6 P 6 PRO AN OP NN PER NUA RTY AL YD DAY Y

6TH AN
NN
NUA
AL
P
PRO
OP
PER
RTY
Y DAY
D Y
C
CPD hours
h s: 6 hrrs
FR
RIDAY
Y
15
5 FEB
BRUA
ARY 2
2013
INT
TERCO
ONTIN
NENTA
AL ADE
ELAIDE
E
120
0 NOR
RTH TERRAC
CE, AD
DELAIDE
9.0
00am-5.00pm
(reg
gistrattion fro
om 8.3
30am)
Register
Onliine
Saave tim
me, registerr onlinne
at ttaxinsstitutee.com
m.au
The Prop
perty Ta
ax land
dscape
e is con
nstantlyy evolvving, an
nd the practic
cal
cha
allenge
es and opporrtunitiess never stop.
espite the recent downturn
n in the
e prope
erty ma
arket, the eve
eryday
De
acttivities of prop
perty develop
d
pers, owners and in
nvestorrs continue to
o raise
diffficult isssues. At the
e same time, the
t pro
operty industrry conttinues to
t be
a fo
ocus a
area of the Au
ustralian Taxa
ation Office an
nd RevvenueS
SA, creating
eve
en morre pote
ential headaches. This
T fulll day Property
P
y Seminar will
bring together special
s
ists fro
om diffe
erent areas
a
o taxation to discus
of
d
s the
isssues an
nd prob
blems, and to
o offer practic
cal prop
perty solution
s
ns, usin
ng
casse stud
dies an
nd workked exxamples.
To
opicss







Unit T
Trusts - The Optima
O
al Vehic
cle for Proper
P
rty Acq
quisition
ns?
Land Tax – Lesson
ns learrnt from
m “Epic
c – Failss”
Incom
me Tax, CGT & GST
T – in th
he Rea
al World
d
Main Reside
ence an
nd CGT
Stamp Dutyy – “Here to Stay”
S
SMSF
F Synd
dication
n and Fundrai
F
ising - Bees Around
A
d the Honey
H
P
Pot
Curre
ent statte of play in SA
S Rea
al Estate Markket
Prresen
nterss
Proud
dly sponso
ored by:
Ma
atthew Andru
uchowyycz, CT
TA, Wa
allmanss
Leo
o Efthivvoulou
u, CTA, Cowe
ell Clark
ke
Ka
aren Grregor, CTA,
C
E
Edward
ds Marsshall
Sim
mon Ho
ow, CT
TA, KP
PMG
An
ndrea M
Melillo, CTA, Finlays
F
ons
Gre
eg Moulton, Harcou
H
urts SA
A Pty Ltd
L
Lissa Smitth, CTA
A, KPM
MG
Julie Van der Ve
elde, CTA,
C
Do
onaldsson Wa
alsh Law
wyers
taxin
nstitute.com
m.au
6TH ANNUAL PROPERTY DAY
Time
Session
8.30am–9.00am
Registration
9.00am –9.45am
Unit Trusts - The Optimal Vehicle for Property Acquisitions?
Presenter
Leo Efthivoulou, CTA
Cowell Clarke
This session will assess the various features of the modern unit trust for holding real
property and the typical tax and commercial issues that arise in practice when
capitalising, managing and restructuring unit trusts involved in property transactions.
Topics covered will include:
 Pros and cons of unit trusts against other acquisition vehicles - a re-think?
 Capitalise/borrowing at trustee or unit holder level?
 Managing UPE and Div 7A issues
 Accessing tax shelters from capital works and allowances
 SMSFs or discretionary trusts as unit holders - factors to consider
 Winding up - unit redemption vs capital distribution and vesting.
9.45am–10.30am
Land Tax – Lessons learnt from “Epic – Fails”
Andrea Melillo, CTA
Finlaysons
This practical session will:
• Cover the land tax rules relevant to property investors and developers particularly
how those rules can be applied to ensure clients do not unnecessarily pay increased
land tax
• Reflect on the lessons learnt from real life examples where clients and advisors have
missed opportunities or applied the Land Tax Act incorrectly and suffered negative
outcomes
• Reflect on any recent judicial decisions handed down and the attitude of
RevenueSA particularly in relation to compliance and structuring techniques
currently being utilised to minimise land tax.
10.30am–11.00am
Morning tea
11.00am–12.30pm
Income Tax, CGT & GST – in the Real World
Property investment and development raise the full spectrum of Income Tax, CGT and
GST issues. This session will review a number of the practical problems that all
practitioners need to be aware and consider, including:
Simon How, CTA
KPMG
Lisa Smith, CTA
KPMG
Income Tax & CGT
 We all know about the income/capital distinction but, in practice, when can
taxpayers claim capital treatment?
 Claiming the Div 152 small business concessions in connection with real property
developments?
 Joint venture issues (including using unit trusts to hold & develop real property)
 Capital works/depreciable assets/fixtures.
GST
 Development & refurbishment of residential premises
 Development for mixed use (commercial & residential)
 Going concern and margin scheme rules
 Implications of change in use (Div 129)
 GST for joint ventures.
12.30pm–1.15pm
Lunch
1.15pm–2.00pm
Main Residence and CGT
Everyone assumes that selling the main residence will be tax free. But it may not be!
There may be some nasty surprises. This practical session will use case studies to
discuss problems faced when applying the Main Residence Exemption in the following
areas:




