Beyond the numbers with Grant Thornton: Listen now
In this edition we look at the recent tribunal decision affecting retirement villages, the transfer duty and land tax reforms affecting foreign property investors and the impact that technology is having on the industry. We also sit down with Mr Peng Hong Wong, developer of Melbourne’s fastest selling new development, Woodlea.
The Australian Real Estate & Construction industry continues to be a cornerstone of the local economy, encouraging innovation and new development across the country.
Those looking to apply an outputs-based method to recover input tax credits will have kept a keen eye on the outcome of RSPG v Commissioner of Taxation [2016] AATA 687 concerning the recovery of input tax credits from the construction of a retirement village.
Many of the States have recently been moving away from subjecting the transfer of business assets that are not real property to transfer duty.
A conversation with Mr Peng Hong Wong, Executive Director of Victorian Investments & Properties Pty Ltd (VIP), developer of Melbourne’s fastest selling new development: Woodlea.
Today’s global environment is marked by uncertainty, complexity and swift change. Businesses that have shaken-up their industries, either through innovative products and services or by streamlining systems and processes are proving to be the winners. Driving this creative storm is technology. A recent Grant Thornton survey shows a clear correlation between accelerated growth for mid-size businesses and the smart use of technology in a range of sectors.
The Supreme Court of Victoria has found that GST was not to be added to the purchase price payable under a contract of sale in the case of A&A Property Developers Pty Ltd v MCCA Asset Management Ltd [2016] VSC 643.
Read our update on the latest developments for the industry per state.
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