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August Morning Tax Club 2020 - The Capital v. Revenue Distinction & Small Property Developments

Tuesday, 4 August 2020 - 7:30 AM to
Tuesday, 4 August 2020 - 9:00 AM
Sydney, NSW Australia

Registration Time: 07:15:00 AM

Member Price: $60.00

Non Member Price: $70.00

CPD hours:1.50

August Morning Tax Club

The Tax Institute’s monthly Morning Tax 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 legislation, 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.

Session: 7.30am - 9.00am

Topic: The Capital v. Revenue Distinction & Small Property Developments

With the increase in property values and investment in property being seen as somewhat of a ‘safe haven’ from economic uncertainty, property developments are no longer the sole domain of the large developers; and fast becoming the domain of the ‘small’ or ‘family’ developer.

This session will focus on the key income tax issue confronting a small property developer: is my gain on capital or revenue account?

The session will firstly consider the key tax issues in property development conceptually, before looking at some practical examples. While it is impossible to define every scenario in which someone becomes a developer, this seminar will consider the following scenarios as case-studies:

1. My home becomes a development site
2. A developer approaches me to develop my land
3. I acquire some land to develop and either hold or sell
4. I acquire some land that I want to live on, hold or rent out – but am hopeful of obtaining development approvals and one day developing to sell (or hold)

Topic presenter: Sam Ayoubi, KPMG

Tax Update presenter: Amy Liu CTA, HWL Ebsworth Lawyers