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Property Subdivision Web Series

How to advise on the tax and GST treatment of subdivision projects

Navigating the revenue / capital distinction
Reduce the risk of an ATO challenge
Managing the tax consequences in practice

A Live Instructor-Led 2-Part Web Series

As the urban sprawl continues in most major Australian cities, practitioners are often asked to advise on the tax treatment of subdivision projects. Before clients jump in and commit to anything, it is important to understand the tax liabilities that might arise from these projects.

Unfortunately, many clients make incorrect assumptions about the way their project will be taxed, often believing that any tax exposure will be minimal. However, the reality is that there are a number of important tax issues that need to be considered and that could have a significant impact on the overall profitability of the project.

The Property Subdivision Web Series delivers the knowledge you need to work with and advise clients initiating subdivision projects.

Total 2.75 CPD Hours

Details

Recorded: 15 & 22 August 2024

FAAA accredited for a total of 2.75 CPD hours

  • 2.75 Tax (financial) advice

Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.

*Office Registrations. Maximum 10 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.

"Very practical ...made complex issues simple.”

2024 webinar participant

What we cover

The Property Subdivision Web Series walks you through the tax and GST implications of subdivision projects - essential training for any client-facing accountant.

What's included?

  • 2 x 1.25 hour (est.) webinars
  • 3 month access to Q&A embedded webinar recording
  • Reference notes
1
1.25 CPD hours (est.)

Session 1

August 15, 2024

with Michael Carruthers

Session 1 of the series focuses on income tax and CGT issues including:

  • Why the revenue / capital distinction matters so much
  • The practical factors that need to be taken into account to reduce the risk of ATO challenge
  • The unexpected outcomes that can arise from partitioning arrangements
  • How to calculate the capital gain or loss from the project or figure out the profit that should be taxed on revenue account
  • Switching from capital to revenue account
  • When the main residence exemption can and cannot be applied
2
1.25 CPD hours (est.)

Session 2

August 22, 2024

With Sheoni Dunlop

In the second part of the series we take a closer look at the key GST issues that need to be considered including:

  • How to determine whether a client needs to register for GST
  • Dealing with the GST treatment of mixed supplies
  • Claiming GST credits and the GST adjustment rules
  • When the margin scheme can be applied and how to calculate the GST liability
  • How to determine whether the GST withholding rules apply and the impact on both parties

Our presenter

Tax Director, Knowledge Shop

Michael Carruthers

MichaelCarruthers

Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.

Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He was a member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.

He was also an expert panel member for the Board’s review of tax impediments facing small business.

Senior Trainer (Tax); Senior Tax Writer, TaxBanter

Sheoni Dunlop

Sheoni-Dunlop rSheoni started her career in a big four accounting firm, where she developed her skills in corporate and international tax as well as GST, stamp duty, managed investment trusts and superannuation funds.

After leaving the big four, she primarily worked in mid-tier firms providing and managing the provision of advice in respect of both federal and state based taxes to domestic and foreign wealthy individuals, private and public groups and investment funds.

She also worked as a senior tax advisor in a large Australian company, which headed a multinational group. While working as a tax manager and then senior tax manager in mid-tier firms, Sheoni developed training materials and presented training while also being responsible for oversight of training programs.

Sheoni is very passionate about tax education and particularly enjoys helping others understand complex tax issues.

She is a senior trainer and senior tax writer for TaxBanter.