Jason Scully is a finance and legal professional with more than 15 years of experience working with large corporates. His main area of expertise is in indirect taxes, in particular GST and specialising in international transactions, financial services, property and the middle market. In his various roles has has gained experience in finance, operations, employment and direct taxes and internal review. Jason's training is in law, accounting and finance.
Jason considers himself fortunate to work for Pitcher Partners, a clear leader in the middle market and property sector.
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Individual Podcasts
GST in Property Dealings: When Changing Intention Changes the Tax
There are numerous reasons why a property’s intended use can change. These changes can result in calculations required to be performed to adjust GST input tax credit entitlements either up or down. This session looks into how the GST adjustment rules apply to property, including:
PRESENTED BY
Jason Scully
Client Director - Tax Advisory -
Pitcher Partners
, Melbourne
Date/Time
About the Podcast
There are numerous reasons why a property’s intended use can change. These changes can result in calculations required to be performed to adjust GST input tax credit entitlements either up or down. This session looks into how the GST adjustment rules apply to property, including:
- Situations that trigger the GST adjustment provisions
- How the adjustment periods apply to property
- “Dual purpose” situations - ie. building to sell and then renting whilst attempting to find a buyer
- Interaction of the adjustment rules with the “5 year rule” for new residential premises (GSTR 2009/4; Domestic Property developments Pty Ltd as trustee for the DALS Property Trust v FC of T [2022] AATA 4436)
- How the GST adjustment rules can apply to property sold as:
- a GST-free going concern (FC of T v MBI Properties Pty Ltd [2014] HCA 49)
- GST-free farmland
- How to calculate the adjustments
- How to:
- report increasing or decreasing GST adjustments on the BAS
- account for increasing and decreasing GST adjustments for income tax purposes
- Practical examples of GST adjustment calculations
Presented By
Jason Scully
Client Director - Tax Advisory, Pitcher Partners Melbourne, VicCPD Information
35 minutes
0.55 CPD hours/units/points
WA Lawyers – TEN is unable to verify that you have earned CPD for this product as we cannot verify that you have listened to the podcast which is a requirement of the LPBWA. TEN is an accredited provider.
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