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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, cross-border investment, trusts, and estate and succession planning. Michael is a past chair of The Tax Institute’s South Australia State Council and a regular contributor to Institute events. - Current at 04 January 2018
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This was presented at Property Development and Subdivision: Income Tax, CGT and GST implications .

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