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100207
Individual Podcasts

GST Issues to Consider When Transacting in Property

There is much to consider when determining how GST can apply to various property transactions. This session provides a deep dive into the more challenging property related scenarios where GST may require consideration, including: When are residential premises considered to be “

Date/Time

About the Podcast

There is much to consider when determining how GST can apply to various property transactions. This session provides a deep dive into the more challenging property related scenarios where GST may require consideration, including:

  • When are residential premises considered to be “new” as a result of renovations? (GSTR 2003/3)
  • Can property satisfy the GST-free “supply of a going concern” criteria? (GSTR 2002/5)
  • What GST adjustments are required when a property’s intended use changes from developing for sale to deriving rent?
  • Selling farmland:
    • When can the sale be GST-free?
    • GST and the sale of subdivided farmland
    • When can GST adjustments be required subsequent to purchasing GST-free?
  • The GST withholding rules for supplies of new residential premises or potential residential land

Presented By

Jeff Pfaff
Partner, PwC Brisbane, Qld

Jeff is a Partner in PwC's Financial Advisory Group and leads the firm’s Indirect Tax Practice in Brisbane.

He has specialised in indirect taxes since 1999 and advises on the entire spectrum of managing its commercial, technical and administrative challenges. His client list ranges from small businesses to some of Australia’s largest public and private companies.

Prior to joining PwC, he was employed by the Australian Taxation Office (ATO) as a Senior Director. During his time at the ATO, Jeff had various responsibilities at a national level for the strategic management of technical and compliance issues. In particular, these issues included managing compliance risks in the property sector and the application of the general anti-avoidance rules. He also led some of the Commissioner’s largest and most complex audits.

CPD Information

0.4 CPD hours

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