Published on 14 Jun 06
by VICTORIAN DIVISION, THE TAX INSTITUTE
This paper covers the following:
- GST classification of retirement village and nursing home supplies to residents
- entitlement to input tax credits during construction of retirement villages and nursing homes
- adjustment of input tax credit claims on change of use or on sale
- watch-out - acquisition of retirement village or nursing home as a GST-free supply of a going concern - Division 135 increasing adjustment
- watch-outs - retirement village and nursing home structures leading to inequitable GST results.
This paper was also presented by Heath Shonhan at the 'Retirement Villages: Understanding the tax implications' seminar held in Brisbane on 25 October 2006.
Current at 29 June 2009
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