Property and Construction Services & Support

Rapid Antigen Tests – Tax deductibility myths debunked

4 January 2022

Prime Minister Scott Morrison has told the media in recent days that rapid antigen tests (RATs) for COVID-19 are 'tax deductible'.

Rapid Antigen Tests – Tax deductibility myths debunked

Modern Manufacturing Initiative (MMI) | Round 2 (Integration)

13 December 2021

Jessica Olivier, Steve Elias

Integration Stream - Round 2 The Modern Manufacturing Initiative (MMI) is a $1.3 billion initiative targeted at all businesses growing Australia’s Manufacturing capacity, building scale, and supply chain resilience.

Modern Manufacturing Initiative (MMI) | Round 2 (Integration)

Protecting subcontractors against rising insolvency in construction

2 December 2021

With established builders entering external administration despite a construction boom, what does this mean for your subcontracting business? Here are a few things you thought you’d never hear: People fighting in supermarkets for toilet paper

Protecting subcontractors against rising insolvency in construction

Protect the future of your business with security certification

2 December 2021

Riaan Bronkhorst

Cybersecurity is a real risk and one that needs to be considered and managed effectively in order to protect the future of your business.

Protect the future of your business with security certification

5 pressures for construction companies in the lead up to Christmas

15 November 2021

Andrew Fernance, Jonathon Colbran

As construction businesses start to emerge from recent lockdowns, ASIC has reported that insolvency activity is up 21% in the period to September 2021 compared to the same time last year. Here are 5 pressure points to be wary of as we round out 2021 if your construction company is struggling, or has more work than you can handle.

How to structure a Property Development Business

4 November 2021

Adam Crowley

Most business owners understand the main types of entities that can be set up to operate a business, such as: sole trader, company, trust and partnership.

RSM extends corporate tax practice with appointment of experienced new Partner

29 October 2021

Carl Di Lorenzo

RSM has announced the appointment of Carl Di Lorenzo as a new Partner in the firm’s tax services division based in Perth.

Victorian Windfall Gains Tax – A material new tax obligation for Victorian Land Developers

26 October 2021

Simon Aitken

The Victorian Government introduced the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 that, among other amendments, will impose a significant new tax on unrealised gains arising from the rezoning of land in Victoria.

Support for the Victorian Building Industry

11 October 2021

Michael Watkins

With the Victorian Building Industry re-opening this week following its two week COVID shutdown, the Victorian State Government has recently announced a support package for affected businesses in the form of one-off cash grants.

How property developers can streamline their operations

2 September 2021

Adam Crowley, Brynt Moggach, Laurel Grey

Have you ever found yourself thinking, “There must be a more efficient way to do this!”. Or, “Why aren’t my systems smart enough to manage all of this for me?”

5 Essential Tips for Property and Construction Startups

10 August 2021

Adam Crowley

For those who venture into the property and construction space, launching a new business can be both exciting and incredibly daunting. While all new businesses carry risks, failure rates for construction businesses are among the highest of any industry in Australia.

Small business COVID-19 support grant for VIC

2 August 2021

Murray Calder

The Victor

5 tips to manage cashflow in a property or construction business

15 June 2021

Cameron Hume, Ralph Martin

The property market is booming, and both the property and construction sectors have had a terrific run over the past several decades.

5 tips to manage cashflow in a property or construction business

Victorian State Budget 2021-22 | Property & Construction announcements

21 May 2021

Michael Watkins, Simon Aitken

The Victorian Government released its 2021-22 budget on 20 May 2021.

VIC State Budget 2021 Property & Constructions announcements

Rebuilding after COVID-19: Small business restructuring in the property sector

12 March 2021

Richard Stone, Tim Gumbleton FCA

Are you a sub-contractor operating in the property sector and struggling with too much debt? Are you owed money by small-to-medium enterprise (SME) businesses that cannot get their accounts up to date?

