Property features in the majority of our clients' affairs, whether it’s commercial premises, developments for sale, or family homes. It’s the kind of asset that brings attention from all the main taxes – income tax, capital gains tax (CGT), GST and transfer duty. This is not just when property is purchased or sold, but along the entire ownership journey.
There have been several changes to the tax law in recent years regarding property. The key is awareness so you can make informed decisions while looking ahead.
This important session is relevant for anyone with any interest in property – business, commercial or private.
Delivered by Nexia Australia's National Tax Director, David Montani. David has over 30 years’ experience in taxation and business advisory, with his expertise and practical approach having made him an in-demand advisor for many significant transactions and complex tax matters.
This session will covered the following:
- Family home fully subject to CGT if you move overseas – tax-exempt status erased overnight;
- Deductions denied for “vacant” land – which can include land with houses/units on it;
- Depreciation and travel deductions denied for residential properties;
- When gains on property fully taxed (profit) versus possibly partially taxed (capital gain);
- Reduced GST exposure under the “margin scheme” – provided you do what the law requires you to;
- Moving your business premises into the low-tax superannuation environment;
- Build for sale, but then rent out – income tax, CGT and GST consequences; and
- Stamp duty and land tax surcharges for some foreign purchasers/owners might be constitutionally invalid.
