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GST Zero-Rating for Transactions Including Land

GST Zero-Rating for Transactions Including Land
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27 March 2020
Thsi course has been postponed to 14 April and will be held by live web stream only.
See also: COVID-19 Programme Updates


A zero-rating regime for business-to-business land transactions has applied from 1 April 2011 and has had a fundamental impact on the landscape in this area. This seminar will take a practical approach in stepping you through the regime and will help you identify and manage the key GST risks and opportunities.

This seminar will include:

  • A brief overview of the GST zero-rating for land regime
    - What?
    - When?
    - Who is at risk?
  • The contract
    - Good drafting and pricing practice
    - GST gross up?
    - Do you delete the going concern clause?
    - Pricing gone wrong (inclusive pricing)
    - GST information on the front page and the Schedule
  • The period between contract and settlement
    - Impact of nomination
    - Second hand goods – what can go wrong?
    - GST registration after contract – The Ling and Holdaway cases
    - Changing GST treatment – The Wang case
    - Examples from the IR CZR guidelines
  • After settlement
    - The need to test land use - s 20(3J)
    - Correcting GST treatment after settlement
    - Liability to the IR for GST – s 5(23)
    - Liability to the other party for GST – warranty claim cases and the latest ADLS agreements
  • Other issues
    - Pre-emptive rights over land (ie not an interest in land), selling non-land assets or business assets without an interest in land – GST at 15%
    - Mixed supplies – eg farm / farmhouse, shop and apartment above the shop
  • Principles emerging from the case law
    - What do the main cases of Wang, Ling and Holdaway say about CZR and best practice?
    - GST Act prevails over contract
    - CZR is compulsory
    - Settle means actually settle.

Learning objectives

By attending this seminar you will gain:

  • A broad knowledge of the zero-rating rules for transactions including land.
  • A better understanding of the key GST risks and opportunities available for your client.
  • How to deal practically with these risks and opportunities in the contract, the pre-settlement period, on settlement and thereafter.

Who should attend

Property and commercial lawyers advising on transactions involving land where one or both parties are GST registered or where the land can be used in a business.

Paper

A short paper, in PDF format, together with a copy of the powerpoint presentation will be emailed out prior to the seminar.

Times

  • 4.00pm - 6.00pm (tea and coffee available on arrival)

Fee (incl GST)

In Short

  • $125 - NZLS members and Associate members
  • $175 - Non-members
  • Live web stream group pricing available! Click here

Do you want to register more than one person for this course? Click here
Download registration form

Live Web Stream 14 April

Presenters

Riaan Updated pic WEB EDIT Riaan Geldenhuys
Barrister, Auckland

Riaan practises as a barrister sole and advises a number of high-profile companies on income tax, GST and Customs issues. He has several clients in the property sector, including receivers, liquidators, accounting and law firms. Before joining the bar, Riaan was a tax disputes resolution specialist for PwC for more than 10 years, and worked in senior roles in Inland Revenue. Prior to immigrating from South Africa, he practised as a solicitor and was a litigation partner from 1999.


Eugen-Tombitas WEB EDIT Eugen Trombitas
Partner, PwC, Auckland

Eugen is a very experienced GST practitioner. He has assisted clients with numerous transactions involving land, CZR and the GST rules. Eugen’s extensive work on CZR includes assisting officials with the original policy design (and subsequent law changes), advising on the various versions of the ADLS/REINZ real estate contract and GST schedule, running GST seminars for various professional bodies, developing GST valuation protocols for the Property Valuers Institute, and being involved as an expert witness in several land GST cases. He brings a practical perspective to this area of GST and can draw on his experience to provide best practice tips and avoid traps.

Cancellation and refund policy

If written notice of cancellation of a registration arrives before the day of the seminar we will refund the registration fee, less an administration fee of $40. If you are unable to attend, you may send a substitute - to correctly assign CPD credit, CLE must be notified in advance. NZLS CLE Ltd reserves the right to cancel or reschedule seminars if necessary.

Registrant Details

Use this window to add all the registrants you wish to register on behalf of. If you want to attend the course also, ensure you add yourself as one of the registrants. Make sure you press ‘save’ after adding each new registrant.

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GST Zero-Rating for Transactions Including Land - Live Web Stream

14 April - At your desk or device

NZ $175.00

Multiple Registration
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CONTACT
INQUIRIES
freephone (within NZ)
0800 333 111

EMAIL 
cle@lawyerseducation.co.nz

PHONE
04 472 7837

FAX
04 463 2986
 
ADDRESS
NZLS CLE Ltd
Level 4, 17-21 Whitmore Street
Wellington 6011

DX SP 20202
PO Box 5041
Wellington 6140
New Zealand