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Taxing Land Transactions: GST, ordinary income and/or capital gain seminar paper

Published on 27 Nov 03 by VICTORIAN DIVISION, THE TAX INSTITUTE

This seminar paper covers the following issues:
- when should proceeds from property sales be treated as income and when should they be treated as capital gains?
- can a property seller still distinguish between a 'mere realisation' of a capital asset versus a profit making scheme or a business operation?
- when does a property owner become a developer for tax purposes?
- does a one off property development constitute an 'enterprise' for GST purposes and when must GST be paid?

Author profile:

Keith HARVEY
Keith, a Principal of Ambry Legal, specialises in tax advice principally in GST and Consolidation. He has presented a number of seminars for the Tax Institute on GST and written several GST articles for Taxation in Australia.
Current at May 2008 Current at 07 May 2008 Click here to expand/collapse more articles by Keith HARVEY.
 

 

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