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Recorded Webinars

Recorded Webinar: GST Change of Use and the Dithering Developer

Will we sell or rent? And what if we plan to sell but we change our mind? These two questions constantly bedevil the GST treatment of apartment property developments. Rent apartments and you can turn them into input-taxed residential real estate so no GST is charged on sale if
PRESENTED BY Matthew Cridland Partner - K&L Gates

Date/Time

About the Webinar

Will we sell or rent? And what if we plan to sell but we change our mind? These two questions constantly bedevil the GST treatment of apartment property developments. Rent apartments and you can turn them into input-taxed residential real estate so no GST is charged on sale if you keep them for long enough. But what if you’ve claimed input taxed credits during the construction phase? Will you have to pay them back as a Division 129 adjustment? This presentation examines the impact of selling and renting and changing your mind.

  • Understanding the principles: how Division 129 works

  • Understanding the Commissioner’s ruling on calculating the adjustment

  • How the rules apply in practice

    • Selling the existing house and living in the new one on a two lot subdivision

    • Keeping a couple of units in a development and renting them

    • Minimising Div 129 adjustments in practice

  • Outlasting the adjustment period so you can sell without charging GST

  • Will the ultimate sale be a mere realisation or will it be more?Why does it matter?

  • August’s case

Presented By

Matthew Cridland
Partner, K&L Gates

Mr. Cridland is a Sydney based indirect tax lawyer. He advises clients in relation to all indirect taxes, including goods and services tax (GST), stamp duty, land tax, payroll tax, wine equalisation tax (WET), luxury car tax (LCT), customs duty and excise.

With respect to clients and sectors, his areas of experience include: real property, financial services, corporate mergers and acquisitions, energy and resources, public private partnerships (PPPs) and infrastructure, telecommunications, retail, insolvency and restructuring, and inbound intangible supplies. He also has experience advising both Federal and State Government agencies.

Prior to joining K&L Gates, Mr. Cridland worked at an international law firm where he was the Head of the GST and Customs Duty (Australia).

Who Should Attend?

This webinar is suitable for accountants and lawyers advising on GST and property– Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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