Special Edition Webinar Rural Sale & Purchase Contracts – Getting it Right- May 2022
With purchase prices running into the millions of dollars it is imperative that a farm sale and purchase agreement is robust from a legal, tax and accounting perspective. With that in mind a collaborative approach is required between the lawyer and accountant to ensure that all matters are adequately covered.
Description
This webinar is aimed at professionals who are involved in providing advice to prospective vendors or purchasers of rural land. Specifically, the webinar will cover the following topics:
GST
- Correctly completing Schedule
- GST on the farmhouse and interpretation statement IS 20/05
- Mixed supplies
Purchase Price Allocation
When is allocation required?
- Treatment of crops
- Dwelling/curtilage
- Consequences of not completing an allocation
Other Issues
- Development expenditure
- Forestry
- Emissions units
- Water rights - treatment of resource consents for land use, right to take or convey water
- Bright-line test for residential land
- Contemporaneous agreements - Option to acquire livestock, stock feed, plant and equipment as part of the agreement
Presenters
Tony Marshall
CPD Hours and Recordings
1.25 CPD Hours
Who should attend?
This webinar is aimed at professionals who are involved in providing advice to prospective vendors or purchasers of rural land.