Real Estate & Construction November newsletter

23 Nov 2016

Welcome to our last industry newsletter for 2016.

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.

A message from our Global Head of Real Estate & Construction

The Australian Real Estate & Construction industry continues to be a cornerstone of the local economy, encouraging innovation and new development across the country.

Calculating the GST you can claim: Tribunal decision affecting retirement villages

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.

Transfer duty and land tax reforms affecting foreign property investors

Many of the States have recently been moving away from subjecting the transfer of business assets that are not real property to transfer duty.

Melbourne’s fastest selling new development, Woodlea

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.

The impact of technology on construction materials & techniques

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.

Supreme Court Case highlights the importance of getting the GST clauses right in contracts

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.