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Practical CGT problems in developing residential property paper

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Published on 06 May 06 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The family home is often the most valuable asset owned by an individual and in rising real property markets securing the CGT main residence exemption is critical. Further, residential land holdings often give rise to subdivision and development opportunities particularly in growth regions. Gordon has significant practical experience in this area and will expose the problem tax issues which may arise in practice. This paper focusses on:

  • securing main residence exemption
  • does Janmor Nominees have contemporary relevance?
  • strategies for main residence subdivisions/developments and for land holdings exceeding 2 hectares
  • accessing CGT concessions
  • when does residential land become trading stock/a revenue asset?
  • when does a residential land owner become a property developer?

Author profile

Prof Gordon Cooper
Gordon was a Chartered Accountant in sole practice at Cooper & Co. He was an Adjunct Professor in the School of Taxation and Business Law (incorporating the Australian School of Taxation) at the University of New South Wales. In June 2003, he was awarded an AM in the Queen’s birthday honours for “Services to the tax profession and to the community as an adviser on national taxation and legislative reform, and through education and professional organisations”. Together with Chris Evans and Kirk Wilson, he was an author of the Australian CGT Handbook. - Current at 27 June 2017
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