Taxation of Land - Lesson 5 of 6

This lesson covers how GST applies when buying or selling land, and how to correctly complete the TLANZ/REINZ Agreement for Sale and Purchase (ASPRE) in practice, including the changes introduced in the Eleventh Edition 2022(4). It starts with the fundamentals of GST and the conditions for compulsory zero-rating, then works through negotiating price and filling out the agreement across the common scenarios practitioners actually encounter: selling a house outside the GST net, a commercial building, and a lifestyle block or farm where the dwelling and taxable land need to be treated separately. It also covers how nominations affect the GST outcome of a transaction. Throughout, real-world war stories illustrate the costly traps that catch even experienced advisors out — missed second-hand goods credits, misunderstood deregistration, and expensive mistakes at settlement. This lesson wraps up what you need to know to carry you through to the final lesson on case studies.