Property development and subdivision case studies

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?

Author profile

Michael Butler CTA

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

More by Michael BUTLER

• The increasing use and threat of section 100A - 01-October-2020
• Trusts: Vesting, ruling from the grave, splitting, cloning, umbrella and master trusts, and more! paper - 08-November-2018
• Extreme tax structures for property developers paper - 30-July-2018
• Plenary 2: Trusts - vesting, ruling from the grave, splitting, cloning, umbrella & master trusts & more! paper - 16-November-2017
• Vesting trust deeds & extending vesting dates paper - 05-May-2016
• Vesting trust deeds paper - 18-March-2015
• Difficult practical property tax issues or 25 things I hate about property tax! paper - 26-March-2014
• Difficult practical property tax issues or 25 things I hate about property tax! paper - 21-February-2014
• State tax reform: State taxes reform: A practitioner’s viewpoint - 01-April-2013
• Future of trusts – The Division 6 facelift and other new developments paper - 03-May-2012
• Sale of property assets – Achieving a completely legal CGT wipe-out paper - 03-February-2012
• Property structures paper - 02-March-2011
• Total tax wipe-out: Contentious deductions paper - 28-October-2010
• Trusts – Extending the vesting date - 01-September-2010
• Trusts - Extending the vesting date paper - 19-August-2010
• Keeping modern trusts relevant: Getting trust distributions right after Bamford and Cajkusic paper - 17-August-2010
• Tax and goodwill: Practical issues paper - 06-May-2010
• Voluntary liquidation - Getting the money & assets out of a company paper - 27-August-2009
• Protecting discretionary trusts following Richstar, Cummins and Spry paper - 04-August-2009
• Property & Division 152 CGT reliefs paper - 23-March-2009
• Getting trust distributions right after Cajkusic paper - 25-September-2008
• Avoiding the vesting day: Trusts domiciled in South Australia paper - 25-September-2008
• Extreme tax structures for property developers paper - 19-February-2008
• Holding land through trusts paper - 03-May-2007
• GST and property paper - 06-February-2007
• Property development and subdivision: income tax, CGT and GST implications paper - 14-February-2006
• Tax and copyright seminar paper - 18-February-2005
• Partnerships - Easier than you think? convention paper - 13-March-2004
• Contentious Deductions Case Studies - 17-October-2003
• The Commissioner's big black dog 10 years on - practical update on Part IVA - 15-August-2001
• In practice: Franchise fixings: Part 2 - Goodwill and compliance - 01-February-1997
• Franchise fixings: Part 1: structures and fees - 01-December-1996
• Franchising - Jim, Wendy and the Commissioner - 28-March-1996

Click here to expand/collapse more articles by Michael BUTLER.