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SPIC Pacific Hydro Pty Ltd v Chief Commissioner of State Revenue

10/05/2021

SPIC Pacific Hydro Pty Ltd v Chief Commissioner of State Revenue was a decision of a single judge of the Supreme Court (Payne JA) handed down on 21 April 2021. The case involved the acquisition by SPIC on 12 May 2016 of the shares and units in the entities operating the Taralga Wind Farm. The […]

South Australian Land Tax - Trust nomination

06/05/2021

Reminder: 30 June 2021 deadline to nominate beneficiary for discretionary trusts holding South Australian land acquired pre-16 October 2019. As part of the measures introduced in The Land Tax (Miscellaneous) Amendment Act 2019 (Amending Act),  surcharge rates (0.5% higher than marginal rates applied to non-trusts holdings) of land tax will be imposed on certain types […]

Education Update - Victorian land tax exemption for student accommodation

08/04/2021

The University of Melbourne has successfully argued that land tax is not payable with respect to land, situated on campus, that is leased to a student accommodation provider. Background The University of Melbourne (the University) entered into a number of agreements including the Project Deed, an agreement for lease, and an operator’s side deed between […]

Grant alert - Food to market program

01/04/2021

The Victorian Government is offering grants of up to $1m to businesses in agriculture supply chains to increase supply chain efficiency, grow existing & new export opportunities, increase value to Victorian food production and encourage collaboration throughout the sector. Grants are offered on a 1:1 funding basis, with grants of $50,000 to $1m available. Grant […]

Grant alert - Food & beverage manufacturing program

31/03/2021

The Federal Government is offering Food & Beverage manufacturers grants of up to $20m to upskill the manufacturing workforce, develop new supply chains, implement Industry 4.0 manufacturing & traceability processes and encourage research & industry collaboration. Through the Modern Manufacturing Initiatives program funding is being offered on a 1:1 basis, with the Federal Government contributing […]

NFP Special Purpose Financial Statements

09/03/2021

Not-for-profit entities are required to disclose how they do not comply with the recognition and measurement requirements of the Australian Accounting Standards Introduction Whilst the removal of Special Purpose Financial Statements (SPFS) has yet to impact Not-for-Profit entities (NFPs), the AASB has introduced AASB 2019-4. NFPs preparing SPFS from 30 June 2020 must now disclose […]

NSW Build to Rent land tax and duty concessions

03/03/2021

Guidelines have been released, outlining the Land tax concession, Surcharge land tax exemption and Surcharge transfer duty exemption for Build to Rent properties in New South Wales. In August 2020, the NSW Government introduced certain tax concessions for approved Build to Rent (BTR) schemes in New South Wales, being; A 50% reduction in the value […]

Land Tax Assessments 2021

16/02/2021

The Land Tax Assessments for 2021 are being issued by the relevant State Revenue Offices (SRO). Are they correct and are you paying too much Land Tax? Usual Land Tax Assessment process Each Council/Shire engages a Licensed Valuer for the purpose of valuing each property in their municipality in respect of: The Capital Improved Value […]

Impacts of South Australia’s snap lockdown on the hotel and hospitality sector

16/02/2021

Last week The University of Adelaide’s South Australian Centre for Economic Studies (SACES) released a research report commissioned by the state’s Australian Hotels Association (SA Branch), highlighting the impacts of November 2020’s short, sharp lockdown which was introduced due to a community outbreak of COVID-19. SACES has urged the State Government to adopt a more […]

ASX announces extended reporting and lodgement deadlines

01/02/2021

The Australian Stock Exchange (ASX) extends lodgement deadlines for audited or reviewed half-year accounts and annual reports of listed entities with reporting periods up to 7 January 2021. The Australian Securities and Investments Commission (ASIC) has extended financial reporting deadlines for listed and unlisted companies by one month for entities with reporting periods up to […]