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Recorded Webinars

Recorded Webinar: GST Registration, the Meaning of Enterprise and the Mum and Dad Developer

If you’re not registered or required to be registered for GST, you don’t have to account for it and you don’t need to add GST to the purchase price. Property costs, so that makes a big difference to the profitability of a development. If you’re a small developer, you may not ev
PRESENTED BY Andrew Sommer Partner - Clayton Utz , Sydney

Date/Time

About the Webinar

If you’re not registered or required to be registered for GST, you don’t have to account for it and you don’t need to add GST to the purchase price. Property costs, so that makes a big difference to the profitability of a development. If you’re a small developer, you may not even need to be registered or, if registered, you may be able to cancel it. It depends on whether you are carrying on an enterprise. This presentation will review the meaning of enterprise in the context of small property developer and discuss both registration and the cancellation of registration as a strategy to minimise the impact of GST.

  • The pluses and minuses of registration – claiming of input tax credits vs no GST, the use of the margin scheme vs no registration

  • The principles:

    • when are you carrying on an enterprise?

    • what is entailed in carrying on a business – common law – ATO view and ruling

    • the meaning of business-like activity

    • practical examples

  • Registration and the turnover test – mere realisations of a capital asset

  • How this plays out in property development:

    • the redevelopment of the suburban block

    • rezoned farmland, broadacre development and the development agreement

    • other examples

  • Timing – when should you register – when should you deregister?

Presented By

Andrew Sommer
Partner, Clayton Utz Sydney, NSW

Andrew Sommer is the National Practice Group Leader for our Taxation group and is an experienced tax lawyers who advises on a wide variety of indirect tax matters including GST, income tax, fringe benefits tax, land tax and pay roll tax.

Andrew has extensive experience in the GST aspects of financing structures (including securitisations), major projects, property transactions and the whole range of commercial transactions and is experience in the conduct and management of disputes with revenue authorities and litigation at all levels, including proceeding before the High Court. Andrew has also been responsible for various submissions lodged with the Australian Taxation Office and Commonwealth Treasury on behalf of clients and industry groups.

Andrew regularly presents on GST and indirect tax issues at tax specialist conferences. Andrew is a member of the Australian Taxation Office’s indirect Tax Rulings Panel and a member of the ATO’s GST Stewardship Group.

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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