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Retirement villages - establishment and operational issues paper

Published on 07 Sep 05 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Topics covered in this paper include:

  • developer versus operator
  • new villages and receipt of initial funds from residents
  • capital versus revenue distinction - resident contracts
  • lease premium versus resident loan
  • deferred management fees, share of capital gain/(loss)
  • sinking fund and capital replacement fund issues - trust funds
  • tax planning and structure issues
  • sale of villages - capital gain or revenue
  • resident liabilities
  • transitional issues TR 2002/14 versus TR 94/24.

Author profile:

Brian Nimmo CTA
Brian Nimmo is a Director at Perks Chartered Accountants. Brian draws on his general business advisory experience, as well as his background in specialist taxation consulting, to provide clients with commercially focused strategic taxation advice. Current at 17 August 2016 Click here to expand/collapse more articles by Brian NIMMO.
 

This was presented at Tax Issues in Building and Operating Retirement Villages.

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