Presented by Rob Jeremiah, CTA, Sladen Legal
The proper characterisation for tax of proceeds from broad acre subdivision and sale is
critical. The ever increasing expansion of our cities and the resultant subdivision and sale
of land means the Australian Taxation Office is taking a greater interest in the treatment
by landowners of the proceeds of these sales for tax purposes. The pertinent questions
from the sale of subdivided land are based around whether the proceeds are on capital
or revenue account. Additionally, whether it is necessary to be registered for and to remit
GST. Issues to be discussed include:
- - Characterisation of proceeds of sale as revenue/capital
- - Purpose and change in purpose
- - Is a business established when land is subdivided
- - GST – enterprise v business, registration and margin scheme
- - The ATO’s view on the law.
The Tax Institute’s monthly Breakfast Club is especially tailored to keep you up-to-date on the latest developments in all areas of tax. Our update will bring you up to speed on the latest advances in cases, rulings and practice and is followed by our special topic which has been expressly designed by experienced tax professionals to help you best advise your SME’s and private client groups.
All sessions are scheduled to be held monthly (February–November), from 7.30am–9.00am, registration from 7.15am. Each session includes a monthly tax update and notes.
Dates for 2017
Friday 24 February
Friday 31 March
Friday 28 April
Friday 26 May
Friday 30 June
Friday 28 July
Friday 25 August
Friday 22 September
Friday 27 October
Friday 1 December