Published on 28 Oct 06
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Many clients have made significant money dealing with real property in recent years. However, have they correctly dealt with all of the tax issues? These case studies cover the income tax, CGT, GST and stamp duty implications of property development & subdivision, including:
- mere realisation vs. carrying on a business - where do you draw the line?
- post-CGT improvements on pre-CGT land - what are the consequences?
- selling the main residence and/or building on the tennis court - what are the potential traps?
- joint ventures (including conversion to community and strata title) - what are the issues?
- applying the margin scheme - what are the implications of the recent amendments to the rules?
- understanding the decisions in Marana Holdings and Toyama v Landmark Building Developments (and the recent amendments) - what type of supply are you making?
Michael Butler FTIA is a Partner at Finlaysons' Tax & Revenue Group. Michael advises both domestic
and foreign clients on federal, international and state tax matters, and has a special interest in property tax
issues. Michael is the author of the book "Australian Federal Company Taxation" and a regular contributor to Taxation
Institute of Australia events.
Current at 23 March 2009
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