The property industry is undergoing constant change as does the taxation law and issues impacting property developers, owners and investors. In parallel the ATO is increasing its audit activity, with the property industry being a particular focus area - both from an income tax and GST perspective.
In that context this Property Intensive focussed on changes and new issues facing the property sector, including the ATO's approach, and highlighted how issues can impact developers and investors in practice.
The seminar addressed in detail some specific changes in GST which can have significant cash impact on certain property developments, covered the ATO's recent interpretation limiting access to depreciation deductions for certain type of property, and covered the broader issues involved in holding and financing property from a tax and legal perspective.