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Retirement villages - income tax and CGT issues paper

Published on 27 Jul 06 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

Topics covered in this paper include:

  • developer versus operator
  • capital versus revenue distinctions - resident contracts
  • lease premium versus resident loan
  • income tax treatments of deferred management fees, sharing of capital gain/(loss) with residents
  • sinking fund and capital replacement fund issues - trust funds
  • tax planning and structure issues
  • sale of villages - capital gain or revenue
  • transitional issues TR 2002/14 versus TR 94/24.
This paper was also updated and presented at the 'Retirement Villages: Understanding the tax implications' seminar held in Brisbane on 25 October 2006.

Author profile

Mark West CTA
Photo of author, Mark WEST Mark is a qualified as a lawyer, chartered accountant and chartered tax adviser, Mark provides advice across the spectrum of taxes. Mark assists with all legal matters involving taxation law. He advises on appropriate business or investment structures/restructures and on making applications for rulings from the ATO. He assists with tax audits and with related settlement negotiations with the ATO and State revenue authorities. He has acted for clients in tax cases before the Administrative Appeals Tribunal and the Full Federal Court. Mark been listed as a leading tax lawyer in Queensland by Doyles Guide and The Best Lawyers™ in Australia. - Current at 15 March 2021
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This was presented at Retirement Villages: Understanding the tax implications .

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