Property transactions are one of the most common and significant dealings forming a large part of just about every Federal and State tax base. This course examines all income tax, CGT, GST, land tax and stamp duty consequences of acquiring, holding, developing, building on, leasing, disposing of or otherwise dealing with land and buildings, including various real property investment options.

After introducing some broad property law concepts to assist in understanding, it examines the specific application of each taxing regime to property transactions. Income tax considerations dealt with include property sale or development whether one-off or as part of a business, income recognition, derivation of rent, lease incentives, building cost write-offs, depreciable property in buildings, home offices, other deductions and financing considerations. Property trust investments and structuring are examined. CGT and GST as they apply to freehold, leasehold, residential and commercial property are considered, including concessions or exemptions such as the CGT main residence exemption and GST going concern, margin scheme and commercial residential premises accommodation rules. State taxes such as stamp duty and land tax are covered, including their many special rules and exemptions.

Recommended Prior Knowledge

• TABL5523 Principles of Goods and Services Law
• TABL5515 Taxation of Capital Gains

Students without this prior knowledge may find that they need to take steps to ensure adequate understanding of the related area. Note: as some areas of tax law are interrelated in some courses, we recommend that students either have prior knowledge of the related area or study another course in that area concurrently.