Planning on Developing Property?

Did you know that if you build and sell new residential premises you pay GST on the sale? And you can generally claim GST credits for your construction costs and purchases related to the sale.

We are identifying and contacting developers early on in the planning process to help you understand your GST entitlements and responsibilities.

When a new development starts we sometimes verify significant refund claims. We may do this if you:

  • lodge a BAS without reporting property transactions, or
  • have an outstanding BAS.

If you haven’t lodged your BAS we’ll remind you so you don’t get behind. When we do this we can assist you with any questions you may have.

If you need advice from the ATO about the tax treatment of your development you can lodge a request for a private binding ruling.

Property development, building and renovating

If you’re renovating one or more properties you need to work out if you are a personal property investor, engaged in a profit-making activity of property renovations, or carrying on a business of renovating properties.

If you build new residential premises for sale, you’re liable for GST on the sale, and you can generally claim GST credits for your construction costs and purchases related to the sale.

Register of Private Binding Rulings

We publish edited versions of written binding advice in the Register of Private Binding Rulings.

This enhances the integrity and transparency of the private ruling system and confirms for the recipient that it is official ATO advice. The advice is edited to protect the secrecy and privacy of the applicant.

Status of versions published in the Register

The edited versions of written binding advice published in the Register can’t be relied on by taxpayers or their advisers in any way. They can’t be relied upon as precedent or used for determining how the ATO will apply the law. The records in this Register are not binding and provide no protection.

For more information on myTax 2019, online tax return 2019, myGov 2019, Tax Return 2019 , or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at

Investment Property Tax Deductions

This is a brisk check rundown of deductions for property speculators to assert against the salary (or potential wage) from the leasing of property. It is a guide, not a thorough rundown, there are comprehensively two sorts of rental expense conclusion accessible:

Findings accessible under expense arrangements –, for example, Capital Allowances; and general findings which require that there is an association between the cost and the acquiring of rental salary, changed in accordance with prohibit any capital, private or non-deductible parts

Financial plan 2017 – travel and devaluation costs diminished, and a charge for remote proprietors

Emerging from 2017 spending measures declarations, the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 gives that: travel consumption brought about in procuring salary from private premises isn’t deductible and can’t shape some portion of the cost base of the property for CGT purposes.

Deterioration reasonings to be not any more accessible for ‘already utilized’ devaluing resources utilized as a part of winning salary from private premises utilized for private settlement – applies for resources procured from 9 May 2017

Prohibitions: corporate duty substances, superannuation designs (other than SMSFs), open unit trusts, oversaw venture trusts and unit trusts or organizations of any of the above elements the un-deducted devaluation is perceived for CGT purposes

A yearly opportunity expense will apply to remote proprietors of private land where private property isn’t possessed or truly accessible on the rental market for no less than a half year in a year period.  The charge will apply from 7:30PM (AEST) on 9 May 2017.The expense is what was payable at the season of the outside venture application.

Deductibility of costs extensively relies upon whether there is a required association between the cost, and a benefit making reason, for this situation rental. Circumstances where an investment property is utilized for part of the year for private purposes by and large require that claimable costs are allocated to the period(s) for which the property was leased, or truly accessible for lease. The conditions of occasion houses in such manner are examined here.

For more information on Etax, myTax ATO, myGov and online tax return, please contact us at 1300 768 284 or you can email us at