P3: Understanding Property Related Goods and Services Tax (P311S0195)

Credit Hours
2 Professional Credits

Course Synopsis

CPD Courses Synopsis:
This CPD course provides a more in-depth knowledge of the subject of property-related Goods & Services Tax (GST).

Goods and services tax is a consumption tax that affects all strata of the society. Specifically, the real estate sector is also affected by the GST application. Although, a residential property transaction is categorised as being GST exempt, there are other implications and application of GST in terms of rental components and commission of a salesperson. The importance of GST and its application in real estate makes it an important topic that has implication in recent real estate practices.

CPD Course Objectives:
After attending the workshop, participants who intend to focus on residential property market will be able to:
– Explain the requirements for GST taxable person;
– Describe the difference between GST sole proprietors and GST companies;
– Identify property-related GST taxable supplies;
– Explain why agent’s commission attracts GST;
– Explain which portion of furnished tenancy and related services attract GST,

to their customers and new salespersons (where applicable).

Participants who intend to target non-residential property segments will be able to:
– Explain when sale & purchase of non-residential properties is subject to GST;
– Explain why GST sole proprietor selling a business asset, e.g. non-residential property, must charge and collect GST;
– Explain when non-residential leases will attract GST;
– Identify GST expenses that are claimable by landlord and tenant
– Explain the relationship between output and input tax;
– Describe the accounting for GST during various stages of property purchase;
– Explain when ‘rent free period’, ‘forfeiting of security deposit’ may be subject to GST;
– Explain when ‘early termination of lease’, ‘liquidated damages’, ‘consideration for surrendering of rights in a lease’ may be subject to GST;
– Demonstrate the calculation of GST payable;
– Describe the accounting for GST in sub-sale transactions,

to their customers and new salespersons (where applicable).

*Please do not register for this course if you had attended it at other course providers in the same CPD cycle*

Course Details

21/08/2018 2:00 PM
21/08/2018 5:00 PM
C & H Properties Pte Ltd
Training Room at 490 Lorong 6 Toa Payoh
#06-11 HDB Hub
Singapore 310490
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