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  Miscellaneous 2004

GST & Other Tax Issues in Property Development

Source: South Australia

Published Date: 3 Jun 2004

 
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.

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Author(s)

Individual Session

Tax Issues in Property Development

Author(s): Lachlan R Wolfers CTA
Materials from this session:

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