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Retirement Villages: Understanding the tax implications

Published on 25 Oct 2006 | Took place at The Chifley on Lennons, Brisbane , QLD

The Retirement Living and Aged Care industry is growing rapidly. The sector has traditionally been operated by mainly non profit organisations but in recent times there has been a significant growth in the number of 'for profit' companies operating in this sector.

New laws, regulations, ATO pronouncements and transitional rules are developing on a piecemeal basis and the resulting complexity needs to be understood by anyone advising in this area.

These seminar materials provide an understanding of the complexities surrounding the structures, development, ownership, management and sale of Retirement Living and Aged Care facilities.

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

Individual sessions

Retirement villages - income tax and CGT issues

Author(s):  Mark WEST

Topics covered in this paper include:

  • developer versus operator
  • capital versus revenue distinctions - resident contracts
  • lease premium versus resident loan
  • income tax treatments of deferred management fees, sharing of capital gain/(loss) with residents
  • sinking fund and capital replacement fund issues - trust funds
  • tax planning and structure issues
  • sale of villages - capital gain or revenue
  • transitional issues TR 2002/14 versus TR 94/24.
This paper was also updated and presented at the 'Retirement Villages: Understanding the tax implications' seminar held in Brisbane on 25 October 2006.
Materials from this session:

GST traps and opportunities within the retirement villages and nursing homes industry

Author(s):  Ken CLAUGHTON

This paper covers the following:

  • GST classification of retirement village and nursing home supplies to residents
  • entitlement to input tax credits during construction of retirement villages and nursing homes
  • adjustment of input tax credit claims on change of use or on sale
  • watch-out - acquisition of retirement village or nursing home as a GST-free supply of a going concern - Division 135 increasing adjustment
  • watch-outs - retirement village and nursing home structures leading to inequitable GST results.
This paper was also presented by Heath Shonhan at the 'Retirement Villages: Understanding the tax implications' seminar held in Brisbane on 25 October 2006.
Materials from this session:

Legal structuring of retirement villages and nursing homes

Author(s):  Steven SMITH

This paper covers the following topics:

  • what are retirement villages and nursing homes?
  • what are the different ownership structures and why?
  • legal challenges facing the retirement village and nursing home industry
  • overview of the industry and its future.
This paper was also presented by Tim Longwill at the 'Retirement Villages: Understanding the tax implications' seminar held in Brisbane on 25 October 2006.
Materials from this session: