Property: from Whitfords Beach to Abbey Beach paper

Published on 10 Aug 07 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

The current property boom shows no signs of abating. Planning can provide opportunities and minimizse the tax burden which is almost inevitable in the current market. Bad planning will leave you exposed to unwanted and unwarranted liabilities. The ATO is looking and has collected a considerable data base from which they are planning targeted compliance action. This paper looks at:

• what are the choices when looking at a suitable vehicle for acquiring property?
• what are the better ways to structure finance?
• timing, not how to pick the market but the consequences of the timing of acquisitions and sales
• where are the common mistakes in determining the taxable profit from property sales?
• don’t forget the GST, how to deal with issues such as the margin scheme, going concern and other concessions available in the GST provisions
• what does the ATO have to say about property, how have the courts looked at the issues in recent years and where will the ATO come looking?

Author profile

Syd Jenkins

Syd is a Taxation Consultant with Moore Stephens Perth. He joined the firm in 1987 after fifteen years with the Australian Taxation Office. Since joining Moore Stephens, Syd has overseen the taxation advice provided by the Firm, and managed the taxation compliance function. He advises on both Federal and State revenue matters. The advice has extended from international structuring to personal wealth creation techniques. Syd consults to both the clients of Moore Stephens and is often asked to provide advice to other accounting and legal firms. In addition to consulting Syd provides advice as an expert witness in tax related litigation. Syd has lectured at various Universities in undergraduate and postgraduate taxation law, and tutored at Curtin University in postgraduate taxation law. - Current at 09 September 2015

More by Syd JENKINS

• Exit strategies paper - 30-July-2015
• Trusts: Are they still worth it in the current tax climate? paper - 22-August-2013
• Current and emerging tax issues for not for profit organisations paper - 10-February-2012
• Member profile: Syd Jenkins - 01-June-2011
• When worlds collide: Accounting for and taxing trust income paper - 02-March-2011
• Property intensive: The accountant’s view paper - 29-October-2009
• Bamford’s case and beyond paper - 30-September-2009
• Trusts: who do you trust when you are blindfolded paper? - 14-August-2009
• Property: the accountant's view paper - 30-October-2007
• Loans and Division 7A - don't be caught out paper - 07-September-2006
• At call loans - what you must know paper - 17-August-2005

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