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Compliance audits & reviews
Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
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| 3 min read | 19 Mar 2024

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Insight Australia's taxation system needs efficiency and simplicity

While tax reform has been widely discussed throughout the political landscape since the Henry Tax Review was released 14 years ago, it is becoming an increasingly emphasised in recent years due to questions around the efficiency of the Australian taxation system, particularly in relation to the heavy reliance on personal income taxes and the sustainability around this for the future.

Vince Tropiano

| 4 min read | 24 Apr 2024

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The Aged Care Taskforce (ACTF) has released its final report. Its clear focus is on improving sustainability and ensuring fairness. The final report described twelve funding principles which fall into the categories of supporting older people as they age, equitable and sustainable funding, quality innovation, and transparency.

Darrell Price

| 8 min read | 15 Mar 2024

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Understanding whether a transaction is based upon 'market value’ can be an integral component of an engagement in which a business valuer is appointed to opine upon.

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| 3 min read | 22 Apr 2024

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Navigating the funding landscape can be tricky for biotech companies at all stages, from initial research and clinical trials to scaling up capabilities. Our recent roundtable discussions with over 90 Biotech CEOs, held in partnership with AusBiotech, shed light on the challenges and opportunities shaping the industry.

| 5 min read | 02 Apr 2024

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Asset tracing investigations
Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.

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Restructuring and turnaround

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Independent business reviews
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Safe Harbour advisory
Our Safe Harbour advisory helps directors address requirements for Safe Harbour protection and business turnaround.
Corporate simplification
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
Director advisory services
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
Debt advisory
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.

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Business services

We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and...

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Business planning & strategy
Our clients can access business planning and strategy advice through our value add business strategy sessions.
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We provide company secretarial services and expert advice for private businesses on all company secretarial matters.
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We act as a third-party partner to international businesses looking to invest in Australia on your day-to-day finance and accounting needs.
Superannuation and SMSF
We provide SMSF advisory services across all aspects of superannuation and associated tax laws to help you protect and grow your wealth.
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We help you build comprehensive management reporting so that you have key insights as your business grows and changes.
Financial reporting
We help with all financial reporting needs, including set up, scaling up, spotting issues and improving efficiency.
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We help you build and maintain a business forecasting and budgeting model for ongoing insights about your business.
ATO audit support
Our team of experts provide ATO audit support across the whole process to ensure ATO requirements are met.
Family business consulting
Our family business consulting team works with family businesses on running their businesses for continued future success.
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We help private business leaders efficiently structure their organisation for optimal operation and tax compliance.
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Our outsourced CFO services provide a full suite of CFO, tax and finance services and advice to help clients manage risk, optimise operations and grow.

Environmental, Social and Governance (ESG)

Having a considered and informed ESG response has never been more important for all organisations as we are seeing awareness of the elements of ESG continue to...

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ESG & sustainability reporting
There is a growing demand for organisations to provide transparency on their commitment to sustainability and disclosure of the nonfinancial impacts of their business activities. Commonly, the responsibility for sustainability and ESG reporting is landing with CFOs and finance teams, requiring a reassessment of a range of reporting processes and controls.
ESG & sustainability advisory
With the ESG and sustainability landscape continuing to evolve, we are focussed on helping your business to understand what ESG and sustainability represents and the opportunities and challenges it can provide.

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Consulting

Our consulting team supports its clients with hands-on and proactive advice on all aspects of their strategies for sustainable growth.

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Management consulting
Our management consulting services team helps you to plan and implement the right strategy to deliver sustainable growth.
Financial consulting
We provide financial consulting services to keep your business running so you focus on your clients and reaching strategic goals.

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Indigenous advisory

We take a full view of Indigenous-specific requirements and optimisation opportunities available to businesses.

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Asia

The growth gateway

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China practice
The investment opportunities between Australia and China are well established yet, in recent years, have also diversified.
Japan practice
The trading partnership between Japan and Australia is long-standing and increasingly important to both countries’ economies.
India practice
It’s an exciting time for Indian and Australian businesses looking to each jurisdiction as part of their growth ambitions.
Singapore practice
Our Singapore Practice works alongside Singaporean companies to achieve growth through investment and market expansion into Australia.

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Industries

Agribusiness, Food & Beverage

Supporting the growth of ‘Australian Made’ in today’s markets

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Energy & Resources

From an active natural resources M&A market, a growing energy and renewable energy market, to new technologies and export and trade agreements – we have the...

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Renewable Energy
Transformation through energy transition

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Business Planning and Strategy
Having an honest, broad-reaching and thought-provoking discussion with a skilled, independent advisor can be the catalyst for clarity – a direction to take your business forward and an understanding of what is key to success.

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Client Alert

Maximising GST refunds for retirement village operators

By:

Anika Reside

08 Jun 20232 min read

As an operator of a retirement village, you may be missing out on significant GST refunds.

Contents

Operators of retirement villages are typically unable to recover the GST incurred on acquisitions relating to the development and operation of the retirement village. Despite these general rules, there are certain circumstances where retirement village operators may be able to recover all GST incurred on the development and operation of the retirement village.

For these purposes, it is important to note that a retirement village is:

accommodation intended for people at least 55 or older; and
has communal facilities for the residents to use.

Unlocking the opportunity

Ordinarily, providing accommodation in a retirement village is considered an input taxed supply of residential accommodation. This GST classification restricts the ability of retirement village operators to recover GST on acquisitions related to the development of the retirement village, such as land, materials, construction, and other development fees. Additionally, the recovery of GST is also denied on acquisitions relating to the provision of retirement village accommodation and certain services.

Despite this, there are circumstances where the supply of retirement villages accommodation is GST-free, resulting in entitlement to full GST credits on acquisitions relating to the development or operation of the retirement village. This may arise where:

You are an endorsed charity that operates a retirement village and make supplies to residents of the retirement village (including accommodation); or
You are an endorsed charity that makes supplies for “nominal consideration” of less than 75%, or less that 50%, (depending on what is being supplied); or
You supply a serviced apartment in a retirement village to a resident who needs help with daily living activities or nursing services.

Understanding the GST rules and how they apply to retirement villages can be complex. If you would like assistance to determine how you should be treating your supply of retirement villages for GST purposes and unlock potential refunds, our GST specialists are happy to support you.

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Maximising GST refunds for retirement village operators

Unlocking the opportunity

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