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For 2024 and beyond, the ATO has identified real property transactions, including acquisition, sale and leasing of the same, as an acute focus area for their tax compliance activities as a result of receiving significant Government funding.
They've introduced data matching and information sharing with banks, financial institutions, and rental bond authorities to accentuate their audits and reviews. Since property deals often involve significant amounts of money, there are complex tax issues involved.
This seminar will cover the ATO's main focus areas for property transactions and explain key tax matters, including concessions, tax planning, income tax, capital gains tax, and GST.
Topics Covered
- Income tax risks and opportunities relevant to property investment, including specific allowable deductions relevant to property investment
- CGT aspects of property investment, including coverage of relevant exemptions and concessions, including the application of the CGT withholding regime and potential use of the small business CGT concessions
- GST implications for real property investment, including the GST classification of real property transactions, application of the margin scheme, GST-free going concern concession and the new GST withholding measures.
Benefits and Learning Outcomes
On completion of this seminar attendees will have a sound understanding of the income tax, CGT and GST treatment of property investments and the ATO’s current compliance focus areas pertaining to real property transactions.
Meet Your Speaker, Peter Adams
Peter has more than 20 years experience as a tax practitioner, having worked in senior tax management roles in the profession with both KPMG and PwC as well as in commerce. Recently Peter has focused on providing tax consulting and tax training services in the SME market.
He has a wealth of tax knowledge and is a sought after presenter on a wide array of tax topics.
