Taxation of Residential Property 2021 - 3 November 2021 (On Demand)

Description

New Interest Deductibility Rules / Changes to the Bright-Line Test

The new interest deductibility rules apply from 1 October 2021. For some property investors, this means that interest deductions will be phased out from 1 October 2021 to 31 March 2025. For other property investors, interest will cease to be deductible from 1 October 2021.

The new 10-year bright-line test applies to residential property (other than “new builds”) acquired from 27 March 2021. The proposed definition of a “new build”, along with other changes to the bright-line test, have been included in a Supplementary Order Paper to the latest Tax Bill.

This webinar considers the ambit of the new interest deductibility rules, including who is affected by the new rules, what type of property the new rules apply to, and when the “new build” exemption applies. Proposed changes to the bright-line test will also be considered, including proposed rollover relief for related party transfers and amendments to the new main home exclusion.

ORIGINAL BROADCAST DATE

3 November 2021

LEARNING OUTCOMES

You will:

  • Understand who the new interest limitation rules apply to
  • Know what property is subject to the new interest limitation rules
  • Learn what interest expenses the new interest limitation rules apply to
  • Know that constitutes a “new build” for the purpose of the new interest limitation rules and the bright-line test
  • Understand when rollover relief will apply under the new interest limitation rules and to the transfer of residential property under the bright-line test
  • Learn about proposed changes to the new main home exclusion to the bright-line test

SUITED TO

Accountants of all levels, property lawyers, real estate agents, mortgage brokers, financiers and others who advise on residential property transactions.

PRESENTERS

Stephen Tomlinson, Principal, Tomlinson Law

Duncan Terris, Director, Terris Legal Limited

1.5 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $215.00 excl. GST

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One-connection-one-fee

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Recordings

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Sole practitioners

A discount on webinars is available for sole practitioners. Please contact us at NZ‑learning@wolterskluwer.com to confirm eligibility.