Description

The Practical Stuff

This webinar considers practical issues that arise with GST and property transactions, and incorporates the GST reforms which were enacted at the end of March 2023.

The main focus of this webinar is GST issues arising with agreements for sale and purchase of real estate, including how the GST pricing clauses and GST warranties in the ADLS / REINZ Agreement for Sale and Purchase of Real Estate apply. GST issues arising with nominations, zero-rating and “split supplies” will also be considered in some detail.

Other topics covered include the ability to treat the supply of property with minor taxable use as an exempt supply, the GST treatment of short-stay accommodation, the GST treatment of subdivisions, and claiming second-hand goods credits.

ORIGINAL BROADCAST DATE

25 May 2023

LEARNING OUTCOMES

You will:

• Learn how the GST clauses in the ADLS / REINZ Agreement for Sale and Purchase can affect your clients
• Understand when the sale of land involves “split supplies” and how this is dealt with in the ADLS / REINZ Agreement for Sale and Purchase
• Know how the compulsory zero-rating rules apply, when problems can still arise, and how to deal with them
• Understand what GST issues arise with nominations and nominees, and how to avoid the pitfalls
• Know when the supply of short-stay accommodation will be subject to GST, including the impact of recent legislative changes
• Understand the circumstances in which GST does not need to be accounted for on a one-off subdivision
• Learn about the impact of recent legislative changes on the calculation of second-hand goods credits, and helpful tips on claiming second-hand goods credits

SUITED TO

Accountants, tax lawyers, commercial lawyers, property lawyers and others who advise clients on property transactions.

PRESENTER

Susan Ballantyne, Senior Associate, Tomlinson Law.