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Victorian capital raising | Risk of landholder duty and the Oliver Hume case

05/09/2023

The VCAT decision in Oliver Hume Property Funds v Commissioner of State Revenue held that units issued to investors under a capital raise via an Information Memorandum (IM) to fund the acquisition of a property in Victoria are to be aggregated as associated transactions for the purpose of the landholder duty rules.   This means that […]

VIC State Budget 2023/24

24/05/2023

The 2023/24 State Budget delivered by the Victorian Government seeks to repay COVID-19 debt through taxing big business and property investors. Temporary levies and job cuts are central to the 10-year fiscal repair plan which are set to impact business and employment. Key takeaways Larger businesses and landlords will have to pay additional taxes to […]

Broader university exemption for Windfall Gains Tax, VIC

25/05/2022

Further to legislation passed in November 2021, current proposed amendments to Victoria’s Windfall Gains Tax expands exemption for universities. Introduction of Bill includes a further exemption State Taxation and Treasury Legislation Amendment Bill 2022 (part 8) provides an exemption from the Windfall Gains Tax for land owned by a university in certain circumstances.  Background The […]

VIC State Budget 2022/23

04/05/2022

The Victorian Government has delivered the 2022/23 Budget with a clear emphasis on health, education and infrastructure projects in Victoria and no major surprises or material new taxes for Victorian businesses. Key takeaways Although there are no key tax measures introduced, direct property taxes will continue to be the source of over 50% of new […]

VIC State Budget 2022/23 - Property & infrastructure

04/05/2022

The Victorian Government has continued its emphasis on infrastructure investment in this Budget with a focus on schools, health facilities and social and affordable housing. Significant measures New infrastructure spending: $1.6bn for construction and development of new schools and school upgrades $1.6bn for construction and development of new hospitals, health facilities and related upgrades $2.6bn […]

Federal Budget Webinar 2022/23

14/02/2022

With the Federal election around the corner, how will the Federal Budget support Australia’s economic recovery and encourage sustainable growth? Covid-19 continues to present significant challenges with labour shortages, supply chain issues and inflationary pressures. Australian businesses want to know how Treasurer Josh Frydenberg will tackle our economic recovery. Join us for the 2022/23 Federal […]

Commercial tenant relief update - Victoria

04/02/2022

The Commercial Tenancy Relief Scheme Regulations 2022 (Regulations) have been released, providing relief for eligible tenants from 16 January 2022 to 15 March 2022. Eligibility Tenants who are ‘small entities’ may be eligible. A $10m turnover threshold applies, which is based on the year ended 30 June 2021 in most cases. This is lower than […]

Mental Health & Wellbeing Levy

30/11/2021

The Mental Health and Wellbeing Levy will fund a complete rebuild of the mental health program in Victoria. This will be implemented as a payroll tax surcharge and come into effect from 1 January 2022. What is the Mental Health and Wellbeing Levy? The Mental Health and Wellbeing Levy was a recommendation of the Victorian […]

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 […]