Changes to foreign purchaser additional duty and discretionary trusts in Victoria
February 2, 2020
Foreign purchaser additional duty provisions were introduced with effect from 1 July 2015. As the foreign purchaser rules have now been in place for more than four years, the practica...
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Victorian Bushfires – Tax and Duty relief
January 29, 2020
The Victorian Government has announced a range of tax relief measures for people and businesses affected by bushfires.
They include:
-Land tax relief on properties that have been affecte...
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CbC reporting guidance from OECD updated
January 23, 2020
The OECD has released updated guidance on the Country-by-Country (CbC) reporting regime under BEPS Action 13 to give multinational groups and tax authorities more certainty around implementa...
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Tax assistance to bushfire victims extended
January 23, 2020
The ATO has extended its package of tax assistance for people impacted by the bushfires in New South Wales, Victoria, Queensland, South Australia and Tasmania as part of the whole-of-gove...
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Reforming individual tax residency rules: Board of Taxation recommendations
January 23, 2020
The Board of Taxation's recommendations include having the 183-day test as the primary rule for tax residency supplemented by a “commencing residency test” for individuals who are not re...
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CGT main residence exemption is removed from 30 June 2020 for Foreign Residents
January 21, 2020
Foreign residents will be no longer claim the CGT main residence exemption upon disposal from 30 June 2020. The new legislation has removed the main residence exemption for foreign residents...
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How to lodge STP over holiday period?
December 17, 2019
Many businesses will be shut down during the holiday period, especially in December and January. But when you report through Single Touch Payroll (STP) you need to lodge your payroll informa...
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ATO urges taxpayers to report foreign income this tax time
October 11, 2019
The ATO has warned taxpayers that it holds data on more than $100 billion held in offshore accounts and uses sophisticated analyses to identify the taxpayers with unreported foreign income.
...
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Stamp Duties, Land Tax and Payroll Tax Changes from 1 July 2019 in Victoria
June 20, 2019
The State Taxation Acts Amendment Act 2019 received Royal Assent yesterday and introduces a number of changes to duties, land tax, payroll tax and land valuations, including those flagg...
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Low and Middle Income Tax Offset (LMITO)
June 6, 2019
Low and Middle Income Tax Offset (LMITO) amount and availability have been changed for 2019 financial year.
Please note the following guidance and contact us if you have any questions:
...
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