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Rental properties and holiday homes: ATO’s new draft ruling

19/12/2025

On 12 November 2025, the Australian Taxation Office (ATO) released Draft Taxation Ruling TR 2025/D1 which seeks to clarify the assessable income of a rental property, provide stricter deduction eligibility for holiday homes, and clear up expense apportionment rules.    The ruling, titled Income tax: rental property income and deductions for individuals who are not in business (‘the ruling’), along with two practical guidance guides, replaces the longstanding IT […]

Unimproved land subject to Vacant Residential Land Tax from 1 January 2026

16/12/2025

Effective 1 January 2026, Vacant Residential Land Tax (VRLT) will apply to unimproved land in metropolitan Melbourne that has remained undeveloped for five consecutive years or more (as of 31 December of the preceding year).   The Victorian Government has released Treasurer’s guidelines outlining limited circumstances where the Commissioner may exercise discretion to exempt landowners from VRLT if construction has not commenced due to acceptable reasons.  What is VRLT and how has it […]

ATO Draft Determination TD 2025/D3: New guidance on when ancillary funds ‘provide a benefit’ 

15/12/2025

On 12 November 2025, the ATO released draft Taxation Determination TD 2025/D3, offering the first detailed guidance on when ancillary funds are considered to ‘provide a benefit’.  The draft provides the first comprehensive guidance on when private and public ancillary funds ‘provide a benefit’ under the Taxation Administration (Private Ancillary Fund) Guidelines 2019 and the Taxation Administration (Public Ancillary Fund) Guidelines 2022 (collectively, the Guidelines).  […]

ATO and income splitting – this time its personal

12/12/2025

The Australian Taxation Office (ATO) has issued Practical Compliance Guideline PCG 2025/5, a reminder that taxpayers are at risk of audit if personal services income is split to reduce tax.  The ATO has indicated that even if your business satisfies the statutory Personal Services Income (PSI) rules and operates as a Personal Services Business (PSB), your overall tax position may still be classified as either […]

Watt a relief! Capital gains relief for foreign investors in energy sector

03/12/2025

The Federal Court of Australia has handed down its decision in YTL Power Investments Limited v Commissioner of Taxation [2025] FCA 1317, ruling in favour of YTL Power (the Taxpayer) and holding that the infrastructure assets did not constitute real property.  The Taxpayer was successful in arguing that the leased electricity infrastructure situated on owned and leased land did not constitute “real property situated in Australia (including a lease of land)” and accordingly the shares disposed were not “taxable […]

Build-to-rent developments: ATO draft updates to GSTR 2012/6

20/11/2025

On 5 November 2025, the ATO issued a new draft taxation ruling GSTR 2012/6DC (‘the ruling’) expanding on existing principles provided in GSTR 2012/6 – Goods and services tax: commercial residential premises.   The draft ruling provides further clarity on how existing principles apply to build-to-rent (‘BTR’) developments, determining the status of occupants, and the characteristics […]

SW International Partners Conference (SWIPC) 2025

18/11/2025

SW International held SWIPC 2025 from 18–20 November in Sydney, Australia, bringing together more than 150 Partners from across the network for three days of collaboration, strategic discussion, and cross-regional engagement. The conference also celebrated two major milestones: the 10-year anniversary of SW Australia as a member of SW International and the 20-year anniversary of […]

2025 SWIPC | Additional information

13/11/2025

Media release | SW wins Outstanding Integrated Marketing Campaign at the 2025 AGRIAs

12/11/2025

SW Accountants & Advisors (SW) has been recognised with the Outstanding Integrated Marketing Campaign (Graduate Intake Under 50) award at the 2025 Australian Association of Graduate Employers (AAGE) Graduate Recruitment Industry Awards (AGRIAs) for its graduate campaign, Discover Endless Possibilities.  Duane Rogers, CEO of SW, said: “Launching ‘Discover Endless Possibilities’ demonstrated our focus on creating […]

Victoria’s State Taxation Further Amendment Bill 2025: What you need to know

05/11/2025

On 14 October 2025, the Victorian Government introduced the State Taxation Further Amendment Bill 2025 (the Bill) which is a wide-ranging legislative package that amends several key Acts affecting property, land tax, congestion levies, building permits, and more. Key legislative changes Commercial and Industrial Property Tax Reform Act 2024 The Bill makes targeted amendments to the Commercial and […]