Property

Property & Real Estate

Cambrian Hill Accounting Ballarat has experience in offering Accounting and Tax services to Individuals and Businesses in the Property & Real Estate Industry.

Many clients invest in residential and commercial properties to expand their portfolios.  It is important to consider the structure that will hold the property prior to the purchase as it will impact the availability of the CGT discount, negative gearing losses and land tax levied.  

A property development may be classified in one of three categories for tax purposes: a property development business, a profit-making scheme or the mere realisation of a capital asset.  Each classification has a different tax outcome for any proceeds received.

There are also GST implications when developing a property.  The GST treatment can depend on a number of factors such as: an isolated property transaction, a new residential premises, the length of time the property is held and whether the margin scheme is applicable.