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GST & Other Tax Issues in Property Development presentation
Published on 03 Jun 04 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Property Development has re-emerged as a significant commercial activity throughout Australia in recent years. The tax issues associated with this area are often challenging and require a good understanding of the interaction between ordinary income tax, CGT, GST and stamp duty.
Case studies in this presentation will deal with the following issues:
- subdividing and selling off part of a main residence (ie fulfilling the new Australian dream of converting the 1/4 acre block into quick cash)
- tax issues in demolishing a house and constructing new townhouses (becoming a one-off developer)
- speculative property development tax issues.
This was also presented on 11 March 2004 at the 38th South Australian State Convention at Sunset Cove and on 2 April 2004 at the 18th National Convention held in Melbourne.
Author profile
Lachlan Wolfers CTA
Lachlan Wolfers, CTA, is the Global Head of Indirect Taxes for KPMG, and also the Global Head of Data for KPMG Tax & Legal. He is also the National Leader of KPMG Law in Canada. He has over 25 years of experience advising multinational companies on indirect taxes, as well as tax transformation and technology. Lachlan is passionate about the role of indirect taxes in driving developments in the digitalization of the tax function. His recent publications, 'Transforming the in-house tax function through Technology', ‘The Future of Indirect Taxes to 2030‘, ‘The Future of VAT in a Digital World’ and ‘The Future of Generative AI in the Tax Profession’ all seek to provide insights on developments in areas like indirect taxes, how data is managed in the tax function and in the use of technologies to chart a course to the future. Lachlan has a strong sector focus on the digital economy and in the financial services sectors, and acts for many of the largest companies in these sectors, including for industry bodies. Lachlan also has considerable experience in the implementation of VAT/GST systems, having done so in Australia in the year 2000, and in China from 2012 to 2016. In 2020 Lachlan was awarded the Indirect Tax Advisor of the year for the Asia Pacific region by the International Tax Review. Lachlan has a long history of providing support and expertise to policymakers, finance ministries and tax authorities around the world, including in China, Australia and the UK, as well as the OECD. He is admitted as a Solicitor to the Supreme Court of NSW, and is called to the Bar by the Law Society of Ontario. Earlier in his career, Lachlan was the Associate to Justice Keith Mason, President of the NSW Court of Appeal. Lachlan has co-authored the leading textbook on capital gains tax in Australia (with Adjunct Professor Gordon Cooper AM), as well as authoring chapters for textbooks on income tax and GST. He was previously a National Director of the Taxation Institute of Australia. - Current at 19 September 2025
This was presented at 38TH SOUTH AUSTRALIAN STATE CONVENTION: A SPECTACLE OF TAX .
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Individual sessions
SMSF and Real Property
Author(s): Greg MAYMaterials from this session:
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Tax Issues in Property Development
Author(s): Lachlan R WOLFERSMaterials from this session:
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Tax Effective Products - Strategies Beyond the Obvious
Author(s): Cameron RHODESMaterials from this session:
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Financing your Business
Author(s): Brenton ELLERYMaterials from this session:
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Operating in a Consolidated World
Author(s): Sam HOWARD, Gary MARTINMaterials from this session:
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Trusts and CGT - The Hidden Dangers of the 'E' Events
Author(s): Andrew SINCLAIRMaterials from this session:
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Financing your Business - International Aspects
Author(s): Jim MCMILLAN, Tim SANDOWMaterials from this session:
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ETPs - Getting it right
Author(s): Glynn FLAHERTYMaterials from this session:
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Primary Production Income - When is it taxed?
Author(s): Trevor GILBERTMaterials from this session:
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Working with the Family Tax Benefit System
Author(s): Mark MOFFATTMaterials from this session:
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Depreciating Assets - Sales, write-offs and other issues
Author(s): Peter SIEBELSMaterials from this session:
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The New Section 109UB - The X Factor
Author(s): Scott BRYANTMaterials from this session:
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Partnerships - Easier than you think?
Author(s): Michael BUTLERMaterials from this session:
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GST Today
Author(s): David KUHNEMaterials from this session:
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ATO Audits and Activity
Author(s): Annette CHOOIMaterials from this session:
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