Second Annual GST and Property One Day Masterclass

Where there's a property transaction, there are myriad GST issues, because the ways on which property transactions are treated varies: they can be taxable supplies, input taxed supplies or GST-free supplies, depending on the situation. How do you ensure you're ahead of the curve of the best strategies for your clients? That's no small task but this specialised masterclass will help, with a who's-who line-up of some of the best accountants and lawyers working in the industry today.

This conference will provide you with a practical understanding of how GST interacts with property transactions, including sessions on the GST withholding regime, mixed purpose property developments and GST implications of purchaser substitutions.

• Dodging the Hazards in the GST Withholding Regime - Now that the GST withholding regime has been in for over a year, the common errors that are being made have become more apparent. This session identifies common traps and hazards occurring in relation to GST withholding on new residential premises and potential residential land.

• Calculating the Margin Scheme in Property Matters: Practical Compliance Imperatives - Beyond the technical operation of Division 75, the use of the margin scheme requires understanding the practical implications of how it will apply to specific scenarios. This session steps through the use of the margin scheme in specific facts and circumstances.

• Traps in GST-free Supplies of a Going Concern – And How to Avoid Them - Selling a business as a GST-free going concern is now regarded as standard operating practice, which can give rise to complacency and mistakes. This session explores the types of issues that can be overlooked by advisers and taxpayers entering into supply of a going concern.

• Application of GST to Mixed Purpose Property Developments - The characterisation of real property supplies for GST purposes becomes more complex in mixed purpose properties. This session shows you how to conduct your analysis by reference to two mixed use scenarios. First, integrated communities (with residential premises, social and affordable housing, retail, and commercial zones); second, a farm with homestead, curtilage and paddocks.

• A New Dance Partner - GST Implications of Purchaser Substitution - With tightening rules on bank lending and increased taxes on foreign buyers, developers are seeing an uptick in the number of transactions where the initial purchaser is looking to pull out of a sale contract or to substitute an unrelated third party. This session reviews the potential GST consequences of such transactions.