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GST Treatment of interest-free loans for retirement village developers
- By Moore Stephens
- Published 22/06/2010
- Moore Property News
- Unrated
GST treatment of interest-free loans received by retirement village
developers.
Apportionment between input taxed supplies and taxable supplies for GST for retirement homes – the Commissioner rules (GSTR 2010/D1)!
Apportionment between input taxed supplies and taxable supplies for GST for retirement homes – the Commissioner rules (GSTR 2010/D1)!
Managed Investment Trust – legislation introduced for new definition
- By Moore Stephens
- Published 28/05/2010
- Moore Property News , Moore Tax News
- Unrated
The Government introduced legislation into Parliament earlier this week
for the new Managed Investment Trust (MIT) definition that will apply to
both the capital account election reforms and the withholding tax
regime. The intention of the new definition is to expand the
application of the MIT regime to a wider range of managed funds. Unfortunately, it has not fully achieved this objective.
MIT – the new tax regime
- By Moore Stephens
- Published 7/05/2010
- Moore Property News
- Unrated
Australian fund managers welcomed the much anticipated announcement that
the Government will introduce an exclusive taxation regime that will
apply to the taxation of trusts that qualify as Managed Investment
Trusts (“MIT”). It is expected that the New MIT regime will remove the
longstanding uncertainty in the interaction of Australian tax and trust
law in the area of MITs.
Managed Investment Trusts – a uniform definition
- By Moore Stephens
- Published 3/05/2010
- Moore Property News
- Unrated
The Government has released an amended definition of a Managed
Investment Trust (MIT) for public consultation. The amended definition
will apply to both the capital election reforms and the withholding tax
regime.
Dishonourable Intentions! Does the intention of the purchaser determine the GST treatment of a property sale? Confusion reigns supreme!
- By Stephen Adrian
- Published 25/03/2010
- Moore Property News
- Unrated
Under section 40-65 the sale of residential premises is input taxed
but only to the extent that the property is residential premises “to be
used” predominantly for residential accommodation.
The meaning of “to be used” was debated in The Federal Court decision in Sunchen Pty Ltd vs Commissioner of Taxation [2010] FCA 21 (29 January 2010). It was held in that case that the future intention of the purchaser should determine the GST treatment of the sale.
The meaning of “to be used” was debated in The Federal Court decision in Sunchen Pty Ltd vs Commissioner of Taxation [2010] FCA 21 (29 January 2010). It was held in that case that the future intention of the purchaser should determine the GST treatment of the sale.
South Steyne Hotel Pty Ltd & Ors vs FC of T
- By Stephen O’Flynn
- Published 17/03/2010
- Moore Property News
- Unrated
The Full Federal Court handed down the decision of South Steyne Hotel Pty Ltd & Ors vs FC of T on 20 November 2009 confirming most of the previous judgement in relation to characterisation of supplies in relation to serviced apartments. For property developers, this is an important case as it details the Courts view on different types of supply by way of lease and sale of premises and the GST consequences. The decision generally coincides with the Commissioners views as expressed in GSTR 2000/20 regarding the sale and lease of commercial residential premises.
Capital account election for Managed Investment Trusts provides greater certainty
- By Moore Stephens
- Published 11/02/2010
- Moore Property News
- Unrated
South Steyne Hotel Pty Ltd & Ors vs FC of T
- By Stephen O’Flynn
- Published 15/12/2009
- Moore Property News
- Unrated
The Full Federal Court handed down the decision of South Steyne Hotel Pty Ltd & Ors vs FC of T on 20 November 2009 confirming most of the previous judgement in relation to characterisation of supplies in relation to serviced apartments. For property developers, this is an important case as it details the Courts view on different types of supply by way of lease and sale of premises and the GST consequences. The decision generally coincides with the Commissioners views as expressed in GSTR 2000/20 regarding the sale and lease of commercial residential premises.
Growth Areas Infrastructure Contribution Bill introduced
- By Tim Olynyk
- Published 16/11/2009
- Moore Property News
- Unrated
Property holders may soon be required to pay the Growth Areas
Infrastructure Contribution (GAIC) on certain property transactions
occurring in Melbourne’s growth areas.