Indirect taxes paper

Published on 29 Aug 13 by NATIONAL DIVISION, THE TAX INSTITUTE

Indirect taxes, such as duty, GST and land tax, are often neglected when it comes to consideration of tax issues affecting superannuation funds.However, the indirect tax obligations, and potential exemptions and concessions that apply to superannuation funds are often vital parts of any review of potential tax considerations, particularly in relation to transfer of assets to and from a fund.

This paper covers:

• a review of the application of duty for direct transfers of real estate to and from a superannuation fund in each state and territory
• an update and review of the application of duty for indirect transfers of real estate ie interests in landholder/land-rich entities to and from a superannuation fund in each state and territory
• an overview of other concessions available to superannuation funds such as change of trustees, set-up of funds etc
• a brief update in relation to the application of the GST regime to transfers of real estate to and from a superannuation fund
• the application of superannuation related land tax concessions in each state and territory.

Author profiles

Zoe Chung CTA

Zoe is a Special Counsel in Arnold Bloch Leibler’s taxation group. Zoe’s core expertise is in state taxation law across all Australian states and territories, providing all types of assistance from pre-transaction advice, lodgement, negotiation and dispute resolution. Zoe has more than 18 years’ experience providing state taxation advisory, Revenue Authority liaison and M&A services to clients in a wide range of industries and clients, including private families, superannuation & funds management, property (development, leasing and retail), mining & infrastructure and retail & consumer. Prior to re-joining ABL in 2018, Zoe was a Partner at “Big Four”, specialising in state taxation in all Australian jurisdictions with a focus on stamp duty. Zoe has a keen interest in diversity and inclusion and social justice issues. She has undertaken pro bono work for a number of not-for-profit organisations and has also participated in formulating cultural and gender diversity agendas. - Current at 04 August 2020

More by Zoe CHUNG

• State taxes and COVID-19 emergency measures for property (VIC) paper - 21-September-2020
• A whole new world of state taxes paper - 26-October-2016
• State Revenue Office compliance themes and “hot spots” for superannuation funds paper - 21-August-2015
• Victorian landholder model paper - 21-June-2012
• Stamp duty update paper - 06-October-2011
• New land tax and stamp duty issues and planning techniques paper - 06-October-2006
• Property - indirect taxes and GST paper - 07-October-2005
• The New Victorian Land Rich Provisions seminar paper - 19-August-2004
• Land tax issues impacting property seminar paper - 24-June-2003

Click here to expand/collapse more articles by Zoe CHUNG.

Rachel O'Donnell CTA

Rachel is a Senior Manager at PwC. - Current at 02 October 2013

More by Rachel O'Donnell

• Victorian state taxes and trusts paper - 28-November-2019
• A whole new world of state taxes paper - 26-October-2016

Click here to expand/collapse more articles by Rachel O'Donnell.