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Tax in Tropical Paradise - Case Study - Structuring Issues
William (Bill) D THOMPSON
The objective of this paper is to nominate legal issues relevant to the entity structure which might be used in the accompanying case study for undertaking a mixed use property development in Queensland. The case study postulates multiple unrelated parties as equity participants in a freehold mixed use development; and then considers the legal structures of "true" joint venture, partnership, company and unit trust.
This presentation outlines : Multi Stage Development including apportioning raw land costs, allocation of local authority contributions and charges, the findings in Kurts' case, allocation of development costs, administration and management costs, the findings in Steele's case, holdings costs, building on Crown land, golf courses and enhancement issues.
Paul VON NESSEN
This paper will in concentrate upon the two most recent and important of developments in property ventures: the managed investment scheme legislation and the amendments to the fundraising provisions in the Corporations Law which will be brought in by the CLERP Bill later this year.
Topics include: general operations of the GST; treatment of GST and property; unimproved land; issues effecting developers of new land and houses; real estate and individuals; sale of a business; commercial premises; distribution of property by trusts.
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