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 [...]
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 [...]
A party affected by a lost trust deed would expect much inconvenience and frustration. This article examines the two main pathways available and the relevant pointers that will come in handy should you be placed in such a circumstance. On the outset, it is prudent to ascertain whether the missing [...]
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 [...]
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 [...]
