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Property & Indirect Taxes

Published on 19 Apr 2005 | Took place at Leonda by the Yarra, Hawthorn, VIC

Property investors riding the cycle of the property market can make significant profits but also have significant tax issues. The growth and popularity of property for investors and clients has created greater challenges to advisers at a time when both the ATO and State Revenue Office step up their focus on property.

These seminar materials will provide you with a timely update on the key areas of stamp duty and land tax as applicable to property transactions, as well as review the key GST issues that still cause confusion when dealing with property.

Get a 20% discount when you buy all the items from this event.

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Individual sessions

Recent developments in land tax and stamp duty

Author(s):  Leanne HUGHSON

Land tax issues covered in this paper include:

  • grouping of trusts and companies - a review of Arjon Pty Ltd v CSR & CSR v Karingal 2 Holdings Pty Ltd (currently on appeal to the High Court)
  • the primary production land exemption - a look at the recent case of Harper v CSR (VCAT 2005).

Stamp duty issues covered in this paper include:

  • the controversy surrounding the application of the exemption for changes in trustees who hold land - consideration of recent cases including Challenger Property Nominees V CSR (2004) currently on appeal to the Supreme Court, Tearle Pty Ltd v CSR (2004), Kringas v CSR (2005)
  • recent and proposed rulings
  • recent cases.
Materials from this session:

Recent developments in the GST treatment of property

Author(s):  Robert PARKER

Issues covered in this paper include:

  • enterprise issues concerning property development including small scale developments and sale of vacant land (MT 2004/D3)
  • classification issues of property development structures (GSTR 2004/6: tax partnerships & co-owners)
  • alterations to non-reviewable leases transition rules (Tax Laws Amendment (Long-Term Non-Reviewable Contracts) Act 2005)
  • alterations to GST on property transactions including the margin scheme, GST groups and joint venture groups (Rulings GSTR 2004/2, GSTR 2004/3 and Taxation Laws Amendment (2005 Measures No 2) Bill)
  • application of GST to commercial residential dwellings including serviced apartments and holiday accommodation (Marana Holdings Pty Ltd v FCT 2004 ATC 4,256)
  • change in use of property and Division 129 adjustments.
Materials from this session: