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Tax Keys to Property

Published on 24 Sep 2004 | Took place at QV1 Building, Perth, WA

Property remains one of the main targets for the ATO and the OSR. During the last year there has been a significant and ongoing GST audit programme, the advent of the tax consolidation and debt/equity regimes, as well as significant changes to stamp duty. In addition, property transactions are inherently high value and, therefore, high risk from an advisor's viewpoint. It is essential to have the best possible knowledge and advice to address these issues.

These seminar materials covers various aspects of income tax, GST and stamp duty. Dealing with property is getting harder but these materials will equip you to provide quality advice to your property clients and help them run their businesses within the tangled mish-mash that is our tax legislation.

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

Individual sessions

Practical issues for property developers

Author(s):  Paul NEGUS This presentation focussed on the tax consolidation aspects of property development, covering topics such as:
- impact on character of transactions
- timing issues
- resetting asset tax values
- tax losses
- tax sharing agreements
- accounting, reporting and systems.

This was also presented by Carlo Franchina at the Tax Keys to Property seminar held in Perth on 24 September 2004.

Materials from this session:

Property - Debt/Equity Rules

Author(s):  Trevor PASCALL This paper covers debt/equity rules and the impact on the after-tax return of property developers and their investors.

This paper was also presented by Carlo Franchina and Ben Opie at the Tax Keys to Property seminar held in Perth on 24 September 2004.

Materials from this session:

GST issues in property development

Author(s):  Lachlan R WOLFERS Property Development has re-emerged as a significant commercial activity throughout Australia in recent years. The tax issues associated with this area are often challenging and require a good understanding of the interaction between ordinary income tax, CGT, GST and stamp duty.

Case studies in this seminar paper will deal with the following issues:
- subdividing and selling off part of a main residence (ie fulfilling the new Australian dream of converting the 1/4 acre block into quick cash)
- tax issues in demolishing a house and constructing new townhouses (becoming a one-off developer)
- speculative property development tax issues.

This is a slightly updated version of papers presented on 11 March 2004 at the 38th South Australian State Convention held at Sunset Cove and on 2 April 2004 at the 18th National Convention held in Melbourne.

This paper was also presented by Phil Renshaw and Todd Jones at the Tax Keys to Property seminar held in Perth on 24 September 2004.

Materials from this session:

Recent stamp duty changes impacting property

Author(s):  Humphry FAAS This paper covers:
- abolition of taxes and rate changes
- arrangements regarding conditional contracts
- substituted purchasers
- corporate reconstruction relief
- simultaneous put and call options
- land rich changes
- unit trusts.

Materials from this session: