Published on 01 Nov 12
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Structuring acquisitions, development, leasing and sale of real property provides continuing challenges and many opportunities for tax advisers. This paper explores the key issues confronting property owners, advisers and the courts, specifically:
- structuring: acquisitions for long term capital growth, development, and short term profits
- gains/losses on capital/revenue account – profit on sale or mere realisation
- property development vs property investment
- depreciating assets - undissected lump sum vs allocation to different assets
- GST – revisiting the margin scheme. Going concern for ‘leasing enterprises’.
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