Depreciation: The shipping containers for hire

Q: My business client (sole trader), who is registered for GST runs a childcare. She bought a piece of land and decided to build it up and use it as an investment property. Can she claim the GST on the building costs? What are the consequences if she decides to sell once the building is complete?

Q: A proprietary limited company owned a large parcel of rural zoned land that was subdivided and sold. The remaining parcel held is 60ha. The previous sales of 40ha were done under s 38-480 of the GST Act (sale of farmland). The client is obtaining a development application to subdivide the balance lot into two parcels- 57ha and 3ha. The 3ha block has a homestead that is uninhabitable, some farming equipment are on it. The area has never been used due to its nature. Will the company incur GST liability for the sale of the 3ha subdivision? Can the company continue to apply s38-480 to the 57ha lot provided it continues with the farmland characteristics?

Q: A client issued a dividend access share for the existing shareholders in proportion to their ordinary shareholdings in the past, but forgot to declare it to the ATO. The shares have discretionary rights to dividends but no rights to voting and no entitlement to surplus assets on the winding up of the company. How to notify the ATO? Is it under the company’s tax returns or the shareholders’ tax returns? When does issuing a dividend access share attract direct value shifting? Is it because the dividend access share was not declared in the past? Any consequences of the direct value shifting rule and what is the impact to the company? How should the problem be rectified?