Recent developments in GST and property paper

Member Price: $57.00

Non Member Price: $75.00

Publication date: 05 May 06

Source: SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Abstract:

GST and property is an increasing area of dispute, usually with significant financial consequences for clients. The rules seem to be based as much on 'lore' as 'law'. This paper separates the fact from the fiction, and critically analyses some fundamental rulings and cases which assist in determining whether a GST liability really arises. Issues include:

  • the margin scheme debacle - what the ATO's draft rulings really mean for you and an insight into recent disputes
  • what the Marana Holdings decision means to the sale of serviced apartments, resorts, holiday houses and retirement villages
  • property developments - determining when are you required to be registered for GST, and when can you deregister.
This paper was also presented on 26 May 2006 at the NSW State Convention held in Leura.

Author profile:

Author Photo - Lachlan Wolfers CTA
Lachlan Wolfers CTA
Lachlan is the leader of KPMG’s Indirect Tax practice in China and a member of KPMG’s Global Indirect Taxes leadership team. He was formerly a director of The Tax Institute, and leader of KPMG’s Indirect Taxes and Tax Controversy practices in Australia prior to his relocation to China in 2011. In his current role, Lachlan is assisting multinational companies transition to VAT in China. He is a frequent presenter and media commentator on VAT issues in China, and is currently advising China’s Ministry of Finance and State Administration of Taxation on several tax reforms, including VAT and Advance Rulings.
Current at 27 August 2012
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