This comprehensive guide discusses the key income tax and GST issues associated with buying, selling, owning and leasing property.

Substantive legislative changes have occurred since the publication of the sixth edition, the most important being the new ring-fencing rules for residential rental property and the extension of the bright-line test. Inland Revenue has also been very active in issuing rulings in this area, with new and updated statements on the bright-line test, the compulsory zero rating of land, resource consent issues and the treatment of building fit-out.

The new edition has been fully revised and updated for these and other changes.

Topics covered include:

• choosing ownership vehicles for property purchases
• tax-effective financing
• purchasing the property
• residential investment properties
• commercial investment properties
• bright-line test and intention of disposal
• builders, land dealers, developers and rezoning
• development and subdivision activities
• forestry and farm land
• restructuring ownership of existing properties
• selling the property.

Practical and up to date, this book will provide readers with the knowledge required to comply with the new tax landscape as well as effectively manage tax expenses for property transactions.