Online CPD Module l Booklet l PowerPoint Presentation
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Online CPD Module
Presentation time: 60 minutes
There are a significant number of current tax issues in the property field. These issues include on-going improvements to the compulsory GST land zero-rating rule and related matters, the treatment of GST in valuations, changes to the tax treatment of lease inducement, surrender and other similar payments and new rules relating to the deductibility of expenditure on mixed-use assets.
You will consider
- New income tax treatment of lease inducement, surrender and other similar payments
- Refresher and update on the compulsory land GST zero-rating rule
- Treatment of GST in valuations, including the recent Sayes case
- New rules relating to deductibility of expenditure on mixed-use assets such as baches.
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Authors: Barney Cumberland
Published: 10 June, 2013
A lease inducement payment (LIP) is a (generally lump-sum) cash payment by a landlord to a tenant, or prospective tenant, as an inducement to enter into a lease. A lease surrender payment (LSP) is a payment typically made by a tenant to the landlord, but in some cases landlord to tenant, in consideration for terminating a lease prematurely.
If enacted, proposed legislative amendments will radically alter the income tax treatment of LIPs and LSPs, as well as other, similar arrangements concerning analogous land rights, with effect from 1 April 2013.
These are the slides included in the webinar presentation.
Number of Slides: 18