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JobKeeper payment disclosure

27/10/2021

As a result of ongoing political tensions related to the Government’s management of the JobKeeper payment, the Senate used an otherwise unrelated bill to drive debate over disclosure requirements for publicly listed entities which received the JobKeeper payments in 2020 and early 2021. On 13 September 2021, the Treasury Laws Amendment (2021 Measures No. 2) […]

Director Identification Numbers

26/10/2021

As of November 2021, all company directors will need to apply for a Director identification number (Director ID). This is part of new requirements implemented by the Australian Government. A Director identification number is a unique identifier and has been introduced to prevent the false or fraudulent use of directors’ identities. Who needs to Apply […]

Victorian Universities - Windfall gains tax & changes to charity land tax exemption

15/10/2021

Changes to charity land tax exemption to increase University land tax bills. The recently released Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 has introduced Victoria’s new Windfall Gains Tax and included changes to the charity exemption for land tax. This should be considered closely by Universities that hold land […]

Windfall gains tax

14/10/2021

After being deferred 12 months from the original Victorian Budget announcement, the windfall gains tax (WGT) will come into effect on 1 July 2023. This applies to uplifts in land value resulting from amendments to planning schemes that take effect on or after 1 July 2023 and is payable by the owner of the land […]

Victorian Build to Rent Concessions introduced

14/10/2021

The Victorian Government has introduced Build to Rent Concessions in the form of a 50% reduction in land tax and an exemption from the land tax Absentee Owner Surcharge. Build to Rent (BTR) projects which will in turn ensure Victorians have access to more rental homes and a greater range of housing options. BTR Benefits […]

Superannuation Reform

12/10/2021

In the 2020-2021 Federal Budget, the Government announced the Super Reforms – Your Future, Your Super measure. A measure aiming to reduce employees accumulating multiple super accounts when moving jobs. These changes will come into effect from 1 November 2021. What is Super Stapling? Currently, where an employee does not nominate a complying superannuation fund, […]

Property Tax Update

12/10/2021

Recent changes to land tax and duties will impact foreign property owners. Most States across Australia tinkered with their foreign owner land tax and duty regimes as part of their last budget. None of these changes were good for foreign investors. These changes mainly impact residential property but they also impact on commercial property in […]

Wind Turbines – Fixture or Chattel?

05/10/2021

Valuer General Vic v AWF Propco 2 Pty Ltd [2021] VSCA 274 handed down. The Victorian Court of Appeal has come to an unanimous judgement that ‘above ground assets’ installed on leasehold land are chattels and not fixtures. In the latest in a series of cases on wind turbines installed on leasehold land, the Victorian […]

The expansion of Single Touch Payroll

01/10/2021

The expansion of Single Touch Payroll will now require employers to report additional payroll information on payday and aims to remove the burden of manually reporting to multiple government agencies. This will come into effect on 1 January 2022. What is Single Touch Payroll? Single Touch Payroll (STP) is a mandatory obligation which commenced on […]

Webinar FAQs: Changes to the treatment of casualised workforce 

30/09/2021

Following the webinar on 16 September, we have collated some of the FAQs to assist you and your organisation to make these changes. What we can assist with Collating a list of all employees who have continuous service Reviewing periods of continuous employment to determine any periods of a break in service Determining average weekly […]