Case Study: Macrolink

1 February 2021

Adam Crowley

Founded in the early 1990s, Macrolink Group (Macrolink) is a privately owned Chinese based multi-business group. With eight (8) separate business arms operating under Macrolink, the group has a diverse portfolio across a range of industries including mining, energy, engineering, property and construction, tourism and financial services.

Case study: Woodlea

3 December 2020

Patrick McMaster

Woodlea has had a clear goal for the last seven years: as a fully integrated master planned community, provide people in the west of Melbourne with wonderful, affordable homes, along with opportunities like employment, education, retail, commercial, and community services. THE CHALLENGE

Case study: Fidem Property Group

19 November 2020

Adam Crowley

Fidem Property Group (Fidem) is a medium-sized property and construction company based in Sydney. Founded in 2009, Fidem delivered a variety of projects in the North-Western corridor of Sydney before establishing a dedicated construction arm in 2017 working with private and commercial clients. Emmanuel Ghobrial, Fidem’s Development Manager, started the business with his brother Michael to leverage each of their unique skillsets and build upon their experience within the sector.

Five questions to ask before an SMSF property development

30 October 2020

Katie Timms

With rapidly declining rental vacancies and lower numbers of properties for sale in Western Australia, property is once again becoming a topic of interest, and the ever-popular question is coming up once again:

Five questions to ask BEFORE a SMSF property development

Structuring your property investment to suit your needs

30 October 2020

Rhys Edwards

One of the most important steps when taking the plunge into property investment is also one of the most overlooked parts of the process. Making sure your investment is set up in the correct structure from the beginning can ensure that serious, and expensive, ramifications are avoided down the track.

NSW land tax surcharges for foreign persons

29 October 2020

Adam Crowley, Sam Mohammad

Under current legislation, ‘foreign persons’ that acquire or own residential land in NSW may be subject to surcharge purchaser duty (additional 8%) and ongoing surcharge land tax (additional 2%).

LRBA & property improvements

12 October 2020

Lauren Scoble

Since the rules around SMSFs and borrowings were confirmed in 2012, using superannuation to borrow and buy a property has remained a steady investment choice for many.

Rental properties: An ATO hotspot

24 September 2020

Nathan Walter

Rental properties are a great investment to help build off farm assets, which can be used later in life as part of a great succession plan. In the meantime, you can enjoy earning a bit of off farm income and perhaps claiming a few deductions along the way, but it’s important to know what you can claim and how much you can claim.

Victorian government business survival and adaptation package

15 September 2020

Michael Watkins

Following the release of its Roadmap to ‘COVID Normal’ on 6 September 2020, the Victorian Government recently announced $3 bn of financial support for Victorian Businesses.

Rental property FAQ's and common issues tackled

17 August 2020

Mark Sissoev

During these uncertain times of COVID-19, some clients have used the time to assess their finances and plans for the future.

Rental property FAQ's and common issues tackled

Queensland foreign owner land tax surcharge: Ex gratia relief guidelines

20 July 2020

Sam Mohammad

In last year’s State Budget, the Queensland Government unexpectedly announced an immediate 2% surcharge on the Queensland land tax liabilities of foreign companies and trustees of foreign trusts (collectively, “foreign owners”).

Queensland may offer you ex gratia relief from a land tax liability.

WA Building Bonus Scheme

22 June 2020

David Collins

With the release of the HomeBuilder program nationally, the WA State Government has announced its own separate support package for the home building industry with the announcement of its WA Building Bonus Scheme and the extension of its single-tier strata scheme.

Are you eligible for the new HomeBuilder program?

10 June 2020

Adam Crowley

In an effort to support jobs in the residential construction sector, Scott Morrison has recently announced the introduction of the new HomeBuilder program.

Scott Morrison has recently announced the introduction of the new HomeBuilder program.

Property and Development Series

5 June 2020

Adam Crowley

WA State Government relief for commercial tenants and landlords

6 May 2020

Financial Relief – WA Commercial Tenants and Landlords

WA State Government relief for the building and construction industry

6 May 2020

Support Package – Building and Construction Industry A $154.5m relief package to support tenants, landlords and the construction industry has been announced, of which the WA Government has set aside $24.5m for the construction workforce.

