The ‘economic entitlement’ provisions are unique in Victoria. Pursuant to the amendments to the legislation as part of the Victorian 2019/20 budget, from 19 June 2019 these provisions now apply to impose duty where an economic entitlement is acquired in relation to Victorian land and any Victorian landholding entity.
Sladen Snippet - Victorian Budget 2019/20 – Royal Assent is received
The State Taxation Acts Amendment Bill 2019 (Vic) has received royal assent on 18 June 2019. Following this, the measures outlined below will take effect from 19 June 2019
Is this the death of property development agreements? – The new Victorian economic entitlement provisions
Regional Victoria Wins; Foreigners, Developers and Others Lose – Tax Measures In Victorian 2019/20 State Budget
Landholder Duty - Part 5 – Acquisitions of Economic Entitlement
In Parts 1-4 of this series, we discussed the landholder duty provisions, with a particular focus on Victorian landholder duty. In this part we continue to delve into the complex landholder provisions, with a focus on the principle of an acquisitions of economic entitlement.
Sladen Snippet - Court interprets ‘economic entitlement’ stamp duty provisions in favour of developer
The Supreme Court of Victoria has recently handed down the first decision interpreting the ‘economic entitlement’ provisions in the Duties Act 2000 (Vic) (Duties Act). These provisions were introduced in 2012 as part of the shift from a “land rich” to a “landholder” model for assessing duty in Victoria on the acquisition of interests in certain land owning entities.