Event Details

Date & Time

Thu, 19 Oct 2017 08:15 AM - 10:15 AM

Location

Theatrette - State Library of Victoria, 179 La Trobe Street, Melbourne

Cost (Prices include GST)

Member Prices

$ 80.00

Member Prices

No Charge

Non-Member Prices

$ 110.00

Non-Member Prices

No Charge
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(03) 9832 9600

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Property deals, development structures and cash flow outcomes are often not straightforward, and sometimes don't proceed exactly as planned.  Especially in residential, commercial residential and mixed developments. This can be seen by the escalating scrutiny, intervention and audits by the ATO, past and announced changes to the GST laws, and increasing disagreements between the parties involved.  

Ken and Neil will outline a wide range of GST property issues (see the list below) and what can be done to identify, avoid, mitigate and resolve them.  This will not be an academic lecture, but will be based on practical live examples seen from the perspective of both developers and ATO.  

Join us for an interactive briefing, presented by an independent adviser and a senior representative from the ATO who both specialise in GST property issues.
 
Topics to be explored include:
  • GST consequences of adopting Joint Venture, Partnership and Development Agreement structures
  • Acquisitions of GST free Farmland versus GST free Going Concerns
  • Claiming refunds of GST input tax credits and overpayments of GST from the ATO, and the 4 year rule
  • Treatment of Security Deposits and instalment contracts, including when GST is payable and when GST input tax credits are claimable
  • Margin Scheme: common myths, errors and missed opportunities
  • GST consequences of Settlement failure, Bad Debts, nomination of purchasers, rental guarantees, incentives
  • Residential property issues: GST payable when intended use changes, what are New Residential Premises including the 5 year rule, Serviced Apartments
  • Update of May 2017 Federal Budget GST measures relating to Residential Premises and Subdivisions
  • Engagement with the ATO prior to commencement, during and at termination of projects, and when ATO audits or reviews arise in between.  
  • ATO GST Private and Public Rulings, and ATO Practice Statements
 
Presenters:
 
Neil Dixon, Director - GST Risk & Strategy and Indirect Tax Business Line, Australian Tax Office
 
Neil is the Risk Manager for the GST property law clarification risk, which primarily requires the identification, development and implementation of appropriate mitigation strategies to resolve a range of issues where there is uncertainty in the correct interpretation of the GST Act as it applies to property transactions.   
 
Ken Fehily – Principal/Director, Fehily Advisory
 
Ken provides independent and definitive GST advice to clients, and their advisors or commercial associates, in resolving complex or uncertain GST matters.  He specialises in making representations to effectively and efficiently resolve disputes, audits, reviews and retained refunds by the ATO, especially for those in the property sector.
 
We invite you to submit any questions you have in advance, which will then be addressed by the presenters in the session.

 

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Cancellation Policy: Cancellations must be advised in writing at least 7 working days prior to the event date. A refund will not be granted if a registrant fails to attend or cancels within 6 working days prior to the event. Substitutions can be made at any time without penalty.