Victorian land tax trust provisions – VCAT’s changing perspective
Can you recover landholder duty from other parties (including from shareholders) - Aviation 3030 Pty Ltd
Can you Mislead or Deceive Someone if You Have Honestly Relied on Your Lawyers Advice? A Case Study on ASIC v Retail Employees Superannuation Pty Ltd
The Federal Court of Australia’s judgment in ASIC v Retail Employees Superannuation Pty Ltd highlights that if a corporation honestly relies on advice from their lawyers that may provide reasonable grounds to defend the making of a representation that concerns the present state of affairs.
The Federal Court found that representations made by Retail Employees Superannuation Pty Ltd (REST) regarding their rules and practice were opinions expressed as to the law based on reasonable grounds due to reliance on advice received from their lawyers and other trusted sources. Therefore, the representations made could not amount to misleading or deceptive conduct.
Uber not liable for payroll tax – New South Wales Supreme Court decision
The New South Wales Supreme Court has that Uber is not liable for payroll tax on payments made to drivers in Uber Australia Pty Ltd v Chief Commissioner of State Revenue [2024] NSWSC 1124.
Sladen Snippet - New Victorian Short Stay Levy Bill 2024 introduced into Parliament
Imbree Appeal - NSW taxpayer denied stamp duty exemption for transfer from SMSF to member
Oliver Hume Appeal - Victorian Landholder Duty Applies on Capital Raising
On 8 August 2024, the Victorian Court of Appeal in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175 confirmed that landholder duty applied on the separate acquisition of shares by 18 investors under a single capital raising. The Court held that that capital raising amounted to substantially one arrangement and therefore was a relevant acquisition for landholder duty purposes.
Tao - Becoming a sole director of a corporate trustee triggers landholder duty despite no acquisition of units in a unit trust
Water Pipeline Subject To Duty As “Goods” For The Purpose Of The New South Wales Landholder Duty Provisions in Conexa Syndey Holdings
On 24 May 2024 the New South Wales Supreme Court held that landholder duty applied to value of a water carrying pipeline in Conexa Sydney Holdings Pty Ltd v Chief Commissioner of State Revenue (2024] NSWSC 628.
New South Wales State Budget 2024-25 – Increase to foreign surcharges and payroll tax relief for GP contractors
Sladen Snippet – Merristock – primary production exemption applies as trust can beneficially own shares
In a case run by Sladen Legal, Merristock Pty Ltd v Commissioner of State Revenue (Review and Regulation) [2024] VCAT 535, the taxpayer has successfully appealed against a Victorian State Revenue Office (SRO) determination that land owned by the taxpayer was not eligible for the primary production land tax exemption.
Godolphin case: High Court decision considers the “dominant use” test under the NSW land tax primary production exemption
The High Court has dismissed an appeal by Godolphin Australia Pty Ltd (Godolphin) and confirmed that it cannot claim the primary production land tax exemption, as it was unable to show that the “dominant use” of its properties was for primary production where it also had substantial horseracing activities. The decision illustrates the issues that can arise when primary production land is used as part of business models that include other interrelated activities.
GP Tax – Payroll tax changes flagged in Victoria
Bill Implementing New Commercial and Industrial Property Tax Replacing Stamp Duty From 1 July 2024 Passed Without Amendments - Future Changes Flagged
The new Commercial and Industrial Property Tax reform that progressively abolishes stamp duty on commercial and industrial property from 1 July 2024 is one of the most significant Victorian property tax reforms in the past 30 years. Anyone looking to buy or sell commercial or industrial property will be impacted.
State Taxation Amendment Bill 2024 – Welcome expansion of holiday home exemption for vacant residential land tax to properties in trusts
On 14 May 2024, the State Taxation Amendment Bill 2024 (Vic) (the Bill) was released after having its second reading speech in the Victorian Legislative Assembly.
Victorian State Budget 2024-25 - Small Changes to State Taxes
On 7 May 2024, the Victorian State Government presented the Victorian State Budget for 2024/25.
No substantial tax measures were announced. There were only new State Tax measures in the Victorian State Budget 2024-25 which are listed within this article.
Bill introduced to implement new Commercial and Industrial Property Tax that progressively replaces Land transfer (stamp) duty from 1 July 2024
The Victorian State Government has introduced a highly anticipated bill to implement the new Commercial and Industrial Property Tax with only three months to go until the 1 July 2024 start date. Those looking to acquire commercial or industrial properties or plan restructures within existing corporate/family groups should consider the interaction of the new regime with existing taxes.
Significant changes to Victorian land tax assessments to result in higher land tax bills
Victoria’s new commercial and industrial property tax – a tale of two regimes
As we’ve noted previously, commercial and industrial properties sold or transferred on or from 1July 2024, will enter the new commercial and industrial property regime. Broadly, the regime will operate such that future transfers will not trigger land transfer (stamp) duty but rather the property will be subject to a (further) set of land tax, known as commercial and industrial property tax (CIPT).