Close
My Cart (0 items)
Checkout

Login to TEN

Privacy Policy
Privacy Policy
Return
My Cart (0 items)
Checkout
106869
Recorded Webinars

Recorded Webinar: Real Property and a Change of Mind - The Tax Pressure Points

Over the course of ownership of a property, it’s use or intention for use can change, and depending on what that change is, there can be significant income tax implications that need to be addressed. This session looks at some of those changes and the tax consequences that can fol
PRESENTED BY Neil Brydges Principal Lawyer - Sladen Legal , Melbourne

Date/Time

About the Webinar

Over the course of ownership of a property, it’s use or intention for use can change, and depending on what that change is, there can be significant income tax implications that need to be addressed. This session looks at some of those changes and the tax consequences that can follow, including:

  • Property owned for years under capital account, now intending to be subdivided to maximise the sale price before selling
  • A review of ATO guidance material for:
    • when property can become trading stock (TD 92/124; TD 92/132)
    • property developments that don’t proceed, are abandoned, or cease and recommence at a later date (TDs 92/126 - 128)
  • Calculating the taxable amount for a property that has a history of being held on both revenue and capital account, when the sale is treated as: 
    • a profit-making undertaking
    • a business
  • Changing a main residence’s use to income producing (sec. 118-192 ITAA 1997)
  • The taxing implications for property used as both a main residence and to “flip” to generate a profit
  • Tips for record keeping to support use of property or a change of intended use, including:
    • what the ATO request using hindsight
    • the relevance of purpose conveyed to lenders
  • Checklist for determining the “pressure points” and the tax implications for a change of use or a change of intention for use
  • Practical examples

Presented By

Neil Brydges
Principal Lawyer, Sladen Legal Melbourne, Vic

Neil Brydges is a Principal Lawyer in Sladen Legal’s tax group. Neil practises in all areas of direct and indirect tax with a particular focus on the taxation of trusts, deceased estates, income and capital gains tax, and Division 7A.

Neil has also advised extensively on cross border taxation issues and the implications of transactions and dealings in the development of property. Using his technical tax knowledge, Neil works with clients to obtain commercial and practical outcomes. He has particular experience in dealing with the Australian Taxation Office on complex tax issues in a dispute resolution context.

Neil is a keen and active member of the tax community. As well as presenting on tax topics at various sessions, he has authored and co-authored several published articles, papers, and bulletins. Neil is a member of the Tax Committee of the Law Council of Australia, an Accredited Specialist in Taxation Law and is a member of the Tax & Revenue Law Committee with the Law Institute of Victoria and a Chartered Tax Advisor and member of the Dispute Resolution Technical Committees with The Tax Institute.

Who Should Attend?

This webinar is suitable for accountants advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Registered live webinar delegates will receive a CPD certificate for attendance at this webinar. Accountants can claim up to 1 CPD hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

 

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

Go to top