Tax and duty issues for real property

Every adviser will, in some way or another, deal with real
property. When dealing with property, it is easy to forget the myriad of tax
consequences that can arise.
At the upcoming 2018 North Queensland Tax Symposium, Sally
Newman, CTA, looks at the tax issues, and uncovers some of the traps for
advisers in her session ‘ Tax and duty
issues for real property’
, and the follow-up workshop ‘ Restructure of an agribusiness’ which she previews here.
Sally told us, “The session on Tax and Duty Issues for Real
Property will focus on some tips and traps for advisers when dealing with
transactions with a real property element.  It is designed to provide
something of a practical checklist for advisers who might not specialise in
advising on tax and duty issues for property and who want an overview of some
of the twisty issues that come up in real property transactions. In the
workshop, delegates can expect to learn about the duty and tax issues involved
in a family agribusiness restructure, including accessing rollovers and the CGT
small business concessions.”
Looking at how the information presented will assist
clients, she said, “ The presentation
will make it easier for delegates to identify some of the perhaps unexpected
tax and duty issues that can arise when dealing with real property, and will
also assist with some practical solutions to these issues.  The workshop
will be practical and interactive, and will assist advisers to step through the
various options for obtaining tax and duty relief when restructuring an
At Sally Newman Consulting, Sally focuses on GST, stamp duty
and other state taxes, and advises on tax issues for business including in
respect of corporate restructuring and asset and business sales. Sally also
helps clients resolve tax disputes. Prior to starting her own firm in 2018,
Sally worked for over 12 years in MinterEllison’s Brisbane tax team. Sally also
provides tax advisory services with the Sydney Blueleaf Consulting group.
She said “My aim is to simplify difficult tax issues for my
clients.  My specialities are stamp duty and GST (particularly in the
property and resources sectors) and I also have broad experience across a range
of areas including tax considerations in estate planning and business
succession, tax issues in SME and large mergers and acquisitions, insolvency,
alternative dispute resolution, tax and duty issues for trusts and tax drafting
for contracts.  I have been listed in Doyles’ Guide as a Recommended
Lawyer for Tax (2015, 2016) and in Best Lawyers Australia for my trusts and
estates work (2016/2017, 2017/2018), and I was one of the Property Council of
Australia’s 100 Women in Property in 2017.”
Asked which other sessions at the symposium she is most
interested in attending, Sally told us “I am very much looking forward to the
panel session on ATO In House Facilitation. I think it’s a valuable
process, and understanding how best to access it and how to limit the issues at
stake will be very helpful.”
2018’s North Queensland Tax Symposium takes place 26 October
in Townsville.
This year’s program looks closely at duty affecting private
businesses. Practical and in focus, it looks at maximising the outcomes of
structuring and restructuring, transfer duty, managing division 7A, dealing
with real property and other crucial areas of tax law which will affect their
clients’ business objectives.
Find out more on our website.
Read the post from Rosalie Cattermole, CTA, (Cooper Grace
Ward Lawyers) on her session at the symposium ‘Transfer duty dealing with dutiable
property in Queensland’  here


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