Published on 15 Feb 00
by VICTORIAN DIVISION, THE TAX INSTITUTE
A very detailed discussion on how different residential properties will be treated during the transition of GST and after GST has been implemented.The objective of this paper is to make sense of the legislative nonsense about how real estate transactions are treated under the GST regime. In addition to these fundamental design problems, there are a number of practical issues which will be confronted by real estate agents, auctioneers, valuers, vendors, purchasers and tax advisers in a GST environment. This paper will attempt to explain some of these complexities and hopefully explain how these problems may be overcome.
Lachlan is a tax partner at KPMG and a director of KPMG Tax Lawyers Pty Ltd. Lachlan is the leader of KPMG's indirect tax practice in Sydney, and in recent years, has developed an extensive tax litigation practice. Lachlan is a National Councillor of the Taxation Institute, and Chair of its Corporate Subcommittee and former Chair of its GST and Indirect Tax Subcommittee. Lachlan has written for a vast range of publications, including on the topics of CGT, GST and income tax, and is a regular media commentator on tax matters.
Current at January 2009
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