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Retirement villages - income tax and CGT issues 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 27 Jul 06 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

Topics covered in this paper include:

  • developer versus operator
  • capital versus revenue distinctions - resident contracts
  • lease premium versus resident loan
  • income tax treatments of deferred management fees, sharing of capital gain/(loss) with residents
  • sinking fund and capital replacement fund issues - trust funds
  • tax planning and structure issues
  • sale of villages - capital gain or revenue
  • transitional issues TR 2002/14 versus TR 94/24.
This paper was also updated and presented at the 'Retirement Villages: Understanding the tax implications' seminar held in Brisbane on 25 October 2006.

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Mark WEST
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This was presented at Retirement Villages: Understanding the tax implications .

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Retirement villages - income tax and CGT issues

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