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Property Development and Subdivision: Income Tax, CGT and GST implications

Published on 24 Feb 2006 | Took place at Radisson Playford Adelaide, and Crowne Plaza Darwin , SA

This seminar series was held in:
- Adelaide on 14 February 2006
- Darwin on 24 February 2006.

Could the tax issues associated with property development become any more complex? Whether you have clients who are property developers or simply doing 'one off' speculative developments, getting the income tax, CGT and GST positions correct could mean the difference between success and failure. This intensive seminar highlighted the key income tax, CGT and GST issues with the development of property.

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

Individual sessions

Property development and subdivision: income tax, CGT and GST implications

Author(s):  Michael BUTLER

Topics covered in this paper include:

  • income tax
    • business or mere realization?
    • pre CGT and post CGT land
    • valuation and calculation
    • recognising profit
  • capital gains tax
    • subdividing vs partitioning
    • converting to community/strata title
    • improvements to pre-CGT land
    • CGT discount
    • main residence exemption
    • deceased estates
  • GST
    • does your client need to register for GST?
    • meaning of 'enterprise' and requirements for ABN
    • treatment of new vs existing residential premises, commercial residential premises and non-residential premises
    • change of purpose
    • partnerships and joint ventures
  • distressed sales.
Materials from this session:

Recent developments in GST treatment of property transactions

Author(s):  Anetta CURKOWICZ

Topics covered in this paper include:

  • sales of residential property
    • GST treatment of holiday houses, separately-titled motel and resort accommodation
    • in specie distributions of residential property: GST and stamp duty issues
    • claiming input tax credits for display homes
  • 'going concern' exemption
    • requirements
    • GST Ruling GSTR 2002/5
    • sales of tenanted buildings
    • multiple vendors/purchasers
  • margin scheme
    • new valuation and contractual requirements
    • inherited property
    • development costs
  • avoidance schemes
    • grouping schemes
    • margin schemes
    • legislative response.
Materials from this session: