Managing Complex Tax Issues in Property Matters - recorded online conference

Recorded Online Conference,Taxation,Managing Complex Tax Issues in Property Matters - recorded online conference
23rd April 2020

Duration:  3 hours

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 ABOUT THE RECORDED ONLINE CONFERENCE

You can put your staff in the boardroom and watch it there.  You can watch it on your computer or on your portable electronic device.  All for the same low price.

The conference will be based on our highly successful video webinar technology: there’ll be a chairperson, a panel of experts, presentations and discussion.


Session 1:  Capital Versus Revenue - The New ATO Frontier

Advisers and taxpayers may be forgiven for believing that the principles relating to capital and revenue characterisation are well settled. However, everything old is new again and the ATO is increasingly pushing the boundaries as to asset characterisation. This session explores:

  • What is the ATO’s current position? Understanding the ATO’s recent guidance

    • Considering the ATO case studies

  • Determining whether to look at purpose at the time of acquisition or at a later time

  • Case studies:

    • Farmers selling farmland to developers

    • ‘Flippers’ of houses

    • Broadacre developments

  • Interaction with GST “carrying on an enterprise” – the chicken and egg of GST registration and its impact on income tax characterisation


Session 2: Show Me the Taxes! Understanding What Happens in The Contract of Sale

Signing the contract of sale for property can trigger a raft of tax processes and events which taxpayers and advisers need to be on top of. This session takes a multi-faceted approach to examine the tax issues that arise, including:

  • GST withholding:

    • What’s included in new residential premises and potential residential premises?

    • What obligations does the purchaser have?

    • What obligations does the vendor have?

    • Practical lessons now the dust has settled

  • Foreign resident capital gains withholding:

    • Which transactions are covered?

    • What obligations does the purchaser have?

    • What obligations does the vendor have?

  • Foreign purchaser surcharge

    • Are all transactions over residential land covered? The state by state position

  • Reviewing the contract clauses – what to look for


Session 3:  Taxation of Principal Place of Residence

Though the principal place of residence is nominally free of income tax and land tax, there are a range of exceptions to that rule. And, further legislative reform is on the way impacting the availability of the CGT exemption for foreign residents.  This session considers the loopholes and problems that can arise when relying on the principal place of residence argument, including:

  • Is the PPR held by the appropriate person? Mingos v Commissioner of Taxation [2019] FCA 834

  • Can a place be exempt on the basis that it’s PPR even if the owner isn’t currently living there?

    • 6-year concession for CGT purposes

    • Land tax refund for newly built or substantially renovated home – how many years can be refunded?

  • Can the PPR exemption apply for foreign persons?

    • Liability for land tax versus land tax surcharge

    • Availability of the CGT exemption –

  • Can a taxpayer be a non-resident for income tax purposes but hold a PPR for land tax purposes?

  • Can a person who lives in a house for the purpose of ‘flipping’ by renovation for profit, claim the PPR concession/exemption for income tax and land tax purposes?

 THE FACULTY

Keith James, Consultant, Hall & Wilcox, Melbourne (Chair)

Murray Shume, Special Counsel, Cooper Grace Ward Lawyers, Brisbane

Tamara Cardan, Tax Counsel, Rigby Cooke Lawyers, Melbourne

Josh Chye, Partner, HLB Mann Judd, Melbourne

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 FEEDBACK FROM PREVIOUS ONLINE CONFERENCES
  • It was just like being at a well run conference but in many ways better. 
  • This option is of great assistance to country practitioners.
  • The live online conference format worked well and made the speakers more engaging than a recording.
  • Our team used the boardroom.  We could talk and discuss the presentation without feeling we were imposing on others and you could submit a question, which we did.  All from the comfort of our own office.
  • The conference was well organised and the email links very useful.
CPD

Accountants can claim up to 3 CPD/Training hours.

EARLY BIRD REGISTRATION

If you register and pay by 27 March 2020 you will pay only $495 – a saving of $55 off the full price conference registration fee of $550.

 ENQUIRIES/ASSISTANCE
If you need assistance or have an enquiry, please do not hesitate to contact our Event Coordinator, Lisa Tran on (03) 8601 7709 or email: lisa@tved.net.au



© Television Education Network Pty Ltd 2020

Product Code: KPTAPR20
 Price:  $495.00 (Inclusive of GST)