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Breakfast Club: Taxing Property Transactions

Published on 27 Nov 2003 | Took place at Leonda by the Yarra, Hawthorn, VIC

This seminar looked at one of the top 10 technical issue areas of tax advising - the capital versus income dichotomy, as it relates to property transactions.

The property boom has produced a host of old and new tax issues for practitioners to consider and resolve. Several issues relevant to the taxing of property transactions were addressed at this seminar.

Individual sessions

Taxing Property Transactions

Author(s):  Keith HARVEY This seminar paper covers the following issues:
- when should proceeds from property sales be treated as income and when should they be treated as capital gains?
- can a property seller still distinguish between a 'mere realisation' of a capital asset versus a profit making scheme or a business operation?
- when does a property owner become a developer for tax purposes?
- does a one off property development constitute an 'enterprise' for GST purposes and when must GST be paid?

Materials from this session: