Monthly Archives: March 2016

//March

IMPORTANT ANNOUNCEMENT: Purchaser Purchasing 2million Plus Property From Foreign Vendors After 1 July 2016 Required REQUIRED To Pay 10% Of Sale Price T A.T.O.

The Commonwealth Government have introduced new legislation that received Royal Assent on 25 February 2016 which provides that where a foreign resident disposes of property for over 2 million dollars, 10% of the purchase price is required to be withheld by the purchaser and paid directly to the Australian Taxation Office (ATO). Through a certificate [...]

2016-03-22T22:29:13+00:00March 22nd, 2016|Categories: Property, Taxation|

Foreign Purchasers of Residential Property in Victoria, Australia – Additional Victorian Stamp Duty

INTRODUCTION New legislation has been passed by the Victorian Government which provides that where an interest in a residential property is transferred to a foreign purchaser after 1 July 2015, the foreign purchaser is required to pay an additional duty of 3% of the full contract property value (the additional duty) for their share in [...]

2016-03-22T22:26:33+00:00March 22nd, 2016|Categories: Property, Taxation|

FOREIGN PURCHASERS OF RESIDENTIAL PROPERTY IN VICTORIA, AUSTRALIA – ADDITIONAL VICTORIAN STAMP DUTY

INTRODUCTION New legislation has been passed by the Victorian Government which provides that where an interest in a residential property is transferred to a foreign purchaser after 1 July 2015, the foreign purchaser is required to pay an additional duty of 3% of the full contract property value (the additional duty) for their share in [...]

2016-03-22T06:04:15+00:00March 22nd, 2016|Categories: Property, Taxation|

IMPORTANT ANNOUNCEMENT: PURCHASER PURCHASING 2MILLION PLUS PROPERTY FROM FOREIGN VENDORS AFTER 1 JULY 2016 REQUIRED TO PAY 10% OF SALE PRICE TO A.T.O.

The Commonwealth Government have introduced new legislation that received Royal Assent on 25 February 2016 which provides that where a foreign resident disposes of property for over 2 million dollars, 10% of the purchase price is required to be withheld by the purchaser and paid directly to the Australian Taxation Office (ATO). Through a certificate [...]

2016-03-22T05:57:41+00:00March 22nd, 2016|Categories: Property, Taxation|

Accident Towing in Victoria – A Review into the Industry

Accident towing licences are a scarce commodity, as the market to buy and sell them is highly regulated. It therefore comes as no surprise that licence holders were eagerly awaiting the release of a report into the industry, conducted by the Essential Services Commission Victoria (ESCV). The ESCV’s Report The ESCV were tasked with reviewing [...]

2016-03-18T23:49:30+00:00March 18th, 2016|Categories: Commercial|

Unfair Dismissal Update – Recent Decisions and Refresher Notes For Employers

As businesses prepare to enter into the final quarter of the 15-16 financial year many businesses will begin to take stock of their human resources needs in the coming months. It is likely that many employers will undertake staff evaluations and it is common at this time to assess under-performing or problematic team members. It [...]

2016-03-18T23:43:32+00:00March 18th, 2016|Categories: Employment Law|

ATO Challenging Expats

In the last two or three years there appears to have been a concerted attempt by the ATO to challenge the claimed non-residency status of individuals who are working overseas, who have a significant connection with Australia. There have been a succession of reported decisions mainly in the Administrative Appeals Tribunal on this issue. The [...]

2016-03-09T23:52:10+00:00March 9th, 2016|Categories: Taxation|