WA State Government relief for residential tenants and landlords

6 May 2020

Financial Relief – WA Residential Tenants and Landlords

JobKeeper – Service entities, schemes and more complex rules

5 May 2020

Tracey Dunn

The legislative instrument setting out the modified rules for service entities, among other things, was registered by Treasury late in the evening on Friday 1 May 2020.

Land tax relief for landlords and tenants

30 April 2020

Sam Mohammad

Land tax relief for landlords and tenants following the release of the Mandatory Code of Conduct The National Cabinet recently signed off on the Mandatory Code of Conduct (“the Code”) for commercial landlords and tenants, which included a set of “good faith leasing principles”.

Land tax relief for landlords and tenants has just been released

Issues with NSW Stamp Duty

21 April 2020

Adam Crowley

Having surveyed those in the property development industry for many years, the only thing that developers seem to dislike more than paying stamp duty, is paying stamp duty twice on the same property.

Assisting commercial tenants with the impact of COVID-19

21 April 2020

Adam Crowley

With the recent release of the Mandatory Code of Conduct (the Code) governing commercial leasing arrangements, landlords and their tenants are required to engage in good faith negotiations in respect of rental reductions in the form of waivers and deferrals to help mitigate the financial stress and hardship s

Assisting commercial landlords with the impact of COVID-19

21 April 2020

Adam Crowley

With the recent release of the Mandatory Code of Conduct (the Code) governing commercial leasing arrangements, landlords and their tenants are required to engage in good-faith negotiations in respect of rental reductions in the form of rent waivers and deferrals to help mitigate the financial stress and hardsh

Rent relief for commercial tenants and detailed information for landlords

9 April 2020

Adam Crowley

The National Cabinet has recently released its Mandatory Code of Conduct (the Code) for landlords and commercial tenants in response to COVID-19.

Rent relief for commercial tenants and detailed information for landlords

Dealing with GST

8 April 2020

Adam Crowley

For most businesses operating in Australia, GST is fairly straight forward. As many of our clients are quick to remind us, ‘you just add 10%.'

The “Proportionality Principle” for landlords and commercial tenants

7 April 2020

Adam Crowley

In an announcement on 7 April 2020, Scott Morrison provided detail concerning the mandatory code of practice for landlords and commercial tenants in response to COVID-19.

Economic impact of COVID-19 on the Property and Construction sector

16 March 2020

Adam Crowley

The construction sector is expected to face significant difficulties sourcing construction materials, primarily based in China, and other parts of Asia due to the outbreak of the Coronavirus (COVID-19).

Economic impact of COVID-19 on the Property and Construction sector

Beware of purchasing Victorian residential land in a trust

10 February 2020

Simon Aitken

The Victorian Duties Act 2000 imposes a stamp duty surcharge of 8% on the acquisition of Victorian residential property by a foreign purchaser. This surcharge brings the top stamp duty rate to 13.5%.

How to structure property development?

8 January 2020

Adam Crowley

Typically, property developers will aim to structure a property development with one of three desired outcomes in mind...

TPAR - Contractor Reporting Obligations

6 December 2019

Starting 1 July 2019, businesses who provide road freight, IT or security, investigation or surveillance services, and who pay contractors to provide those services on their behalf, will need to lodge a Taxable Payments Annual Report (TPAR).

Deductibility of labour costs related to the construction or creation of assets

4 December 2019

Simon Aitken

Draft Tax Ruling TR 2019/D6 explains the Commissioner’s views as to when labour costs relating to the construction or creation of an asset is deductible for tax purposes under section 8-1 of the Income Tax Assessment Act 1997 (Tax Act).

What happens to property you may own in the event of your death?

9 October 2019

Kian Ghahramani

You know the saying, there are two certainties in life: death and taxes and I'm going to be covering both of those. This article highlights what happens to property you may own or control on your death.

