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ATO’s changing view on division 129 presentation

Published on 23 Mar 09 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The ATO view of how property transactions should be treated for GST purposes has continued to change significantly over the past year. This has been driven by the Commissioner's own rulings program and a number of significant court cases that have been decided.

This presentation covers the new draft ruling GSTR 2008/D5 which discusses the ATO's view of the treatment of new residential premises when their proposed use changes from sale to rental. Given the current downturn, does this provide a developer with an opportunity to claim additional credits for past transactions or will the ATO's view create additional compliance issues that will need to be carefully managed? This presentation also covers the decisions in recent court cases and discuss what this will mean in practice for property developers.

Author profile:

Matthew NICHOLLS
Matthew Nicholls FTIA, is a Senior Manager at Ernst & Young. Matthew is a GST specialist who joined Ernst & Young in 2005 as a Senior Manager. Formerly employed by the ATO for over 14 years, he has extensive experience in providing advice on technical and procedural issues from both sides of the fence. Matthew specialises in evaluating and minimising GST risks for client's while maximising GST opportunities. Matthew has provided services to clients across many industries including property.
Current at 23 March 2009
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This was presented at SA Property Intensive .

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