Overlooking the GST implications of property transactions can be an expensive mistake – for both clients and their advisers. Failing to correctly advise on the GST implications of property transactions is one of the leading causes of professional indemnity claims for accountants and lawyers.
This webinar considers practical issues arising with GST and property transactions, including applying the compulsory zero-rating rules, dealing with unexpected GST issues arising on the sale and purchase of property, understanding when a one-off subdivision amounts to a “taxable activity”, and deciding whether a property is a “commercial dwelling”, a “dwelling” or neither.
Common errors relating to over claiming secondhand goods credits on supplies between associated persons, accounting for GST in the wrong taxable period and failing to account for GST correctly on de-registration will also be discussed.
Intermediate and senior accountants, tax lawyers, commercial lawyers, property lawyers and others who advise clients on property transactions.
10 August 2017
Stephen Tomlinson, Partner, Tomlinson Law
1.25 CPD hours