Description
Taxation of Property Transactions in New Zealand is a commentary written by prominent tax barrister Pam Davidson. It takes a thoughtful yet practical approach to the analysis of the tax law related to both real property and personal property transactions, looking at the issues that arise out of the relevant provisions in the Income Tax Act 2007 and the case law that has grown around them.
The author traverses all the various taxation provisions and explains how and when they operate and how they are interrelated, using examples from case law and Departmental publications. Complex tax concepts are explained succinctly but without sacrificing accuracy or clarity, assisted by practical examples and diagrams. Property lawyers, tax professionals, accountants, and anyone with an interest in the taxation of property transactions can find an answer to their question with ease.
With the significant recent changes in this area of law, including the bright-line test, this commentary can provide the peace of mind that comes with an understanding of relevant changes and their affects on your firm, business and clients.
Table of Contents
1. Introduction
2. The Property Charging Provisions – A Brief History
3. Land and Personal Property – An Explanation of the Terms
4. Taxable Entities
5. Profit-making schemes
6. An overview of property taxation issues
7. Purpose or intention in acquiring property
8. Business of dealing in property
9. Associated persons
10. The bright-line test for residential land
11. Certain businesses and activities on land and the 10-year rule
12. Major development or division work on land
13. Disposal of land affected by land use factors
14. Exclusions of disposals of certain types of land
15. Miscellaneous Issues (includes Transfers of land between associated persons, Time of acquisition of land, Deductions for revenue account property and their timing, Recognition of income from property transactions, Transfers of property under relationship property agreements)
Accounting
