In-depth Tax Notes.
In this webinar recording, we look at these questions:
- If I am demolishing a house and building a new one for investment or sale, should I register for GST?
- How does the margin scheme work when you are building a new property?
- What happens if there is a subdivision and there is to be two newly constructed properties? One property is for private purposes and the other is to be sold.
- When is residential property "new residential property" for the purposes of the GST law?
- How does the "5 - year rule" work?
- What is commercial residential property?
- At what stage does a property development constitute an "enterprise".
- If I am constructing new residential property for sale, do I need to register for GST?
- Does the way I treat a property development for GST purposes have any implications for how the property is treated for income tax and CGT purposes?
- What happens if my client changes their intentions in relation to the property? For example what if they intended to sell a newly constructed property and then they decide to rent out the property?
- When is a renovation a "substantial renovation" such that new residential premises are created?
- My client is going to make input taxed supplies of residential rent over $75,000, should they register for GST?
- What is the ATO's thinking in relation to small scale property development and GST?
- and more...
Recorded on Friday, 8 May 2020.
Presented by TSA
1 CPD Hour