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Recorded Webinars

Recorded Webinar: GST Free Farmland: More to it Than Meets the Eye

Selling the farm can avail the participating parties to the GST free farmland concession. However, there is more to it than just opting for the concession to apply. There are conditions for both buyer and seller and when those conditions include future use, there are bound to be
PRESENTED BY Aaron Chisholm Associate - Minter Ellison , Melbourne

Date/Time

About the Webinar

Selling the farm can avail the participating parties to the GST free farmland concession. However, there is more to it than just opting for the concession to apply. There are conditions for both buyer and seller and when those conditions include future use, there are bound to be uncertainties. This session explores the GST free farmland rules to assist practitioners in getting it right, along with a heads up on what can go wrong, including:

  • The conditions for:
    • the seller
    • the buyer
    • subdivided farmland
  • What if the farming business or equipment is sold with the land?
  • What if the farmland has a residential property on it? (GSTA TPP 092)
  • The pros and cons of using:
    • the GST free farmland provisions
    • the GST free going concern provisions, if eligible
    • treating the sale as a taxable supply
  • What if the buyer intends to operate a farming business, however:
    • can’t get farming approval
    • uses the property for agistment
    • the ATO considers the activity is more akin to a hobby farm
  • Who is liable for any increasing GST adjustments that may arise?
  • Is there any documentary evidence required to support the purchaser’s intention to carry on a farming business?
  • Case studies

Presented By

Aaron Chisholm
Associate, Minter Ellison Melbourne, Vic

Aaron has specialist expertise advising clients on Australian GST and state taxes issues (including stamp duty, land tax, windfall gains tax and Growth Areas Infrastructure Contribution).

Spanning a wide range of industries, including commercial and residential property, energy and resources, construction and funds management, Aaron regularly advises on various property-related transactions, projects and developments across Australia as well as advising both listed and unlisted clients in high-profile mergers and acquisitions.  Aaron has also advised a number of government clients on GST and state taxes issues.

More broadly, Aaron provides domestic and international clients with legal and commercial advice to assist them in the conduct and development of their business and assist them in their dealings with State and Federal revenue authorities.

Who Should Attend?

This webinar is suitable for accountants and lawyers advising on GST and for lawyers practising in property law – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD/Training hour. Lawyers can claim up to 1 CPD unit/point – substantive law . This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

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]

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