Description

The Practical Stuff

This webinar considers practical issues that arise with GST and property transactions.

This webinar will examine the 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.

Other topics that will be covered include Inland Revenue’s draft guidance on GST and subdivisions, the GST treatment of short-stay accommodation, the ability to treat the supply of property with minor taxable use as an exempt supply, and practical tips in claiming second-hand goods credits.

ORIGINAL BROADCAST DATE 

16 May 2024

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
• Learn about Inland Revenue’s latest guidance on when GST needs to be accounted for on a one-off subdivision
• Understand when the supply of short-stay accommodation will be subject to GST, including the impact of the platform economy rules
• Learn about the impact of 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

Stephen Tomlinson, Principal, Tomlinson Law