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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.
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
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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