Published on 28 Oct 06
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Many clients have made significant money dealing with real property in recent years. However, have they correctly dealt with all of the tax issues? These case studies cover the income tax, CGT, GST and stamp duty implications of property development & subdivision, including:
- mere realisation vs. carrying on a business - where do you draw the line?
- post-CGT improvements on pre-CGT land - what are the consequences?
- selling the main residence and/or building on the tennis court - what are the potential traps?
- joint ventures (including conversion to community and strata title) - what are the issues?
- applying the margin scheme - what are the implications of the recent amendments to the rules?
- understanding the decisions in Marana Holdings and Toyama v Landmark Building Developments (and the recent amendments) - what type of supply are you making?
Michael is the Partner in charge of the Finlaysons Tax & Revenue Group. Michael advises domestic and foreign clients on federal, international and state tax matters, and has a special interest in corporate restructurings, cross-border investment, property, wine and mining taxation, trusts, and estate and succession planning. Michael is a past chair of The Tax Institute’s South Australia State Council and a regular contributor to Institute events.
- Current at
22 September 2021