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Recorded Webinars

Recorded Webinar: GST & Property: The Road to Hell is Paved with Good Intentions

Intentions can be an extremely important aspect of determining the tax treatment of a transaction. They can also be quite difficult to support when required and they can change over time. To comply with GST requirements, practitioners may find themselves having to ask a client wha
PRESENTED BY Jeff Pfaff Partner - PwC , Brisbane

Date/Time

About the Webinar

Intentions can be an extremely important aspect of determining the tax treatment of a transaction. They can also be quite difficult to support when required and they can change over time. To comply with GST requirements, practitioners may find themselves having to ask a client what their intention is for a property at a particular point of time. This session explores when the question may need to be asked and the GST implications of the answer, including:

  • GST implications of purchasing property as a GST-free supply of a going concern with intention of using for commercial leasing and:
    • subsequently using for private or input taxed use
    • subsequently using for land development
  • Farmland acquired under the GST-free farmland exemption with intention of using for farming, subsequently used for property development
  • Is the test for residential premises determined by intended use or the characteristics of the property? (Sunchen Pty Ltd v C of T [2010] FCAFC 138)
  • How adjustment periods can apply when there is a change of intention of use for newly constructed residential property:
    • intended for sale and subsequently rented out (GSTR 2009/4)
    • intended for renting and subsequently sold
  • The GST implications if there are mixed intentions for a property at a point in time (ie. sell or rent)
  • Tips to support intention of a property’s use, including:
    • entities that own a number of properties with different intended purposes (ie. one or more for investment and others to sell)
    • a third party’s intention to use a property for a farming business when using the GST-free farmland exemption
    • how a change of intended use impacts the reporting of a property in the financial statements
  • Practical examples

Presented By

Jeff Pfaff
Partner, PwC Brisbane, Qld

Jeff is a Partner in PwC's Financial Advisory Group and leads the firm’s Indirect Tax Practice in Brisbane.

He has specialised in indirect taxes since 1999 and advises on the entire spectrum of managing its commercial, technical and administrative challenges. His client list ranges from small businesses to some of Australia’s largest public and private companies.

Prior to joining PwC, he was employed by the Australian Taxation Office (ATO) as a Senior Director. During his time at the ATO, Jeff had various responsibilities at a national level for the strategic management of technical and compliance issues. In particular, these issues included managing compliance risks in the property sector and the application of the general anti-avoidance rules. He also led some of the Commissioner’s largest and most complex audits.

Who Should Attend?

This webinar is suitable for accountants and lawyers advising on GST and property law – 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. Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

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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