Whilst the income tax, including the capital gains tax, treatment is often front of mind, when it comes to small-scale property developments, the GST treatment should definitely not be overlooked. This session explores how GST can impact on such projects, including:
A review of recent ATO guidance and views (QC 71028 & “Examples of tax consequences on sales of land including small-scale land subdivision”)
The importance of distinguishing between commercial intent and private family arrangements (Lance V C of T (Taxation) [2024] AATA 11)
The GST issues to consider for a property purchase, renovation and then sale
GST issues to consider for two friends acquiring an old house on a large site with:
original intention of demolishing and building four townhouses, and
an original intention of each owning one townhouse to live in and one to rent out (GSTR 2009/2), and
subsequent cash flow difficulties arising that require each to sell their rented townhouse within five years of completion
How do property sale proceeds impact on the GST turnover test when determining if GST registration is required? (Sec. 188-25 GST Act 1999; Collins and Anor ATF The Collins Retirement Fund v FC of T [2022] ATC 10-627)
Can the margin scheme be useful for small- scale developments?
Practical examples (MT2006/1)
Who should watch
Tax advisors, financial planners, tax agents, accountants, lawyers and those advising on property tax.
Level of expertise
This webinar is for persons with some knowledge or interest in taxation legislation for property.
COST: $99.00
If you register more than one attendee, discounts apply:
2 attendees - $190 (normally $198, saving $8)
3 Attendees - $275 (normally $297, saving $22)
4 attendees - $355 (normally $396, saving $41)
5 attendees - $400 (normally $495, saving $95)
6 attendees - $480 (normally $594, saving $114)
7 attendees - $550 (normally $693, saving $143)
8 attendees - $610 (normally $792, saving $182)
9 attendees - $680 (normally $891, saving $211)
10 attendees - $730 (normally $990, save $260)
Once you have registered you will be sent a receipt and then soon after a personalised link to access this webinar via zoom.
You can register up to 10 individual attendees, each person will be sent a personalised link to join. You will be unable to share your link to the live webinar. The event will be recorded and emailed to all registered attendees the day after the event.
Presenter
Neil Brydges, Principal
Neil is a Principal in the business law area, with a particular focus on taxation advice and disputes.
Taxation law is a complex area. Neil’s aim is to provide technical expertise to clients, commercially applied and in a friendly and approachable manner.
Neil’s practice involves advice, audits, disputes, and transactions. The client mix includes both family groups and business enterprises. Neil also regularly assists professional advisors, including tax agents, accountants, and financial advisors, to understand complex legal issues and help them to better assist their own clients.
View Neil’s full profile here