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Recorded Webinars

Recorded Webinar: How to Determine the Tax Treatment of a Property Sale

Being asked how a property sale is taxed can be one of those quick tax questions that can require significant time and research to not necessarily come up with a definitive answer. This session looks into the tax treatment of various types of property sales to assist you in answer
PRESENTED BY Paula Tallon Tax Specialist - Salann Tax , Sydney

Date/Time

About the Webinar

Being asked how a property sale is taxed can be one of those quick tax questions that can require significant time and research to not necessarily come up with a definitive answer. This session looks into the tax treatment of various types of property sales to assist you in answering that next property sale question, including:

  • What are the three income tax scenarios that can apply to a land subdivision?
  • Can a change of intention from main residence use to subdividing the land for sale, change the tax status from capital to revenue?
  • If a profit-making intention is determined for the subdivision of land a main residence is located on, how is the profit calculated?
  • What factors contribute to going beyond merely realising the asset (capital) to being on revenue account?
  • When undertaking a subdivision, what type of activity has a bearing on the capital/revenue distinction? i.e.:
    • is the extent of engaging a developer and other professionals relevant?
    • obtaining building plans and permits for the sale of subdivided rear yard of a main residence to fetch a higher price?
  • progressively subdividing and selling off farmland
  • Are there any tax issues to consider for a builder who constructs a main residence then resides in it for a year or so before selling?
  • Practical examples

Presented By

Paula Tallon
Tax Specialist, Salann Tax Sydney, NSW

Paula is an Australian and UK tax adviser and the founder of Salann, a specialist tax consultancy working with advisors and their clients to overcome tax challenges with practical and creative solutions.

Prior to founding Salann, Paula was a Director with Sydney based Prosperity Advisers Group. She has specialised in tax for over 25 years. Before moving to Australia in 2017 Paula was managing partner of Gabelle LLP, a specialist tax firm which she founded in 2011 and sold to Markel International in 2017. Prior to founding Gabelle, Paula was a tax partner with BDO in London.

Paula has particular expertise in advising family businesses and advises individuals, corporates, partnerships, and trustees, specifically in relation to property matters, business transactions and structuring conundrums.

Who Should Attend?

This webinar is suitable for accountants advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD/Training hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

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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