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Valuation of land: An adviser’s perspective paper


This paper covers:

  • duty on the shares or the land? Which would you prefer?
  • why is land-rich or landholder such an issue?
  • value of future cashflows
  • shares - what is being purchased?
  • value of shares
  • decomposing the asset base
  • non current assets
  • now we know where the value of the assets lies
  • (Net) working capital e: how do we determine the values?
  • unpacking the equation
  • goodwill: Murry and Alcan
  • tax and accounting treatments are often different
  • checklist for determining individual asset values
  • case study - hotel operator acquisition
  • mining companies
  • case study - mining exploration company acquisition.

Author profile

Michael Churchill ATI
Photo of author, Michael CHURCHILL Michael is an infrastructure specialist with over 20 years' experience in the sector. His early career saw him intimately involved in the commercialization programmes of domestic water businesses. More recently (as CEO of Value Adviser Associates) he has led multi-billion transaction advisory and valuation assignments for domestic and global investors (pensions, listed corporates, sovereign wealth funds and fund managers) in domestic and international assets including UK water businesses, Australian, European and Asian ports, US property businesses and Australian airports, toll roads, social, water and energy assets and renewable developments. He has been actively involved in the Infrastructure Sustainability Council of Australia, UN Principles for Responsible Investing, development of ESG valuation metrics for domestic fund managers and is a non-executive director of renewables developer, Climate Capital. - Current at 07 December 2016
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This was presented at Tenth Annual States’ Taxation Conference .

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Individual sessions

Tax and the Federation

Author(s):  Greg SMITH

Materials from this session:

Landholder/Land rich duty - Workshop

Author(s):  Andrew RIDER

Materials from this session:

Second Commissioner of Taxation address

Author(s):  Bruce QUIGLEY

Materials from this session:

Climate change hot topic


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