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Retirement Villages and Nursing Homes - income tax issues paper

Published on 14 Jun 06 by VICTORIAN DIVISION, THE TAX INSTITUTE

This paper covers the following topics:

  • types, treatment and the ATO's views on resident contracts
  • treatment of deferred management fees
  • capital versus revenue distinction and the importance of the characterisation
  • transitional issues arising from ATO Taxation Ruling 2002/14 compared to Taxation Ruling TR94/24
  • the practical impacts and difficulties of tax consolidation in the industry
  • taxation implications arising from IFRS and the proposed Taxation of Financial Arrangements Bill applying to the industry.

Author profile:

Matt Birrell
Matt is a Partner in KPMG's Corporate Tax Division and has 20 years' experience in advising on funding, structuring and operating property and infrastructure transactions. Matt has advised both governments and taxpayers on some of Australia's largest recent privatisation and infrastructure transactions including social infrastructure such as hospitals, schools courthouses, stadiums, water treatment plants as well as assets like roads, tunnels, ports and railways. Current at 03 July 2014 Click here to expand/collapse more articles by Matt BIRRELL.
 

This was presented at Unravelling Structuring and Taxation Mysteries of Retirement Villages and Nursing Homes.

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