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101702
Individual Podcasts

GST and Property Settlements: Practicalities Explained

Since 1 July 2018, the GST at settlement rules have been in place. However, from all accounts from the ATO, the new process is not always fully understood. This session looks at the requirements and the settlements affected, including: The properties GST withholding applies to
PRESENTED BY Jeff Pfaff Partner - PwC , Brisbane

Date/Time

About the Podcast

Since 1 July 2018, the GST at settlement rules have been in place. However, from all accounts from the ATO, the new process is not always fully understood. This session looks at the requirements and the settlements affected, including:

  • The properties GST withholding applies to
  • The obligations for the seller and purchaser
  • How the rules apply for:
    • instalment contracts
    • the margin scheme
    • mixed and multiple supplies
  • Are settlement adjustments included in the calculation of the GST withholding amount? (GSTD 2006/3)
  • Reporting the sale on the BAS and how the ATO process the GST credit
  • What to do if the GST credit isn’t showing on the GST property account
  • What are the foreign resident capital gain withholding requirements?
  • Practical examples

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

Enquiries/Assistance

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