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In this two part series, King Tan takes us through how you can determine whether your client's property development would be considered on revenue or capital account. It depends on the facts!
In part 1, we go through the fundamentals: legislative background and case law, plus some common property scenarios that you might find with "mum and dad" clients such as renovations, knock down and rebuild and subdivisions.
In part 2, we go through more complex case studies: subdividing a main residence, developing farmland, and land banking.
Date recorded: 16 November 2022