We are delighted to invite you to our tax breakfast series, kicking off in Sydney on the 17th of May.

Whether it be mum and dad investors or more established SME operators, the property market can be a minefield of GST complications and unforseen income tax consequences. With the financial and time commitments that we see many of our clients undertaking in this space, it is crucial for them that they have the full support of their advisors with correct and pro-active advice from the outset.

With a focus on small to medium scale property development, there are important takeaways for advisors, whether it be a reconfiguration of a main residence block before sale or new investment with a view to undertaking construction activity. Dominic Moon (a special counsel in our tax team) will discuss the most common income tax, GST and duty issues that we see with clients who are looking to structure appropriately and to report their development activity correctly. In particular, we will focus on:

• GST joint ventures and partnerships (which one if either?)
• GST Margin scheme (some tips and traps)
• maintaining the benefit of the CGT main residence exemption, and
• income, capital or both – how can structuring play a role?

Kristan Conlon (partner in our Brisbane property group) and Eva Vicic (a special counsel in our Sydney property group) will run through the key elements of performing due diligence (DD) for new investment assets, both from a legal and accounting perspective, including scope and extent of DD enquiries, legal documentation for transaction structuring and exit options under legal documents for when things go wrong. Identifying and resolving DD issues early can mean the difference between the success and failure of what for many clients might be their first or only foray into this area. Having advisors that know what to look for can make all the difference.

We look forward to seeing you there.

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