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GST and property paper

Published on 06 Feb 07 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper provides a practical overview of a number of GST issues that commonly arise with property developments and presents case studies dealing with:

  • change of intention - what happens if you change your mind and decide to rent, rather than sell, a development (or vice versa)? Or if you decide to rent after purchasing a 'going concern'?
  • margin scheme - what are the implications of the recent amendments to the rules?
  • residential property vs commercial property - understanding the recent Toyama case and the amendments introduced to reverse Marana Holdings: is a supply of property now subject to GST or input-taxed?
  • retirement villages - are you making input taxed supplies of residential premises, GST-free supplies of accommodation, and/or taxable supplies of additional services? When are maintenance fees input taxed? Dealing with supplies to serviced apartments and supplies by charitable institutions.

Author profile:

Michael BUTLER
Michael Butler FTIA is a Partner at Finlaysons' Tax & Revenue Group. Michael advises both domestic and foreign clients on federal, international and state tax matters, and has a special interest in property tax issues. Michael is the author of the book "Australian Federal Company Taxation" and a regular contributor to Taxation Institute of Australia events.
Current at 23 March 2009 Current at 15 April 2009 Click here to expand/collapse more articles by Michael BUTLER.
 

 

This was presented at GST - 6 Years On .

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