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Tax - common traps with land transactions - Webinar Package

NZ $121.00
James Coleman  
James Coleman
Terrace Chambers

Webinar Package includes:

Archive Presentation  l  Booklet  l  PowerPoint Presentation

Webinar Package Fee (incl GST)

  • $91 - NZLS members and Associate members
  • $121 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

Webinar Archive Presentation

Presentation time: 60 minutes

Lawyers are the principal advisors in land transactions so being up-to-date with which land transactions will be the subject of income tax is important. The relatively new Brightline test for the sale of residential properties is not necessarily as straight forward in application as its name suggests.

Following on from a session at the Wellington CPD Top-Up Day held in February this year, James will discuss the most common tax traps encountered when dealing with land transactions.

This webinar will deal with the application of the Brightline test in detail as well as the other more established situations where land transactions are taxed. Finally, it will cover tax risks when solicitors act as trustees, issues with the definition of a settlor of a trust and the capital gains tax proposal contained in the Cullen Tax Working Group report of 21 February 2019.

Topics covered will include:

  • The Brightline test for residential land transactions
  • Other situations where land transactions are taxed
  • Tax traps for solicitors accepting roles as a trustee
  • Outline of the capital gains tax proposal.

Please contact us if you use a dial up internet connection.


Author: James Coleman
Published: 8 April 2019
Pages: 20


This paper looks at some tax issues for the lawyers with respect to land, GST and trusts plus provides some comments on the final report issued by the Cullen Tax Working Group on 21 February 2019.

One area of practice which lawyers have not given up to accountants involves land transactions where conveyancers still have the monopoly in this country. Consequently, this paper has a particular focus on land transactions. In terms of the taxation of land it will look in particular at:

  • the relatively new bright line rules for residential land sales;
  • associated persons rules;
  • the long stop 10 year rules; and
  • the exceptions to the land tax provisions.

Lawyers are often asked to be trustees of trusts and hence this paper will look at GST obligations and their interaction with trusteeships and will consider the definition of a settlor of a trust for income tax purposes, given common current drafting practices when establishing a trust.

With respect to the Cullen Tax Working Group there will be a high-level overview of some of the key points around their recommended capital gains tax.

The key pieces of legislation which will be in focus are the Income Tax Act 2007 (ITA) and the Goods and Services Tax Act 1985 (GST Act).

On the assumption that it is a solicitor that will be aware of a contemplated sale before the person’s accountant, it would be worth asking some questions around the land to ascertain the tax status of the proceeds before a client is contractually committed.

PowerPoint Presentation

These are the slides included in the webinar presentation.

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