2 – The Tax Institute
Subdividing the Family Home
Adjacent land – the two hectare rule
Deceased Estates, including Testamentry Trusts
Inherited Dwellings.
Karen Gregor, CTA
Edwards Marshall
6TH ANNUAL PROPERTY DAY
Time
Session
Presenter
2.00pm– 3.00pm
Stamp Duty – “Here to Stay”
Julie
Van der Velde, CTA
Donaldson Walsh
Lawyers
Stamp Duty continues to be a central consideration for clients and advisors planning for the
purchase or sale of land (or ‘land holding’ entities) including intergenerational transfers of
land.
This practical session will use examples and case studies to:
 Outline successful (and not so successful) applications of the stamp duty rules and
exemptions for:
1. Purchases of land and ‘land holding’ entities
2. Restructures involving ‘land holding’ entities
3. Transferring land from one generation to the next
 Reflect on the lessons learnt from the Pharmos decision recently handed down by the
South Australian Supreme Court
 Consider potential applications of Part 6A of the Taxation Administration Act (Tax
Avoidance Schemes).
3.00pm–3.15pm
Afternoon tea
3.15pm–4.00pm
SMSF Syndication and Fundraising - Bees Around the Honey Pot
The business sector is increasingly looking to the $460 Billion in SMSFs to finance projects,
ventures and acquisitions. This session covers the practical, legal and taxation ramifications
of SMSF participation in joint ventures, property syndications and managed investment
schemes. This session will include useful case studies with a focus on real property
acquisitions / developments.
 Acceptable investment vehicles
 Corporations Act compliance issues, managed investment schemes, responsible entity,
retail / wholesale client distinction, licensing / disclosure requirements
 Material contracts / agreements
 Considerations regarding development / borrowing / third party service provision
 SIS Act compliance issues, in-house asset standard, uncommercial dealings, non-arm’s
length income
 SMSF borrowing to fund equity participation.
4.00pm–4.30pm
Current state of play in SA Real Estate Market
Greg Moulton the CEO of Harcourts and President of the Real Estate Institute of South
Australia will provide an insight on the economic outlook of the property sector. He will
address the current state of the property market, its impact on property investors and an
outlook to the future.
4.30pm
Matthew
Andruchowycz, CTA
Wallmans
Greg Moulton,
CEO Harcourts SA
Networking Drinks
PRESENTER PROFILES
Matthew Andruchowycz, CTA is a Senior Associate with Wallmans Lawyers
practising in both the Taxation and Superannuation team and in the Business and
Commercial team, providing specialist taxation, superannuation and commercial
advice to individuals, companies, trusts, estates, superannuation funds, businesses
and the corporate sector generally. Matthew is a member of the Tax Institute's SA
Membership Services and 2013 State Convention Committees.
Leo Efthivoulou, CTA is an Associate at Cowell Clarke Commercial Lawyer working in
their Tax and Revenue Group. Leo has experience in advising on tax and commercial
issues relating to property transactions. His experience extends to tax advisory and
general commercial transactions. Leo is also a Chartered Accountant having
previously worked at a Big 4 accounting firm.
Karen Gregor, CTA commenced with Edwards Marshall in 2000 and was promoted
to Senior Manager in the Business Services division in July 2010. She has over
fifteen years' experience in the provision of taxation and accounting services to small
and medium sized businesses and professional clients.
Simon How, CTA is a Senior Manager in Corporate Tax at KPMG. Simon has over
15 years experience in advising a wide range of clients through KPMG and previously
through at the ATO and a mid-tier chartered firm. Simon has a particular interest in
private group tax issues, international transactions and property related tax issues.
Simon’s current client base includes clients in the financial services, consumer
markets, energy and property sectors and ranges from medium sized privately-held
groups to large listed corporates.
Andrea Melillo, CTA is a Partner in the Tax and Revenue Group at Finlaysons and
brings over 15 years of expertise in tax law to the team. She advises on income tax,
trusts, capital gains tax (CGT), superannuation and state taxes for a diverse range of
clients from publicly listed companies to not-for-profit organisations. Also
experienced in commercial matters, Andrea acts for clients in restructures,
acquisitions, disposals and mergers. She specialises in SME tax issues and has
expertise in business succession planning, estate planning and asset protection,
particularly for high net worth individuals.
3 - The Tax Institute
Greg Moulton, is a management professional with considerable real estate and
leadership experience, over the past several years Greg has built a full range of
complementary skills professionally and academically. He has extensive experience
in leadership positions – particularly within service industries, sports management
and marketing. He lists people management and communication as two core
strengths, and exudes an ‘open door’ policy in his work life.
Currently the CEO of Harcourts Real Estate in South Australia, President of the Real
Estate Institute of South Australia and a Director of the Adelaide Football Club Board,
Greg also actively works with the leadership teams of the Norwood Football Club,
Loan Avenue and Clear Property Investment Specialists.
Lisa Smith, CTA is a Director of Indirect Taxes, at KPMG where she specialises in
GST. Lisa has worked in the Australian and Kenyan markets where she has gained
extensive experience in advising clients, both private and government, on the impact
of GST. Lisa has specific experience in assisting clients to apply complex GST
provisions to meet their compliance obligations while structuring their affairs in an
efficient manner to minimise costs and maximise project returns. Her experience
extends to advising Australian and foreign-owned entities in a wide range of
industries including, property, mining, financial services, retail, telecommunications,
education, tourism, not-for-profit, automotive, pharmaceutical and manufacturing.
Julie Van der Velde, CTA is a Senior Associate with Donaldson Walsh Lawyers,
having joined the firm as part of its merger with the boutique tax and commercial
practice of Campbell Rankine. Qualified both as an accountant and lawyer, she has
practised in both professions and has also taught both accountancy and taxation law
at tertiary level. Julie specialises in taxation law, with a focus on trust taxation,
superannuation and succession for SME business. Julie works with both State and
Federal taxation legislation and has over 14 years experience in structuring and
restructuring business entities and transactions to ensure commercial and tax
efficient business structures. She has extensive experience in matters involving
intergenerational transition and succession issues.
6th Annual Property Day – SA Division
5130201M1/WD
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