Real Estate

We serve as auditors, tax and legal advisers, as well as financial and tax due diligence experts for the real estate sector

Services to the real estate industry

PwC are market leaders in the real estate sector. Over many years, we have built a high-quality team of real estate specialist auditors, tax and legal advisers and transaction, valuation and restructuring experts. PwC works with public and private Australian asset owners and investors as well as significant foreign investors in Australian real estate to provide a comprehensive range of services that give our clients confidence to make informed investment decisions within the requirements of Australia's complex regulatory frameworks.

How we can work with you

Financial statement audit of listed and private real estate ventures, including expertise in the audit of property developments, valuations and complex capital partnership structures.
Internal audit to give companies and their stakeholders confidence in their people, processes, systems and data, allowing them to see risk differently, move faster and make better decisions.
Providing assurance over controls reports such as GS007's so that real asset managers can demonstrate the maturity of their control environments and retain or attract mandates.

Using our insights into the challenges and opportunities in the real estate sector to help its CFOs and finance teams solve important problems:

Finance transformation and strategy;
Finance function diagnostics and uplift;
Process optimisation; and
Finance system implementation and support.

Support in building out and providing assurance over sustainability reporting including identifying the ESG topics and metrics that are material to a real estate owner or manager in achieving its core strategy and to creating long-term value to help prioritise reporting efforts.
Assistance with climate modelling tools, technologies and climate change projection data to provide a view of likely threats that could have material impact.

Support in your digital transformation journey, assessing the big picture, sharing our learnings, and helping to identify, manage and monitor the most significant risks and opportunities, so that your transformation achieves its potential.
AI Trust, PwC helps organisations build trust in AI through safe, responsible and innovative practices that drive growth.

Establishment of investment vehicles in Australia and in collaboration with PwC foreign offices to achieve a tax optimised structure (MIT/ non-MIT/ REITs) including advising on funding options
Modelling, fund establishment & restructure of existing investment vehicles
Entry & exit strategies to optimise tax efficiency and align with business objectives.

Provision of tax advice across a broad range of matters, including AREITs/stapled securities, Div 6C, MIT rules, financial instruments/withholding tax, property funds management/wholesale funds, general corporate tax/consolidated groups etc
Our real estate tax advice capability is broad, and covers not only income tax matters, but stamp duty/land tax, GST and transfer pricing.
Comprehensive due diligence support including acquisitions, disposals and mergers of investments/ units
Review of transaction documents from tax perspective
Tax advice on Australian tax issues, tax treaties and model tax commentaries
Risk assessments to evaluate tax risks associated with transactions & holdings.

Tax compliance assistance, including fund distribution reviews and tax return processes.
At PwC, our income tax compliance services are provided via PwC inhouse developed automation software (Tax Automate) that enhances & streamlines compliance capabilities through technology-enabled tax solutions (tax returns and distribution reviews).
Tax accounting support with processes involving deferred tax calculations and compliance with financial reporting standards.

Asset/portfolio analysis for direct real estate transactions as well as entity due diligence for structure transaction.
Analysis of rental income with reference to the tenancy schedule and key drivers including occupancy rates and rent reversion risk;
Review of outgoings recovery and true-up mechanism, focused on cash/accrual treatment and purchase price impact; and
Tenancy schedule verification (including outstanding lease incentives).

Review of SPA/USA documents to ensure that key financial and accounting due diligence findings are correctly captured and reflected to mitigate leakage, including:

Financial definitions or accounting policies, which are subject to ambiguity and discretionary interpretation;
Purchase price adjustments which are not subject to recognition in accordance with Australian Accounting Standards (e.g. outstanding capex)
Cash accounting for make good, sinking fund or outgoings contributions received from tenants.

A settlement statement review (either completion accounts or completion statements) is required for both holding vehicle or asset acquisitions.

Our review will focus on ensuring the preparation is consistent with the sale & purchase agreement and presents fairly and reasonably the working capital positions, relevant to the transfer, as at settlement.

Our valuations are performed for all real asset classes including plant and equipment, for the following purposes:

Financial reporting
Taxation and stamp duty
Advisory and scenario modelling

Asset due diligence
Portfolio and asset strategy
Highest and best use analysis
Development feasibilities
Market research and benchmarking
Identifying, targeting and evaluating real estate opportunities

Independent developer/project reviews
Stakeholder management
Distressed capital solutions
Safe harbour advice
Insolvency appointments

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Your team at PwC

PwC has a global team of real estate experts. We serve as auditors, tax advisers, legal advisers and financial and tax due diligence experts for the real estate sector. Our real estate team meets at least twice a year at our Global Real Estate conference both in Asia and Europe.

Meet PwC Australia’s Real Estate team:

Assurance

Joe Sheeran

Partner, Financial Services - Assurance, Sydney, PwC Australia

+61 414 678 240

Real Estate

Services to the real estate industry

How we can work with you

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Your team at PwC

Assurance

Deals due diligence

Legal

Real Estate Income Tax

Stamp Duty

Valuations and advisory

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