This webinar provides a complete overview of when the sale of land is subject to income tax and will keep you up-to-date with recent tax reforms, case law and IRD policy.
Topics covered include the application of the bright-line test (including situations where non-compliance is common), the taxation of dealers, developers, builders and associated persons, the taxation of subdivision and development schemes, and the application of the various exclusions.
In addition, this webinar will consider what changes to the taxation of land transactions are likely in the future.
ORIGINAL BROADCAST DATE
6 May 2021
- Know the circumstances in which the sale of land will be subject to income tax, including under the bright-line test
- Understand when a client will be treated as a “dealer”, “developer” or “builder”, and what income tax implications arise from this
- Know when subdivisions and other land developments will be subject to income tax, including the income tax treatment of retained land
- Understand what income tax issues arise when land is transferred between associated persons
- Learn about the various exclusions that apply, including the exclusions relating to private residences
- Know what questions to ask clients to determine whether the sale of land is likely to be subject to income tax
- Understand what changes to the taxation of land transactions are currently being considered and are likely to be enacted in the future
Junior and intermediate accountants, property lawyers and others who advise clients on land transactions.
Stephen Tomlinson, Principal, Tomlinson Law