Recorded Webinar: Property Developments and Mere Realisation: The Commissioner Changes His Spots

The Commissioner has traditionally treated small-scale property developments as mere realisations of a capital asset. Recent activity indicates that the Commissioner has changed his views and wants to tax these developments on revenue account. So gird your loins for a fight. This session examines the following areas:

• The revenue and capital distinction implications for property developers:
  • subdividing land held for a long period- when does the land cease to be on capital account?
  • what then happens – pre and post CGT assets?
  • what is an isolated profit-making transaction?
  • am I carrying on a business of property development?
• The new aggressive stance by the Commissioner –correct at law?
• Small two lot subdivisions and mere realisation
• Strategies for persuading the Commissioner that you are really just realising a capital asset
• Recent private rulings