Latest News

Our webinar provided clear insights into Victoria’s evolving property tax landscape and key compliance essentials for property owners

In Victoria, you can be liable for landholder duty without any traditional ‘relevant acquisition’ of shares or units occurring. This article explores the topic and considers if specialist legal advice may be required to avoid this issue.

SMSF property purchases using LRBAs can trigger double duty in Victoria. Understanding LRBA structures, exemptions and documentation requirements is essential to avoid unexpected duty costs and ensure tax compliance.

Dealing with a deceased estate is challenging enough without unexpected tax surprises. Learn how the main residence exemption works, when it applies, and what to watch out for to protect the estate's value.

In Victoria, there is a patchwork quilt of overlapping concessions in relation to duty payable on real estate depending on the date that a contract of sale was signed, whether a property is purchased off the plan (OTP) and if so, whether there is or is not common property on the plan of subdivision and whether the purchaser is a first home buyer or, if not, otherwise a purchaser of a principal place of residence.

The Federal Treasurer, Dr. Jim Chalmers, has announced design changes to the proposed Division 296 of the Income Tax Assessment Act 1997 which was contained in an introduced but unenacted Bill (Treasury Laws Amendment (Better Targeted Superannuation Concessions) Bill 2023).

From 1 July 2023, Windfall Gains Tax (‘WGT’) will be applied to properties rezoned in Victoria.

Recent case law has redefined some of Victoria's Stamp Duty calculations parameters. It now appears that late settlement interest and other payments form part of the dutiable value.

Be Alert... and perhaps a little alarmed about the #ATO's new guidelines on the operation of Section 100A. The guidelines may not become law and there may yet be changes before they are issued in their final form, but there is plenty to pay attention to now.