Description

New 2-year bright-line test, main home exclusion, and rollover relief.

This webinar examines a number of issues arising under the new 2-year bright-line test, including:

• When the new 2-year bright-line test will apply
• How to determine when the bright-line period starts and ends
• When the new main home exclusion will apply, and
• When the new rollover relief provisions will apply

This webinar also considers when the RLWT rules apply, including how to determine whether a landowner is an offshore person when the property is owned by a trust.

ORIGINAL BROADCAST DATE

13 June 2024

LEARNING OUTCOMES 

You will:

• Know when the new 2-year bright-line test applies, and when the previous bright-line tests still apply
• Understand how to determine the date of acquisition of property, and how to calculate the bright-line period
• Know when the new main home exclusion applies, including when a family home is being constructed on the land
• Understand when the other exclusions to the bright-line test (including for inherited land) will apply
• Learn about the new rollover relief rules, and how they apply to transfers to and from trusts and companies
• Understand when the RLWT forms need to be completed
• Learn when RLWT will apply and how to calculate the amount of RLWT
• Know when a trust will be treated as an offshore RLWT person

SUITED TO 

Accountants of all levels, property lawyers and conveyancers, and others who advise clients on land transactions.

PRESENTERS

Stephen Tomlinson, Principal, Tomlinson Law