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Property development and subdivision: income tax, CGT and GST implications paper

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DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 14 Feb 06 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Topics covered in this paper include:

  • income tax
    • business or mere realization?
    • pre CGT and post CGT land
    • valuation and calculation
    • recognising profit
  • capital gains tax
    • subdividing vs partitioning
    • converting to community/strata title
    • improvements to pre-CGT land
    • CGT discount
    • main residence exemption
    • deceased estates
  • GST
    • does your client need to register for GST?
    • meaning of 'enterprise' and requirements for ABN
    • treatment of new vs existing residential premises, commercial residential premises and non-residential premises
    • change of purpose
    • partnerships and joint ventures
  • distressed sales.

Author profile

Michael Butler CTA-Life
Michael Butler, CTA, 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. Michael was made an Honorary Life Member of The Tax Institute in 2024. - Current at 13 May 2025
Click here to expand/collapse more articles by Michael BUTLER.

 

This was presented at Property Development and Subdivision: Income Tax, CGT and GST implications .

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Individual sessions

Property development and subdivision: income tax, CGT and GST implications

Author(s):  Michael BUTLER

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Recent developments in GST treatment of property transactions

Author(s):  Anetta CURKOWICZ

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