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Courses/Accounting & Tax/Income Tax

Lifestyle Blocks: The Income Tax and GST Rules

Explore the income tax and GST rules for lifestyle blocks, including business status, bright-line rules, interest deductibility, and GST registration.

Created byTEO Training
BeginnerUpdated Jan 17, 2025
Lifestyle Blocks: The Income Tax and GST Rules

What You'll Learn

check_circleUnderstand how the general income tax rules apply to lifestyle blocks.
check_circleUnderstand whether a lifestyle block is subject to bright-line and interest deductibility limitations.
check_circleProvide advice to clients on specific risks and benefits of GST registration when dealing with lifestyle blocks.
check_circleEvaluate when a lifestyle block is a taxable activity under GST rules and advise clients accordingly.

About This Course

Lifestyles blocks are often akin to taxation no man's land. Not a farm. Not a house. But something in between.

This webinar will work through the income tax and GST rules as they apply to lifestyle blocks.

We will consider whether lifestyle blocks are a business, and if so, at what point. We will look at the bright-line rules as they might apply. We will consider the interest deductibility rules as enacted and how those rules apply. We will look at whether the lifestyle block is a mixed-use asset or subject to residential loss ring-fencing.

We will work through the GST rules to help decide when a lifestyle block is a taxable activity and when it is not. The course will use practical examples to highlight the issues and the considerations.

 

Suitable for: All accounting levels

Your Instructors

TEO Training
TEO Training
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TEO Training provides practical learning experiences on primarily tax-related topics for accountants, lawyers and business advisors across New Zealand.

Daniel  Gibbons
Daniel Gibbons

Partner at Findex/Crowe

Daniel is a Partner for Findex in Queenstown. Daniel has been with Findex for 16 years, where he advises on a wide range of tax matters, including property transactions and property ownership structures, international taxation issues, the tax treatment of investments and providing structuring advice to clients, including assistance for family group restructures. Daniel is recognised as a leader in the taxation treatment of short stay accommodation, providing training to other practitioners.

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