2017 VIC Property Day

Despite reports of an expected slowdown in the property sector, property development continues to grow strongly. New developments in the manner in which property developments are occurring and the taxation and regulatory responses to these developments ensure that this is an area characterised by constant change.

The ATO and SRO continue to show their close interest in this sector, monitoring the developments in the sector and ensuring revenue laws are applied correctly so that the revenue is not short changed.

Consequently, the need for advisers to remain up to date on the taxation of property and property development has never been greater, nor has it ever been more challenging.

This property intensive provides insights into the current considerations for advisers in this area, specifically dealing with:

-How the capital/revenue distinction applies to property developments, not always producing outcomes that you may expect
-Recent developments around Victorian State taxation
-Specific consideration of the developing area of hotels, serviced apartments and student accommodation
-The ATO’s approach to the application of the recent foreign investment rules
-Review of the recent changes to the SMSF rules as they affect property investment, including a review of the opportunities arising
-Developments around the application of goods and services tax to property transactions, particularly serviced apartments.