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Recorded Webinars

Recorded Webinar: The Tax Traps for the Small Scale Developer: From Backyard Builds to Big Tax Bills

You would think that when it comes to property development, that the tax complexities would diminish the smaller the project. However, it is those smaller projects that often fall into that grey area of whether they are an “enterprise” for GST purposes, or whether the project is o
PRESENTED BY Russell Krupp Director - BlueRock Law , Melbourne

Date/Time

About the Webinar

You would think that when it comes to property development, that the tax complexities would diminish the smaller the project. However, it is those smaller projects that often fall into that grey area of whether they are an “enterprise” for GST purposes, or whether the project is on revenue or capital account for income tax purposes. This session attempts to find the tipping point on these issues, including:

  • At what point does GST registration become a requirement for the small scale developer?
  • Does the GST treatment influence the income tax treatment and vice versa?
  • How income tax and GST apply to the two lot subdivision (McCarthy v FC of T [2021] AATA 1511)
  • Whether both the revenue and capital gains tax provisions apply to a small scale property development concurrently, and if so,
    • how is the taxable income or loss on the project calculated
    • does this impact on the 50% CGT discount? (sec. 118-120 ITAA 1997)
  • How is the taxpayer fairing, arguing capital for a property development, when the ATO is arguing revenue? (incl. PBR 1052191971521)
  • At what point does a property on revenue account get characterised as trading stock?
  • Applying the income tax and GST rules to land owned by three individuals, when:
    • three units are built, then
    • a three lot subdivision is performed, and
    • each individual is then allocated 100% ownership of one lot

Presented By

Russell Krupp
Director, BlueRock Law Melbourne, Victoria

Russell Krupp has been working as a lawyer for more than 17 years in both public and private sectors. In addition to being a lawyer, he is also a Chartered Accountant and a Chartered Tax Advisor. Russell's main focus is on tax law, with special interests in capital raising, M&A, start-up law, and commercial law. He is recognized as one of 6 accredited specialists in tax law in Victoria.

His day-to-day work involves preparing complex tax and duty advice, and drafting commercial agreements to implement that advice. Since joining BlueRock Law, Russell has been building the firm's practices in tax, capital raising and start-up law.

Russell's clients come from various backgrounds, including start-ups, professional services firms, tech and media businesses, and high-net-worth individuals. His practical approach and ability to cut through complexity make him a reliable resource for tackling his clients’ tax and legal challenges.

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

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

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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