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+11:00August 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+11:00August 9th, 2019|Categories: Taxation|Tags: , , , |