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Published on 06 May 06
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
The family home is often the most valuable asset owned by an individual and in rising real property markets securing the CGT main residence exemption is critical. Further, residential land holdings often give rise to subdivision and development opportunities particularly in growth regions. Gordon has significant practical experience in this area and will expose the problem tax issues which may arise in practice. This paper focusses on:
securing main residence exemption
does Janmor Nominees have contemporary relevance?
strategies for main residence subdivisions/developments and for land holdings exceeding 2 hectares
accessing CGT concessions
when does residential land become trading stock/a revenue asset?
when does a residential land owner become a property developer?
Gordon is a chartered accountant in sole practice as a tax consultant. He has a particular emphasis on capital gains tax and is the editor of Cooper’s Capital Gains Tax Guide, which is a loose-leaf service published by Australian Tax Practice and the author of Cooper’s TLIP Capital Gains Tax. He advises on the taxation of international transactions and corporate matters as well as tax matters generally. He is a former President of the Taxation Institute of Australia and is President of the Committee of the Australian Branch of the International Fiscal Association. He is a Visiting Professorial Fellow at the Australian School of Taxation in the Law Department of the University of New South Wales. Current at 17 October 2008
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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