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Recent developments in GST and property presentation

Published on 19 Apr 05 by VICTORIAN DIVISION, THE TAX INSTITUTE

Issues covered in this presentation include:

  • enterprise issues concerning property development including small scale developments and sale of vacant land (MT 2004/D3)
  • classification issues of property development structures (GSTR 2004/6: tax partnerships & co-owners)
  • alterations to non-reviewable leases transition rules (Tax Laws Amendment (Long-Term Non-Reviewable Contracts) Act 2005)
  • alterations to GST on property transactions including the margin scheme, GST groups and joint venture groups (Rulings GSTR 2004/2, GSTR 2004/3 and Taxation Laws Amendment (2005 Measures No 2) Bill)
  • application of GST to commercial residential dwellings including serviced apartments and holiday accommodation (Marana Holdings Pty Ltd v FCT 2004 ATC 4,256)
  • change in use of property and Division 129 adjustments.

Author profile:

Robert PARKER
Rob is a Director in KPMG’s indirect tax group in Melbourne, specialising in stamp duties, GST and land taxes. Rob commenced practice as a lawyer in 1989 and worked for 14 years in leading Australian law firms and as in house counsel at a major Australian bank, before joining KPMG in 2004. Rob has provided stamp duty advice on all types of commercial transactions, including mergers and acquisitions, takeovers, corporate reconstructions, business acquisitions and structured financing transactions, as well as managing state revenue audits and reviews on behalf of clients.
Current at October 2006
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This was presented at Property & Indirect Taxes.

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