As outlined in our previous article, under the proposed changes to New South Wales land tax and duty legislation, a trustee of a discretionary trust (including testamentary trusts) will be deemed to be a “foreign trust” if the terms of the trust do not prevent a foreign person from being a beneficiary of the discretionary trust. Importantly, these changes are proposed to have retrospective effect to the 2017, 2018 and 2019 land tax years and can catch dutiable transactions back to 21 June 2016.

The State Revenue Legislation Further Amendment Bill 2019 was introduced to NSW Legislative Assembly on Tuesday 22 October 2019.

Primary producers in Melbourne will soon be faced with a greater likelihood of paying land tax on their farms due to the proposed reform, and narrowing, of the primary production land tax exemption as proposed in the State Taxation Acts Further Amendment Bill 2019.

The Victorian Supreme Court’s decision in favour of the taxpayer has been overturned by the Victorian Court of Appeal. We have previously discussed the Victorian Supreme Court decision.

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.

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

As set out in the recent controversial Victorian Budget article, the State Taxation Acts Amendment Bill 2019 (Vic) contains amendments to the corporate reconstruction exemption.

As set out in the recent controversial Victorian Budget, the State Taxation Acts Amendment Bill 2019 (Vic) contains amendments directly impacting any foreign persons or entities holding Victorian properties.

As set out in the recent controversial Victorian Budget, the State Taxation Acts Amendment Bill 2019 (Vic) contains amendments that will introduce the imposition of duty on fixtures.

The 2019 Victorian budget contained a sleeper in the form of the amendments to the Victorian economic entitlement provisions.

The Victorian 2019/20 State Budget was announced yesterday, with positive wins for Regional Victoria. The proposed measures contain an increase in taxes for foreigners holding property in Victoria, as well as measures broadening the application of land transfer (stamp) duty.

Initially, the ‘land-rich’ regime was introduced as an anti-avoidance measure as acquisitions in companies or unit trusts with lands were formerly not subject to duty.

Landholder duty is a regime that was introduced to impose duty on acquisitions in landholding entities.

This is Part 3 of a series of articles by our State Taxes Team  on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.  

This is Part 4 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.

It is the time of the year again. The Victorian State Revenue Office (SRO) is currently issuing land tax assessments for the 2019 land tax year.

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.

This is Part 6 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.

This is Part 7 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.

In a recent case of Nifuno Pty Ltd atf Stephen Forbes Pension Fund v Chief Commissioner of State Revenue [2019] NSWCATOD 3, the NSW Civil and Administrative Tribunal (NCAT) considered the application of an available duty concession for the transfer of property in connection with persons changing superannuation funds, including self-managed superannuation funds (SMSFs).