GST Adjustments 2026 - 21 April 2026 (On Demand)
1.5 CPD Hours
Description
Gain practical, up to date guidance on GST adjustments for the 31 March 2026 period, including the latest rules for mixed use assets.
This practical webinar, which incorporates recent legislative changes, will help you identify and calculate any GST adjustments which need to be made in GST returns for the period ending 31 March 2026.
Topics covered include how adjustments are calculated, the application of the adjustment rules when assets enter and exit the GST base (on purchase, registration, sale and deregistration), and when the use of an asset changes to total taxable or total non-taxable use.
Changes to the adjustment required on the sale of an asset used for both taxable and non-taxable purposes will be considered, including the application of the adjustment rules on the sale of a farmhouse which has been used in the farmer’s taxable activity.
Extensive use of worked examples will illustrate the application of the GST rules which apply to goods and services used for both taxable and non-taxable purposes.
ORIGINAL BROADCAST DATE
21 April 2026
LEARNING OUTCOMES
You will:
- Understand the practical effect of the recent changes to the GST adjustment rules.
- Learn how to determine the percentage taxable use of an asset, both on acquisition and when making adjustments.
- Know how to determine whether an adjustment is required and, if so, how to calculate the annual adjustment.
- Understand how the adjustment rules apply to assets which were zero-rated on purchase.
- Know when adjustments are required when an asset enters the GST net on purchase or registration, or leaves the GST net on sale or deregistration.
- Learn when one-off adjustments are required to be made and how they are calculated.
SUITED TO
Intermediate to senior accountants, in-house accountants, tax lawyers and others who advise clients on GST issues.
PRESENTER
Harry Waddell, Partner, Tomlinson Law
Harry is a partner at Tomlinson Law. Prior to joining Tomlinson Law, Harry worked as a senior tax manager in an international accounting firm. Harry has an LL.B. and a M.Com. (1st class honours) from the University of Canterbury, and is currently studying for a PhD part-time at the University of Canterbury. Harry has experience working on a range of GST issues including agreeing GST apportionment and adjustment methodologies with Inland Revenue and successfully obtaining GST binding rulings.
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