GST and Real Estate
Mistakes made in relation to the treatment of GST on real estate transactions are by nature very expensive (and with the inherent complexity surrounding these dealings), all too common.
Many of the recent Court decisions about GST have involved disputes in relation to real property transactions. With numerous changes and a number of recent rulings it is definitely time to re-evaluate how you treat real property sales, purchases and lease arrangements.
Tony van der Westhuysen provides a comprehensive review of the basic concepts of the GST as they relate to real estate transactions, highlighting the different types of supplies and acquisitions. Specific areas covered include:
• The so-called “caravan park elections”
• “Going concerns” in relation to real estate - What happens when the real estate and the business are split?
• Standard land contracts and lease agreements as “tax invoices”
• Treatment of compulsory acquisitions and the Hornsby Shire Council case
• Mortgagee sales – does GST apply?
• Mixed and composite supplies – what happens when you change your mind about selling new residential premises?
• Advising non-resident property owners
• “Peppercorn” rentals – are you paying the correct amount of GST
• Retentions – when is the GST payable?
• Treatment of security deposits following the Reliance Carpet Company case – do forfeited deposits on residential premises attract GST?
• Barter transactions – are you paying the correct amount of GST?
• The margin scheme – when to use it
• New developments in the treatment of new residential premises, new residential premises and commercial residential premises
"Tony is the consummate professional. Great material with good and relevant practical examples."
All delegates automatically receive a link to a Recording of the session.
Bookings close on the day prior to the session.
Date/Time: Tuesday 11 December 2018, from 1pm to 3pm AEDT
CPD Hours: 2.0
Target Audience: This program is primarily aimed at BAS Agents, but is also useful for people new to GST.
NON Members $200
All prices include GST