Income tax issues in property development paper
Published on 31 Oct 07
by VICTORIAN DIVISION, THE TAX INSTITUTE
This paper includes:
- a review of the mere realisation vs one-off profit-making enterprise vs property development business trichotomy (including an easy to use checklist to guide you in advising clients)
- the interaction between income tax and CGT, including the trading stock provisions
- an overview of the income tax main residence exemptions as they relate to property development activities
- how to structure a property acquisition from an income tax perspective and the benefits and drawbacks of particular structures.