Following 18 months of co-operative work, the ATO has agreed to assess GST on the net actual sale price of a village rather than the value of the village plus the value of the residents loans being assumed by the ingoing purchaser (the gross basis). The net basis will be valid for developers that rely on ATO Ruling 2004/9. The savings to the industry will be significant. Lachlan Wolfers of KPMG and Geoff Mann of Blake Dawson assisted the RVA in the negotiated outcome. Members of the RVA will be briefed on the benefits.
The Weekly SOURCE
Land lease operator GemLife launches on the ASX in the year’s biggest IPO
In just nine years, 37-year-old Adrian Puljich marked a huge milestone – celebrating with his family, residents, staff, the new board, legal teams and The Weekly SOURCE as he launched his business on the Australian Stock Exchange. “What...