Negative Gearing of Vacant Land - is this the beginning of the end?

6 September 2019

Tracey Dunn

The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 was introduced to Parliament on 24 July 2019. One significant measure of the Bill is the introduction of proposed legislation to limit deductions for losses or outgoings incurred in relation to holding vacant land.

Land Development Agreements - The net widens

18 July 2019

Simon Aitken

The Victorian Duties Act 2000 contains provisions that can apply to Land Development Agreements that have been broadened since the recent enactment of the State Taxation Acts Amendments Act 2019 on 18 June 2019.

How legal structures have a far-reaching impact on your property development

9 July 2019

Adam Crowley

Determining the best structure for your property development can get complex.

Case study: Rise Group (Rise Projects and Rise Products)

21 June 2019

Adam Crowley

Rise Group is a property development and construction company with a strong background in delivering high-quality projects across New South Wales and Queensland.

Case study: Jotown International

30 May 2019

Adam Crowley

Consistent, stable growth at a healthy pace is Jotown International’s priority and focus.

Revenue recognition in construction industry

26 November 2018

The adoption date for AASB 15 Revenue from Contracts with Customers is for financial periods beginning on or after 1 January 2018. With 31 December 2018 year end fast approaching, have you ensured your revenue accounting is in accordance with the new standard?

Payment of employee bonuses

19 September 2018

Recognising the hard work of employees is important to ensure morale remains high in the workplace and that quality workers are retained in your business. One of the easiest ways to reward employee excellence is through the payment of employee bonuses.

Case study: Dial Before You Dig

29 June 2018

"What I like about RSM is that they are a really easy company to deal with and they’ve taken the time to understand our business and their breadth of expertise across the country and they’ve really made our life a lot easier". Ben Howell, Chief Executive Officer

Case study: Rilow Property Group

27 June 2018

Adam Crowley

In less than 10 years, founder of RILOW Property Group Richard Whitehead has done what some property developers can only dream of achieving in a lifetime.

Case study: McNab

21 June 2018

"What I find dealing with the firm is that they are real people, they really understand the construction industry. I think that’s a very important part of what they offer to me and the business at McNab.

GST on residential premises - legislation delayed

19 January 2018

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.

New GST Legislation released - Developers and Home Builders beware

10 November 2017

Rami Brass

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

Long-term construction contract ruling | Draft ruling issued

31 October 2017

Helen O'Brien, Rami Brass

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.

New 12.5 percent withholding tax on property transactions

7 June 2017

Joanne Wynne

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:

New 12.5 percent withholding tax on property transactions

Case study: Porter Davis Homes

30 November 2016

“The ease with which we do business is a big tick box – supportive as well as providing the right advice. Our willingness to recommend RSM as an organisation would be absolute”. - Paul Wolff, Director Sales and Marketing, Porter Davis Homes

Non-resident? Understand the new NSW property taxes that could affect you

21 November 2016

Adam Crowley

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:

Industry snapshot - Property Development

15 November 2016

Glyn Yates

A snapshot of the key statistics and current industry performance in the residental housing property development sector.

Concern over complacency on new revenue standard

23 September 2016

Ralph Martin

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).

Budget 2016 - Property & Construction

4 May 2016

Ian MacPherson, Paul Heiler

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.

Tips to improve your cash flow

17 February 2016

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:

Secured creditor’s right of subrogation confirmed

3 December 2015

Richard Stone

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.

PPS - how can landlords best protect themselves from an insolvent tenant

8 October 2015

Greg Dudley

Landlords and tenants may be tempted to dismiss the relevance of the Personal Property Securities Act(PPSA). After all, the answer is in the title of the legislation. It relates to personal property, not real property.

Employee or independent contractor?

15 September 2015

Over the past couple of decades there has been a clear shift away from 'traditional employment' and towards people acting as independent contractors. This is particularly so in the building industry.

