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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 CTA
Michael is the Partner in charge of the Finlaysons Tax & Revenue Group. Michael advises domestic and foreign clients on federal, international and state tax matters, and has a special interest in mining and property taxation, corporate restructurings, international tax issues, and estate and succession planning. Michael is the Visiting Lecturer in Tax at the University of Adelaide Law School, and is a regular contributor to The Tax Institute events. Current at 19 March 2015 Click here to expand/collapse more articles by Michael BUTLER.
 

This was presented at GST - 6 Years On.

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