Recorded Webinar: The Margin Scheme: Dodging the Traps and Hazards

Margin schemes continue to be a key element of many property developments. However, the complexity of Division 75 continues to catch advisers and developers off guard. This session examines a range of margin scheme scenarios which can lead taxpayers astray, including:

• Apportionment in mixed developments (for example, a farm with main residence or cottage that is leased out)
• Amalgamated land – what happens when you acquire multiple blocks with different margin scheme consequences?
• Acquisition of land through a deceased estate
• The effect of non-monetary consideration (for example, an agreement with government to provide social housing as part of a large-scale development)
• Working through a look through scenario where actual facts are not known
• Refund when margin scheme misapplied:
  • can you obtain refund without refunding to purchaser?
  • what is the impact of having claimed input tax credits?
• Increasing adjustments under section 75-22 (McEwans Australia Pty Ltd v Brisbane City Council [2016] QDC 347)