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State Taxation Series: Issue #6 – Foreign Purchaser Additional Duty: Milestone Changes from 1 March 2020

The foreign purchaser additional duty (“FPAD”) provisions were introduced in Victoria with effect from 1 July 2015. The additional duty provisions for foreign purchasers were incorporated in section 28A of the Duties Act 2000 (Vic) (“the Act”) A foreign purchaser is either a foreign natural person, corporation or the trustee [...]

2020-02-25T14:36:17+11:00February 25th, 2020|Categories: Taxation|Tags: , |

State Taxation Series: Issue #5 – Section 67 – Exemption of Primary Production Land in an urban zone in Greater Melbourne

Issue 5 of our State Taxation Series considers the newly amended section 67 of the Land Tax Act (Act) relating to the primary production land (PPL) land tax exemption. The amended provisions in section 67 of the Act received Royal Assent on 19 November 2019. As of 20 November 2019, [...]

2019-12-03T13:57:48+11:00December 3rd, 2019|Categories: Taxation|Tags: , , , |

State Taxation Series: Issue #4 – Section 36A Duties Act 2000 (Vic) – Property passing to beneficiaries of discretionary trusts

Issue 4 of our State Taxation Series looks at section 36A of the Duties Act 2000 (Vic) (“the Act”). The transfer of property from trustee to beneficiary is exempt from duty, with various exemptions from duty available under Chapter 2 of the Act. Section 36A governs the exemption from duty when [...]

2019-10-29T11:18:35+11:00October 29th, 2019|Categories: Taxation|Tags: , , , |

State Taxation Series: Issue #3 – Exemption of Primary Production Land (PPL) outside Greater Melbourne

Issue 3 of our State Taxation Series considers primary production land (PPL) and the exemption available under section 65 of the Act. More particularly, this issue looks at the definition of “primary production” under section 64 of the Act and the exemption contained in section 65 of the Act for land [...]

2019-10-09T11:39:41+11:00October 9th, 2019|Categories: Taxation|Tags: , , , |

State Taxation Series: Issue #2 – Land Tax Trust Surcharge – Nomination of beneficiary and notice of beneficial interests

The first issue of our State Taxation Series looked at section 46F of the Land Tax Act 2005 (Vic) (“the Act”), and the three circumstances where a nomination can still be lodged for a discretionary trust that owns any pre-2006 land. This issue looks at statutory requirements for the nomination of [...]

2019-08-27T16:23:00+10:00August 27th, 2019|Categories: Taxation|Tags: , , , |

State Taxation Series: Issue #1 – Section 46F (Nomination of beneficiary of pre-2006 discretionary trust for land tax purposes) – Are you completely out of time to nominate?

The Land Tax Act 2005 (Vic) (“the Act”) imposes land tax on all taxable land in Victoria, with the owner of the particular land liable to pay land tax on 31 December of each calendar year. The rate of land tax is stipulated in Schedule 1 of the Act, with a [...]

2019-08-26T11:23:20+10:00August 9th, 2019|Categories: Taxation|Tags: , , , |

Retaining and Incentivising Key Employees

Retaining and incentivising key employees is an issue that nearly all businesses must confront at certain stages of their development and expansion. Generally, multiple options are available with pros and cons that need to be carefully considered based on the circumstances of the relevant business. The most commonly used incentives are [...]

2019-08-12T06:28:48+10:00June 20th, 2019|Categories: Commercial, Employment Law, Taxation|

Residential Construction and Land Tax: What happens if there is a delay in construction?

Whilst homes in Victoria that are occupied as a principal place of residence are exempt from Land Tax, building works or disputes that result in homes being unoccupied for extended periods of time can have the unexpected result of a Land Tax liability. These assessments can be particularly frustrating if [...]

2019-06-05T12:45:41+10:00June 5th, 2019|Categories: Property, Taxation|Tags: , , |

Blind Siding Amendment – Significant Property Developer Stamp Duty Amendment in Victoria

Almost all Victorian development agreements could soon create a stamp duty liability. Any sharing of profit by a landowner with a property developer who does not own the land in proportion to the profit entitlement could be assessable to stamp duty. In what may be described as a blind siding amendment [...]

2019-05-31T10:14:19+10:00May 31st, 2019|Categories: Property, Taxation|Tags: , , |

The Breakfast Club – “Recent developments in the tax residence of individuals, companies and trusts”

Robert Gordon of our firm has written an article for the Tax Institute Breakfast Club in relation to recent developments in the tax residence of individuals, companies and trusts. Please click on the link below to view full article. The Breakfast Club - Recent developments in the tax residence of [...]

2019-05-08T14:56:21+10:00May 8th, 2019|Categories: Taxation|Tags: |