Other than complying legacy sub-trusts created prior to 1 July 2022, it is highly arguable that creating new sub-trusts between Trusts and companies is not sensible. If you wish to pay your income or capital to a corporate beneficiary of the Trust then you should preferably pay it out to [...]
With a team led by our Tony Pointon, Pointon Partners are very pleased to have assisted Australian Bio Fert Pty Ltd in a JV with Incitec Pivot Fertiliser Ltd in respect of the creation and delivery of a new category of sustainable fertiliser. Mark Frecheville of ABF: “Incitec Pivot Fertilisers (IPF) [...]
The Research and Development Tax Incentive (R&DTI) has been in operation since 1 July 2011. The purpose of this initiative is to encourage innovation entities to grow and elevate their creative projects in Australia. The Department of Industry, Science, Energy and Resources (AusIndustry) and the Australian Taxation Office (ATO) regulate the [...]
Last Thursday, Victorian Treasurer Tim Pallas announced the Budget plans for 2021/22. The property sector in particular will be significantly impacted as a result of the announcements made. The table below outlines the changes announced and proposed start date. Tax Change Effective on Stamp Duty Premium stamp duty introduced Premium [...]
We are pleased to note that Thomas Abraham of our firm has recently been appointed into the Law Institute of Victoria’s State Taxes Committee. Thomas looks forward to further involvement in discussing law and policy related to the administration of taxes by the State Revenue Office (“SRO”). Prior to commencing at [...]
In 1989, former Prime Minister Paul Keating boasted for being able to garner public support for difficult reforms when he pronounced: “I’ll guarantee if you walk into any pet shop in Australia, the resident galah will be talking about micro-economic policy.” Thirty years on, with the initial headwinds of the [...]
Commercial decisions caused by COVID-19 have led to many early decisions being driven by real or perceived income and cash flow concerns without a clear consideration of the applicable laws. If this has happened it is recommended that the law is now looked at in respect of these past decisions [...]
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, [...]
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 [...]
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 [...]
