The property industry undergoes 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.
This seminar focused on changes and new issues facing the property sector, including the ATOs approach, and highlighted how issues can impact developers and investors in practice.
The seminar addressed in detail some specific changes in GST which may have significant cash impact on certain property developments. It covered the ATOs recent interpretation limiting access to depreciation deductions for certain type of property. And also the broader issues and alternatives in holding and financing property from a tax and legal perspective.