAST DATE

3 September 2020

LEARNING OUTCOMES

You will:

• Know what constitutes a development or division scheme.
• Understand when a development or division scheme commences.
• Know what constitutes “minor work” and “significant expenditure”.
• Learn about the IRD’s new interpretation statement on what constitutes “minor work”.
• Understand the IRD’s current position in relation to the taxation of land retained after completion of a subdivision scheme.
• Know when a person will be treated as a “dealer”, “developer” or “builder”.
• Understand when a land-related business starts and ends.
• Learn when the various income tax exemptions apply.

SUITED TO

Accountants of all levels, tax lawyers, property lawyers and others who advise clients on subdivisions and developments.

PRESENTER

Stephen Tomlinson, Principal, Tomlinson Law