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?
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
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