RSM Australia

Property and construction

property and constructionThe property and construction industry in Australia is a significant driver of the nation’s economy and in many respects is a thermometer of the financial health of the country. 

The sector plays a vital part in shaping the country and rest of the world.

It is one of this country’s most important sectors, particularly in the way it exerts major influence over other industries including manufacturing, wholesale and retail trade and finance industries in supplying components, fittings and furnishings as well as parts of the architectural and engineering professions for their design and erection methods.


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Our team of advisors to the property and construction industry are recognised for their extensive experience in the sector. Our experience within the industry includes residential, commercial and industrial construction, property development, property investment and commercial and retail property management.

We have relationships with industry bodies which allows us to stay in tune with the issues affecting the constantly evolving environment that our clients operate in.

GST on residential premises - legislation delayed

The Bill containing the legislation dealing with GST on property transactions will not be introduced into parliament until the autumn parliamentary sittings at the earliest, but it is our understanding that there is no change to the commencement date for the new regime, which remains 1 July 2018.
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New GST Legislation released - Developers and Home Builders beware

On 6 November 2017, Treasury published an Exposure Draft of legislation that will require purchasers of new residential premises and lots in new residential subdivisions to pay an amount equal 1/11th of the
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Long-term construction contract ruling | Draft ruling issued

In 1987, Aretha Franklin finally got the respect she deserved by being the first woman inducted into the Rock ‘N’ Roll Hall of Fame. Also that same year, the Australian Taxation Office (ATO) released Income Tax Ruling IT 2450 to determine how to return income and recognise expenses on long-term construction contracts.
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New 12.5 percent withholding tax on property transactions

To ensure Australia captures as much tax as possible from property transactions a new withholding tax has been introduced and will apply to contracts entered into on or after 1 July 2017. Under the new provisions where a foreign resident disposes of:
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Non-resident? Understand the new NSW property taxes that could affect you

If you are a ‘foreign person’, you may now find yourself subject to two additional surcharges recently introduced in NSW regarding residential land and real estate purchased and owned. The two new surcharges include:
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Industry snapshot - Property Development

A snapshot of the key statistics and current industry performance in the residental housing property development sector.
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Concern over complacency on new revenue standard

With virtually every industry set to be affected, companies should be doing more to prepare for new rules on how revenue is recognised, according to accounting firm RSM Australia (RSM).
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Budget 2016 - Property & Construction

Key announcements No changes to negative gearing as expected.  National Infrastructure Plan – the Government reaffirmed its commitment to invest $50 billion in infrastructure in relation to various projects across the States and Territories.
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Tips to improve your cash flow

The start of the new year provides small businesses with the perfect opportunity to improve their credit management and cash flow conversion cycle. Here are some tips for improving your credit management and cash flow in 2016:
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Secured creditor’s right of subrogation confirmed

A recent decision in the Federal Court has confirmed that when a secured creditor has paid outstanding employee entitlements from the realisation of circulating assets, they have the right to subrogate into the position of employees and receive any dividends paid.
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