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Property development and subdivision: income tax, CGT and GST implications paper

Published on 14 Feb 06 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Topics covered in this paper include:

  • income tax
    • business or mere realization?
    • pre CGT and post CGT land
    • valuation and calculation
    • recognising profit
  • capital gains tax
    • subdividing vs partitioning
    • converting to community/strata title
    • improvements to pre-CGT land
    • CGT discount
    • main residence exemption
    • deceased estates
  • GST
    • does your client need to register for GST?
    • meaning of 'enterprise' and requirements for ABN
    • treatment of new vs existing residential premises, commercial residential premises and non-residential premises
    • change of purpose
    • partnerships and joint ventures
  • distressed sales.

Author profile:

Michael Butler CTA
Michael is the Partner in charge of the Finlaysons Tax & Revenue Group. Michael advises domestic and foreign clients on federal, international and state tax matters, and has a special interest in mining and property taxation, corporate restructurings, international tax issues, and estate and succession planning. Michael is the Visiting Lecturer in Tax at the University of Adelaide Law School, and is a regular contributor to The Tax Institute events. Current at 19 March 2015 Click here to expand/collapse more articles by Michael BUTLER.
 

This was presented at Property Development and Subdivision: Income Tax, CGT and GST implications.

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