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Tax issues for property investors, one-off builders and developers presentation


In 1968 Professor Stone listed as one of a number of “apparently meaningless categories” what he called “the distinction over an unusually penumbral area between capital and income”. That uncertainty continues and now affects property investors and developers both in an income tax/CGT context, and also in a GST context. This presentation examines the current issues affecting property investors and developers, with a view to providing some certainty and clarity in an increasingly difficult area. Issues covered include:

  • distinguishing income from capital for small scale developments - a new take on an age-old theme
  • how long does it take before a profit or gain is taxed on capital account?
  • what is the number or scale of developments required before a gain is taxed as ordinary income?
  • the practical implications of land becoming trading stock
  • interaction issues between the income tax/CGT position and GST.

Author profile

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
Click here to expand/collapse more articles by Lachlan R WOLFERS.


This was presented at 45th Victorian State Convention: Finding buried treasure .

Get a 20% discount when you buy all the items from this event.

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