GST Traps in Property Transactions - a Power Pair of recorded webinars

This Power Pair comprises 2 of our most popular GST & Property webinars from the past year.  Each recorded webinar is one hour in length.

Webinar 1: Building to Rent and Not to Sell: The GST Implications

The build-to-rent (BTR) model is gaining traction as an emerging asset class. The GST implications for this model are vastly different to those of a build-to-sell (BTS). This session explores the GST treatment of the BTR property development model, including:

• A background to the BTR model
• The distinction between the GST treatment of a BTR project and a BTS project, including the implications for:
  • construction costs
  • ongoing costs relating to the leasing of the property
  • selling the property
• What if a BTR project is considered to be the constructing of commercial residential premises?
• BTRs and the interaction of the five year continuous rental rule for new residential premises
• What if there is an intention to sell part or all of the property in an indefinite time in the future? (GSTR 2009/4)
• GST implications for purpose BTR projects, including:
  • retirement villages
  • student accommodation
• Practical examples

Webinar 2: The Road to Hell is Paved with Good Intentions

Intentions can be an extremely important aspect of determining the tax treatment of a transaction. They can also be quite difficult to support when required and they can change over time. To comply with GST requirements, practitioners may find themselves having to ask a client what their intention is for a property at a particular point of time. This session explores when the question may need to be asked and the GST implications of the answer, including:

• GST implications of purchasing property as a GST-free supply of a going concern with intention of using for commercial leasing and:
  • subsequently using for private or input taxed use
  • subsequently using for land development
• Farmland acquired under the GST-free farmland exemption with intention of using for farming, subsequently used for property development
• Is the test for residential premises determined by intended use or the characteristics of the property? (Sunchen Pty Ltd v C of T [2010] FCAFC 138)
• How adjustment periods can apply when there is a change of intention of use for newly constructed residential property:
  • intended for sale and subsequently rented out (GSTR 2009/4)
  • intended for renting and subsequently sold
• The GST implications if there are mixed intentions for a property at a point in time (ie. sell or rent)
• Tips to support intention of a property’s use, including:
  • entities that own a number of properties with different intended purposes (ie. one or more for investment and others to sell)
  • a third party’s intention to use a property for a farming business when using the GST-free farmland exemption
  • how a change of intended use impacts the reporting of a property in the financial statements
• Practical examples

SPECIAL PURCHASE OFFER – EARLY EOFY SALE

This pair of recorded webinars would usually cost $539, but as part of the Early EOFY sale you can buy the pair for only $297 if you order by 31.5.24.