< Back

GST & Property Web Series 2023 Session 1

Recorded 21 November 2023. The fundamental issues that need to be addressed as early as possible when clients are involved in property development projects.

GST for property developers - from fundamentals to advanced topics
Minimise risk - get the tax treatment right from the start
Common problem areas and practical solutions

Recorded 21 November 2023

If you have clients involved in property development projects or transactions, there are a range of GST issues that need to be considered - and often, the earlier the better. If you don't, the overall profitability of the project could be very different to what the client is expecting.

The two-part GST & Property web series helps you identify the key GST issues, the process for working through these issues and the steps that need to be taken to effectively utilise the concessions that are available under the GST system.

Total 1.25 CPD Hours

Session 1

w Karen Vella

The fundamental issues that need to be addressed as early as possible when clients are involved in property development projects. These are the issues that MUST be dealt with to confirm the correct GST treatment of projects.

When it comes to dealing with clients in practice, it's important to work through these key issues as early as possible as the tax implications could have a significant impact on the profitability of the client’s project and may impact on the way the project is structured.

We look at:

The key factors that the ATO and courts will consider when trying to determine the way in which property transactions should be taxed
Identifying whether property development projects would be treated as an enterprise for GST purposes and whether GST registration is necessary
The treatment of expenses incurred throughout the project
Whether GST applies to the sale of renovated residential properties
The key factors in determining whether a property is classified as commercial residential property
How to determine whether rent generated through sharing economy platforms triggers GST
Applying the 5 year leasing rule in practice

Karen Vella

Tax Training Team Leader, TaxBanter

Karen has over 25 years experience in the tax profession, first as a practitioner and more recently as an educator. She trained with the Big Four and initiated her own successful small practice before moving to Hayes Knight as a Partner.

Prior to joining TaxBanter, she spent many years as a trainer and technical writer for Webb Martin Training, and then most recently TaxBytes. She is also a regular presenter and consultant for Knowledge Shop.

Karen loves to talk tax. She has provided tax training to clients ranging from the Australian Taxation Office to accounting firms, both large and small. Her specialty is translating complex content into something meaningful, engaging and practical for her clients, no matter their level of experience.