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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 […]

NSW 2020/21 State Budget

18/11/2020

The NSW Government has tabled a 2020-21 State Budget which is very much focused on job creation and the improvement of government services, whilst continuing to keep people safe. Key Takeaways Projected deficit of $16bn (2019-20 deficit $6.9bn). Return to surplus by 2024-25 $29bn committed to economic support measures (including pre-budget measures) in response to the […]

Victorian duty – new draft ruling on ‘land development’

15/09/2020

The Victorian State Revenue Office (SRO) has recently released a draft ruling for consultation on the meaning of the term ‘land development’ (draft revenue ruling DA-064). The new draft ruling and the definition of ‘land development’ in a duty context is of particular relevance to: foreign purchasers purchasers involved in pre-settlement nomination arrangements Foreign purchasers […]

Additional tax relief support announced for Victorian businesses

14/09/2020

As Victoria’s lockdown continues, the State Government has recognised that further support is needed for Victorian businesses. Below is a summary of the various tax relief and grants announced. Vacant Residential Land Tax Relief (VRLT) VRLT is annual tax of 1% of the council capital improved value and it applies to residential land in specified […]

NSW to stimulate Build-to-Rent industry

03/08/2020

NSW has announced important land tax and foreign investor surcharge concessions for new build-to-rent (BTR) projects until 2040. The NSW Government last week announced tax concessions for new BTR projects until 2040, and also released a new streamlined Housing Diversity State Environmental Planning Policy that includes proposed development standards for BTR developments and other affordable […]