Monthly Archives: October 2017

//October

Vacant Residential Land Tax – Do you need to notify the State Revenue Office?

The lack of housing supply in inner and middle Melbourne has become a major issue for residents and the State Government. In response, the Victorian State Government has sought to free up further housing by introducing a new Vacant Residential Land Tax on residential properties that remain vacant for more than [...]

2018-08-24T17:26:09+00:00October 25th, 2017|Categories: Taxation|Tags: , , |

Ipso Facto Amendments: Do they apply to existing contracts?

The Government says the amendments apply only to contracts entered into after commencement. But what does the Bill say? The proposed Ipso Facto amendments[1] impose a stay on the enforcement of contractual rights arising by reason of: (a)        an application or entry into a compromise or arrangement under Part 5.1; [...]

2018-08-28T15:19:32+00:00October 11th, 2017|Categories: Insolvency|Tags: |

Crowd-sourced funding for proprietary companies: Differences between exposure draft and bill

The Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 (Bill) has now been introduced into Parliament. The Bill “sets out amendments to the Corporations Act 2001 (Corporations Act) to enable proprietary companies in Australia to access crowd-sourced equity funding”.[1] Prior to the introduction of the Bill into Parliament, the [...]

2018-08-28T15:23:54+00:00October 9th, 2017|Categories: Commercial|Tags: , |

Small business corporate tax rate: Exposure draft legislation released regarding passive income threshold

In our recent article entitled “Corporate Tax Cuts. What do they mean for you?”, we referred to the relevant minister (Kelly O’Dwyer) questioning the ATO provisional interpretation of when a company would be “carrying on business” for the purpose of the reduction in the small business corporate tax rate. The [...]

2018-08-28T15:29:02+00:00October 9th, 2017|Categories: Taxation|Tags: , |

Buying, selling and moving accident tow truck licences in Victoria

Obtaining an accident towing licence in Victoria is far more difficult than one might assume. The number of towing licences is fixed by the Minister for Roads, and with a sufficient number of licences currently operating, prospective purchasers are compelled to seek out a vendor of an existing licence. Coupled [...]

2018-08-28T15:32:19+00:00October 9th, 2017|Categories: Commercial|Tags: , |