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: November 2024
For many people, their family home represents their most valuable asset. In this regard, the Australian taxation framework encompasses various aspects that cover dealings and transactions relevant to a person’s family home.
This seminar will cover tips, traps, pitfalls, and planning strategies regarding the potential application of income tax, capital gains tax, GST, and fringe benefits tax to the acquisition and/or sale of a family home.
Topics Covered
- Potential income tax, CGT and GST implications on the sale of the family home in instances of subdivision, development and sale of existing properties
- Requirements for excess, mechanics and effective utilisation of the CGT main residence exemption
- Specific application of the prevailing CGT rules for non-resident owners of residential housing in Australia
- Scope and effect of the current GST regime to the purchase and sale of residential property in Australia, including the recently introduced GST withholding measures
- The income tax, CGT and GST effect of death on the family home
- Key FBT and state tax implications on the purchase and sale of the family home
Benefits and Learning Outcomes
Attendees will gain a comprehensive understanding of the key tax issues and planning strategies relevant to the buying and selling of the family home.
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.
