This on-demand session is available to watch instantly after purchase at the time of your choosing and will expire within 12 Months of purchase.
Date recorded: October 2023
For 2023 and beyond, the ATO has identified real property transactions, including acquisition, salee and leasing of the same, as an acute focus area for their cancel tax compliance activities as a result of receiving significant Government funding. To this end the ATO has launched recent data matching and information sharing initiatives with banks and other financial institutions as well as rental bond authorities which augurs for accentuated audit and review activities pertaining to real property.
Property developments and property investments usually involve a large amount of capital and the taxation issues associated with property can be immense. This seminar canvasses the key ATO focus areas for property related activities and addresses the fundamental concessions, tax planning, income tax, capital gains tax and GST consequences of such investments.
Topics Covered:
- Session 1: Property & Income Tax
Income tax risks and opportunities relevant to property investment, including specific allowable deductions relevant to property investment.
- Session 2: Property & Capital Gains Tax
CGT aspects of property investment, including coverage of relevant exemptions and concessions, including the application of the CGT withholding regime and potential use of the small business CGT concessions.
- Session 3: Property & GST
GST implications for real property investment, including the GST classification of real property transactions, application of the margin scheme, GST-free going concern concession and the new GST withholding measures.
Benefits and Learning Outcomes:
On completion of this seminar attendees will have a sound understanding of the income tax, CGT and GST treatment of property investments and the ATO’s current compliance focus areas pertaining to real property transactions.
Meet your Speaker; Peter Adams:
Peter has more than 25 years experience as a tax practitioner, having worked in senior tax management roles in the profession with both KPMG and PwC as well as in commerce. Recently Peter has focused on providing tax consulting and tax training services in the SME market.
