TEN Shop products: conferences, subscriptions, books and papers, webinars, DVDs and CDs. Search Results
 GST & Property: Ongoing Issues, Conundrums and Practical Solutions – a live lunchtime online conference

Online Conferences,GST and Indirect Taxes,GST & Property: Ongoing Issues, Conundrums and Practical Solutions – a live lunchtime online conference
Wednesday 9th February 2022
Vic, NSW, ACT, Tas: 12 noon to 2.45pm
QLD: 11am to 1.45pm
SA/NT: 11.30am to 2.15pm
WA: 9.00am to 11.45am
REGISTER NOW!
9 WEEKS
UNTIL THE EVENT
.   .
 ABOUT THE ONLINE CONFERENCE
Hear from the experts at this online lunchtime conference. You can watch it on your computer or on your portable electronic device from anywhere.

The conference will be based on our highly successful video webinar technology: there'll be a chairperson, presentations and you'll have an opportunity to ask questions via online chat.

One registration can be shared by colleagues within the same firm utilising the same login.

 THE PROGRAM

Session 1: GST Registration, the Meaning of Enterprise and the Mum and Dad Developer

If you’re not registered or required to be registered for GST, you don’t have to account for it and you don’t need to add GST to the purchase price.  Property costs, so that makes a big difference to the profitability of a development.  If you’re a small developer, you may not even need to be registered or, if registered, you may be able to cancel it.  It depends on whether you are carrying on an enterprise.  This presentation will review the meaning of enterprise in the context of small property developer and discuss both registration and the cancellation of registration as a strategy to minimise the impact of GST.

  • The pluses and minuses of registration – claiming of input tax credits vs no GST, the use of the margin scheme vs no registration
  • The principles:
    • when are you carrying on an enterprise?
    • what is entailed in carrying on a business – common law – ATO view and ruling
    • the meaning of business-like activity
    • practical examples
  • Registration and the turnover test – mere realisations of a capital asset
  • How this plays out in property development:
    • the redevelopment of the suburban block
    • rezoned farmland, broadacre development and the development agreement
    • other examples
  • Timing – when should you register – when should you deregister?


Session 2: 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, including:

  • Should you sell a business as a GST-free supply of a going concern?
  • Can you sell a business as a GST-free supply of a going concern?
  • Selling property as a going concern, including:
    • selling land and assigning leases;
    • assigning management and services contracts
  • Transactions involving multiple parties (multiple vendors, single purchaser and vice versa)
  • GST adjustments for going concern transactions
  • GST drafting for contracts involving GST-free supplies of a going concern


Session 3: Stepping Through the Margin Scheme in Practice

The provisions of the margin scheme are familiar to tax advisers and taxpayers in the property space. However, the practical application of the rules can lead to unexpected results, especially with the need to trace through historical transactions. This session provides a case study intensive practical exploration of how the margin scheme operates and understanding the importance of tracing historical transactions, including:

  • Valuation methodology for margin scheme purposes
  • Dealing with pre-GST property sales
  • Using the margin scheme where a going concern exemption was used in the historical chain of property transactions
  • Evidence of historical agreements to apply the margin scheme: The Trustee for the Seabreeze Estate Unit Trust v Commissioner of Taxation [2019] AATA 1395
  • Options for purchasing property and their impact on using the margin scheme:
    • Development agreement and purchase later
    • Leave house on residential property
    • Knock down house and sell vacant land
 THE FACULTY

Jonathan Ackerman, Director, Ackerman Consulting, Sydney (Chair)

Matthew Cridland, Partner, K&L Gates, Sydney

John Russell, Special Counsel, MinterEllison, Melbourne

Leanne Connor, Director, WGC Business Advisors, Melbourne

  -
 FEEDBACK FROM PREVIOUS ONLINE CONFERENCES
  • It was just like being at a well run conference but in many ways better. 
  • This option is of great assistance to country practitioners.
  • The live online conference format worked well and made the speakers more engaging than a recording.
  • Our team used the boardroom.  We could talk and discuss the presentation without feeling we were imposing on others and you could submit a question, which we did.  All from the comfort of our own office.
  • The conference was well organised and the email links very useful.
CPD CERTIFICATE

Delegates registered to attend the LIVE event will receive a CPD certificate for attendance.  Lawyers can claim up to 2.5 CPD units/points (substantive law). Accountants can claim 2.5 CPD/training hours..

EARLY BIRD REGISTRATION

If you register and pay by 21st January 2022 you will pay only $495 – a saving of $55 off the full price conference registration fee of $550.

 ENQUIRIES/ASSISTANCE
If you need assistance or have an enquiry, please do not hesitate to contact our Event Coordinator, Hayley Williams–Cameron on (03) 8601 7730 or email: [email protected]



© Television Education Network Pty Ltd 2021

Product Code: OGPFEB22
 Price:   $495.00 (Inclusive of GST)