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Recorded Webinars

Recorded Webinar: GST and Farmland Sales: Register, Cancel or Stay Put?

When farmland is sold, the GST consequences can be complex and often misunderstood. While GST-free concessions may be available, registration decisions made by the seller, whether to register, cancel or remain registered, can have major implications for both parties. This session

Date/Time

About the Webinar

When farmland is sold, the GST consequences can be complex and often misunderstood. While GST-free concessions may be available, registration decisions made by the seller, whether to register, cancel or remain registered, can have major implications for both parties. This session examines the choices and consequences of GST registration in farmland transactions, including:

  • When the sale of farmland can attract GST-free treatment
  • The pros and cons of using the GST-free farmland concession versus cancelling GST registration before sale
  • How the seller’s GST registration status impacts the purchaser when the purchaser is:
    • an associate
    • a property developer
    • a farmer
  • Tips for dealing with GST and farmland sales, including:
    • applying the projected GST turnover test (s 188-25 GST Act 1999; GSTR 2001/7)
    • when the farming enterprise is conducted by a separate entity to the landholding entity, with or without a lease arrangement
    • how to approach a GST-registered farmer who doesn’t need to be registered
    • selling part of, but not all of, the family farm
  • Pros and cons of using the margin scheme for both buyer and seller of farmland
  • Case study examining the consequences of:
    • registering for GST before selling
    • cancelling GST registration before selling
    • remaining registered when selling

Presented By

Matthew Evans
Senior Director Tax, Alvarez & Marsal Australia Sydney, NSW

Matthew Evans is a Senior Director with Alvarez & Marsal Tax in Sydney. He specializes in the goods and services tax implications of mergers and acquisitions, corporate restructures, property and infrastructure transactions. Mr. Evans also has extensive experience providing GST governance and compliance services, including managing engagement with the tax office.

With more than 12 years of experience across the United Kingdom and Australia, Mr. Evans has advised on a range of indirect taxes and issues for clients across all industries.

Mr. Evans’ notable assignments include working with clients ranging from private developers and family offices to the largest domestic and inbound property funds on property development projects, advising on the acquisition and disposal of major commercial and retail assets across Australia and advising private and government clients on some of the largest infrastructure and renewable energy projects in Australia.

Prior to joining A&M, Mr. Evans worked in the London and Sydney offices of two Big Four firms, serving most recently as a Director in the Indirect Tax Team at Deloitte in Sydney.

Mr. Evans earned a bachelor’s degree in law and European law from the University of Leeds (including an exchange year at Uppsala University in Sweden). He is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and sits on the Australian Taxation Office’s Property & Construction Stakeholder Relationship Forum.

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

Accountants can claim up to 1 CPD hour

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, Jason Hooker on (03) 8601 7709 or email: [email protected]

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