Cool weather but hot topics

5 August 2015

Manjimup district members of Master Builder' South West Branch recently attended the first in a planned series of updates on industry topics. Builders, suppliers, professionals and sub contractors from Manjimup and surrounds met at the town's Gateway Motel for presentations from RSM and RUIC Fire.

Investment vehicles minimise taxes

4 August 2015

Your choice of investment structure can save you a lot on taxes. Available structures include self-managed superannuation funds (SMSFs), family or unit trusts and companies, as well as holding property individually or in joint names.

Private certification put to minister

3 August 2015

James Komninos

Master Builder members met Planning Minister John Day in late May at a Lunch hosted by RSM and put forward a strong case for private certification of planning approvals. Numerous case studies were presented of slow response times in many local government areas.

LandCorp promotes adaptive housing initiatives

3 August 2015

LandCorp chief executive Frank Marra was guest speaker at a boardroom lunch hosted by RSM in April to discuss the agency's latest adaptive and innovative housing initiatives.

Common business mistakes made by those in the building industry

27 June 2015

As tradespeople, you know the importance of preparing a job properly, whether it’s the foundations of a house or sanding back old paint, preparation is vital to getting the best result. Despite this, so many people fail to prepare their biggest job, which is their business and it’s often a costly and detrimental oversight.

Small businesses instant asset write-off

29 May 2015

Instant write-off for small businesses Small businesses will be able to claim an immediate tax deduction for each asset that costs less than $20,000 (net of GST credits), to the extent the asset is used for tax-deductible purposes.

WA state tax exemption for charitable bodies or organisations

10 April 2015

How will the changes affect your organisation?

WA state tax exemption for charitable bodies or organisations

Is your business ready for sale?

1 April 2015

There are many reasons you might sell your business, including to capitalise on your investment and start a new business or another venture. Whatever the reason, the decision to sell your business does not come easily, and as the business owner, you want to make sure that you get the most out of the sale.

How to minimise the risk of aquisitions

30 March 2015

Merger and acquisition activity is soaring in some sectors such as healthcare, while it is taking a backseat in other sectors such as mining services. In this climate, businesses must take a step back and evaluate the benefits and risks of making acquisitions in their sector.

'Stopping multinational tax avoidance': ALP policy launch

16 March 2015

The Australian Labor Party (ALP) has outlined proposed measures to combat multinational tax avoidance in a 2 March 2015 policy launch. The proposed measures expect to raise $1.9bn over three years, and comprise:

Fringe benefits tax – tax tips for year end

16 March 2015

With 31 March just around the corner, many businesses are focusing on ways to reduce their fringe benefits tax (FBT) liability. We have therefore provided the following strategies that may help in reducing FBT.

Practical applications of BEPS Action 13: transfer pricing documentation and country-by-country (CbC) reporting

6 March 2015

The organisation for economic co-operation and development launched the base erosion and profit shifting (BEPS) project in September 2013 to develop an action plan to standardize and modernize global tax policy.

Practical applications of BEPS Action 13

Payroll tax update for WA

5 March 2015

Payroll tax threshold The Western Australian payroll tax threshold went from $750,000 to $800,000 on 1 July 2014. Plans to raise it to $850,000 have been delayed to 1 July 2016 (at this stage!).

OECD to hold public consultation on several transfer pricing related BEPS action points

5 March 2015

On March 19 and 20 the OECD will hold its public consultation on action points 8, 9 and 10 of the base erosion and profit splitting (BEPS) project. Topics on the agenda include:

Case study: ADG Prestige Builders

1 January 2015

Ray Scott

“RSM offers strategic advice particularly when it comes to managing finance. I will be looking to Ray and the team in the next five years to provide advice on the best way to finance the business to sustain growth”. - Adam Guilmartin, Owner

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Property and Construction Client Case Studies

RSM has experienced professionals who understand the different sectors within the Property & Construction industry, to help you reach your goals.

Whether you’re an investor, developer or property manager, RSM can work with you to navigate this complex market.