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.
Keith is a partner at Hall & Wilcox, and is a member of the Family Business & Wealth Management and Taxation practice groups. Keith is a key figure in the tax advisory profession. In March 2004 he was appointed to the Board of Taxation. His involvement has extended to Chairman of the Public Accountants Committee, Victorian President, National Councilor, Chairman of the Taxation Centre of Excellence and the National Tax Advisory Committee for CPA Australia. Keith was the accounting profession representative on the Commissioner of Taxation’s Advisory Panel, his National Liaison Committee and the Advisory Committee on the Taxpayers Charter. He was joint Chairman of the working party on the National Review of Standards of the Tax Profession and a member of the steering committee of the Pappas Carter Report reviewing the Australian Taxation Office’s large case audit program.
Current at 20 August 2007 Current at 29 August 2007
Click here to expand/collapse more articles by Keith JAMES.