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Toowoomba Young Tax Professionals - Building contractors

Wednesday, 21 August 2019 - 7:15 AM to
Wednesday, 21 August 2019 - 8:45 AM
University of Southern Queensland: Room Q402, West Street, Toowoomba, QLD Australia
Event Coordinator: carlielemon@taxinstitute.com.au
     

Registration Time: 07:00:00 AM

Member Price: $60.00

Non Member Price: $65.00

CPD hours:1.50

The value of building contracts managed by building contractors can be significant and there are some tax issues that regularly arise for the building and construction industry. This topic aims to cover some of those issues including:

  • The timing of recognition of income and expenses associated with long-term construction contracts in accordance with TR 2018/3 (formerly IT 2450), including use of:
    • The basic approach; and
    • The estimated profits approach.
  • The timing of revenue recognition for Property Developers, including receipts through Project Development Agreements.
  • Exploring some of the issues raised in the ATO’s Draft Property and Construction Website Guidance, as they relate to builders and developers.

Presented by Sarah Webb, CTA, FKG Group

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