Special Edition Webinar: Everything Brightline
Since its introduction in 2015 the Bright line test has undergone many changes. It is now two complex set of rules (land acquired before 27 March 2021 and land acquired after this date) with equally complex exemptions. Given the rules potential now need to be considered with every residential property sale they also present significant risk to accountants and lawyers who are advising clients. “Everything Brightline” is a special edition webinar which will look to step through the rules and exemptions from
Description
Since its introduction in 2015 the Bright line test has undergone many changes. It is now two complex set of rules (land acquired before 27 March 2021 and land acquired after this date) with equally complex exemptions. Given the rules potential now need to be considered with every residential property sale they also present significant risk to accountants and lawyers who are advising clients.
“Everything Brightline” is a special edition webinar which will look to step through the rules and exemptions from start to finish to give you a comprehensive understanding of the regime.
This webinar will cover the following topics:
The definition of residential land
- 10 yr and 5 yr Land
- Bright line acquisition date
- Farmland and business premises
Main Home Exclusion
- When it applies
- Which house is the main home
- Building
- If moving out
- Flatmates
- Subdivision
- Lifestyle blocks
- Used 2 or more times within 2 years
Roll over relief
Death/Inheritance
Change of trustee
Relationship property
Capital costs/Holding costs
Losses
Land rich companies and trusts
Presenters
Michael Turner
Michael is a Tax Partner at Polson Higgs and has presented extensively on tax matters over the last 25 years. He is currently a member of the Institute's National Tax Advisory Group and has previously been a lecturer at the University of Otago in Taxation. He advises a large number of small businesses, Chartered Accountants and Lawyers on tax issues with a focus on providing practical advice on complex issues.
Ryan Ehlers
Ryan is a Partner in the Tax Division. He is involved in both day-to-day compliance work for corporate clients, SMEs and other professionals, as well as providing specific tax advice on individual transactions.