Commissioner's Small Business Consultative Group minutes, 1 December 2011

4. ATO Property web page and tool

James O'Halloran, Deputy Commissioner Indirect Tax provided members with an overview of the ATO's recently launched property web page where taxpayers and businesses can easily access property information in one location.

James explained that the web page was developed as part of the ATO's ongoing effort to improve taxpayers' understanding of their obligations relating to property transactions. It provides practical guidance and easy access to all the ATO's property-related information.

The ATO's property page outlines information on property topics including:

income tax
capital gains tax
goods and services tax
residential rental properties
property used in running a business
property development
building and renovating.

In conjunction with the web page the ATO has also developed an internet-based goods and services tax property tool that was demonstrated to members by John Lumley, Senior Director Indirect Tax. The tool is designed to help determine the goods and services tax implications for property-related transactions. It is an interactive decision-making tool based on a series of questions and answers. The topics covered within the tool include:

sale, lease or purchase of real property, including

residential premises
commercial residential premises
commercial premises
vacant land

claiming goods and services tax credits
margin scheme eligibility
goods and services tax free supplies of real property.

The Commissioner commented that it would be beneficial for messages about practical guidance and assistance from the ATO, such as the property web page and tool, to be incorporated into the natural systems of small business and industry associations.

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Last Modified: Friday, 17 February 2012