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Temporary full expensing of depreciating assets

11/11/2021

Over the last year, the immediate expensing of assets for tax purposes has been subject to a raft of changes and extensions owing to the impact of COVID-19. Updated 10 June 2021 (including announcements in the 2021/22 Federal Budget) In this alert, our tax experts have detailed the key dates and conditions of eligibility for the […]

Cents per kilometre reduction rate for car expenses

10/11/2021

From 1 July 2020, the cents per kilometre deduction rate for car expenses will rise to 72 cents per kilometre (previously 68 cents). The new rate will apply until such time that the commissioner determines that a change to the rate is necessary and continues to apply to the 2022 tax year. The cents per […]

Spotlight | Wine Tourism - The Great Reopening

28/10/2021

Seize the opportunity as lockdowns ease and the new normal begins. Hear amazing consumer behavioural insights, ways to maximise the long run benefits of the tourism surge and support programs to assist. With a national plan in place to transition Australia’s National COVID-19 Response to allow visits to regional areas, plus the festive season fast […]

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 Property & Tax update

26/10/2021

Learn the major changes in the Victorian property and tax landscape. Co-hosted with Bridgestone Property Group and Align Law, our experts discussed: Commercial real estate market update and recent transactions Windfall gains tax Build to Rent Concessions Your guides online James YeDirector, SW Robert ParkerConsulting Director, SW Chao ZhangDirector, Stonebridge Property Group Amber LiProperty Law […]

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 […]

Estate Planning & Power of Attorney webinar series

12/10/2021

Join our three-part Estate Planning & Power of Attorney webinar series. Each session will focus on topics that are of particular importance when putting a strategy in place to deal with your assets and investments when you pass away. You are welcome to share this page with anyone who might be interested in attending. Webinar […]