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Property Masterclass

Published on 31 Jul 2013 | Took place at RACV Club, Melbourne, VIC

    The property landscape is constantly evolving, and the practical challenges and opportunities never stop. Despite the downturn in the property market, the everyday activities of property developers, owners and investors continue to raise difficult tax issues. At the same time, property continues to be a focus area of the Australian Taxation Office and State Revenue Office of Victoria, creating even more headaches.
    This masterclass was for residential and commercial property experts and their advisors. It provided updates on the key and critical tax and legal issues faced by practitioners with clients in the property game. The program was developed with an emphasis on the practical application of current legal regulations.

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

Individual sessions

Unit trusts and property

Author(s):  Michael HAY

This paper assesses the various features of the modern unit trust for holding real property and the typical tax and commercial issues that arise in practice when capitalising, managing and restructuring unit trusts involved in property transactions.

Topics covered include:

  • pros and cons of unit trusts against other acquisition vehicles - a re-think?
  • capitalise/borrowing at trustee or unit holder level?
  • utilisation of tax losses ? Issues surrounding fixed trusts
  • managing UPE and Div 7A issues
  • accessing tax shelters from capital works and allowances
  • winding up - unit redemption vs capital distribution and vesting.
Materials from this session:

Main residence exemption - practical issues

Author(s):  Katherine BROOK

People often assume that the main residence will be tax free. It may not be! There may be some nasty surprises. This practical presentation uses case studies to consider problems faced and planning opportunities when applying the main residence exemption, particularly:

  • subdividing the family home
  • selling adjacent land – the two hectare rule
  • deceased estates, including testamentary trusts
  • inherited dwellings
  • absence rules
  • running a business from home.
Materials from this session:

State taxes - An update

Author(s):  Simon TISHER

The implications of state taxes on property development should not be under estimated. There is little doubt that the new landholder model (which replaced the land rich provisions) is the recent “big ticket” development. Its effects are likely to be significant and far reaching. However, a number of other state tax developments are not well known and continue to simmer away - including the expansion of the “beneficial interest” provisions in the Duties Act and long term leases. This paper covers these developments and others in looking at what is making news with state taxation in Victoria.

Materials from this session:

Practical GST issues

Author(s):  Bastian Gasser

This practical paper reviews the following GST considerations that all practitioners need to be aware of when advising clients:

  • development & refurbishment of residential premises
  • development for mixed use (commercial & residential)
  • going concern and margin scheme rules
  • Implications of change in use (Div 129)
  • GST for joint ventures.
Materials from this session: