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Disclaimer
These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.

Document Type

Publication

Pages

244

Published

September 28, 2020

Notes Online Home 2020 Tax and Property

This publication, as a whole, is available in HARDCOPY only.

Topics covered by these seminar notes include:

• NTAA guide for property developers
• The new vacant land rules
• The ATO’s attack on rental properties
• Other key property issues
• Tips and traps with the main residence exemption
• Key GST issues for property
• SMSFs and property explained

Chapters and Articles in 2020 Tax and Property

Overview of key concepts for understanding the GST treatment of property

Avoiding costly mistakes with the margin scheme

Common GST issues with property transactions

There are three different types of property developers- what are they?

The taxation of a ‘profit-making scheme’

Tax issues when holding land as trading stock

Determining the optimal tax structure for undertaking a property development activity

Using joint ventures to develop property

The latest guide to the CGT and GST withholding rules for property buyers

Key tax issues for lessors and lessees

Maximising building write-off claims

The KEY regulatory requirements for SMSFs acquiring, holding and selling property

SMSFs and Business Real Property (‘BRP’)

Tips and traps with SMSF borrowing arrangements

Using a unit trust to purchase a property through an SMSF

Correctly classifying improvements and deductible repairs for rental properties

Rental property owners face new limitations for second-hand asset depreciation claims

Interest expenses – The deductions that attracts the greatest ATO attention

ATO cracks down on expenses being claimed for holiday homes and Airbnb properties

Salary packaging residential rental property expenses to beat the GST

Holding costs incurred before 1 July 2019

Holding costs incurred after 30 June 2019

Understanding the ‘vacant land’ exceptions

The fundamentals of the MRE

Using your main residence to produce income

Key tax issues for dwellings held by deceased estates