About the webinar
This session looks at the GST issues facing property development projects involving serviced apartments. It also considers the GST implications for property developers that decide to rent out apartments that were originally built for sale. At the same time, the method by which investors with apartment portfolios rent out their investments has GST consequences. The ATO is hot on the heels of both issues so you should ensure you know the nitty gritty. This session covers:
- How to structure a serviced apartment development for GST - the lessons from the South Steyne Litigation, Commissioner of Taxation v MBI Properties Pty Ltd and Paul J Castan & Son Pty Ltd ATF Castan Investments Unit Trust v Commissioner of Taxation
- How to ensure the input tax credits from the construction of serviced apartments can be claimed
- Lease of the entire lot v each individual apartment – how does that affect the type of supply made?
- Can serviced apartments be sold to investors as a going concern?
- Change of creditable purpose – how Division 129 works
- Specific rules for property developments – the ATO ruling
- Keeping apartments for rent but minimising the clawback – how to use the ruling to best advantage
- A supply of residential accommodation? When will serviced apartments be residential and when will they be commercial residential premises?
- Intention to make a taxable supply – when and why is it relevant? Understanding the relevance of intention and the evidence needed
- Calculating adjustments
Who should attend
This webinar is suitable for accountants and lawyers advising on GST – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.
Kelvin Ng, Senior Associate, Clayton Utz, Sydney
Kelvin is a Senior Associate in the tax group at Clayton Utz, specialising in indirect taxes. He advises clients on a wide variety of tax matters, including GST, state taxes (payroll tax, land tax), Customs and tax controversy.
Kelvin works closely with all practice groups at Clayton Utz, and is experienced in advising clients across a diverse range of industries and on the full spectrum of corporate activity.