Description

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, the taxation of dealers, developers, builders and associated persons, the taxation of subdivision and development schemes, and the application of the various exclusions.

ORIGINAL BROADCAST DATE

27 April 2024

LEARNING OUTCOMES

You will:

• Know the circumstances in which the sale of land will be subject to income tax, including under the bright-line test
• Understand when a person 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 new main home exclusion to the bright-line test
• Know what questions to ask clients to determine whether the sale of land is likely to be subject to income tax

SUITED TO

Junior and intermediate accountants, property lawyers and others who advise clients on land transactions.

PRESENTER

Stephen Tomlinson, Principal, Tomlinson Law.