Published on 18 Oct 08
Property developers face complex and changing GST rules and contentious scrutiny and approaches by the ATO. From small developers building a couple of units to larger complexes with many apartments, there are numerous GST issues to be addressed to ensure that any ATO audit activity is not a problem. With Australia's ageing population, an increase in the number of retirement villages has also created some GST traps. The key issues discussed in this paper are:
- margin scheme overview including a look at rulings and cases
- change of purpose rules when leasing residential property
- GST complicating retirement village developments.
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