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Queensland State Budget 2015-16

16 Jul 2015

On 14 July 2015, first-time Queensland Treasurer, Curtis Pitt, handed down the Labour government’s term-defining State Budget, promising Queensland’s largest surplus in nearly a decade for the 2015-16 year.

New South Wales Real Estate & Construction industry update

09 Jul 2015

The New South Wales (NSW) residential market has reported strong growth for the year ending 31 May 2015. There was a total rise of 15.01% for all dwelling types, however for the month of May house prices fell 0.23% and units fell 2.76% according to the latest figures.

Queensland Real Estate & Construction industry update

09 Jul 2015

High rise, high density and intensive developments have been the subject of significant public debate in Brisbane in recent months.

South Australia Real Estate & Construction industry update

09 Jul 2015

On Thursday 20 June 2015, the South Australian State Government handed down the 2015/2016 Budget, and announced fundamental changes to the application of stamp duty.

Western Australia Real Estate & Construction industry update

09 Jul 2015

The State Budget had three major pillars, the first being a repeat of last year’s easy target, an increase in land tax rates and some changes to the thresholds, which is expected to raise an additional $182 million in 2015-16 and a total of $826 million over the next four years.

Australian Real Estate vulnerable to money laundering

09 Jul 2015

AUSTRAC has released two new reports to help Australian businesses identify various money laundering techniques and methodologies used through real estate agents and other professional advisors.

Foreign home investors beware

09 Jul 2015

Following on from the announced raft of fees for foreign home owner applications, starting from $5,000 for properties under $1 million, strong action is being undertaken to enforce the foreign home investor compliance, with the regulation of foreign investment passing to the Australian Taxation Office.

Property now Australia’s biggest industry

09 Jul 2015

The property industry has almost doubled its contribution to Australian GDP in the last decade and now has the economy’s largest footprint finds new research from AEC Group.

New restrictions on entertainment salary packaging

03 Jul 2015

Draft legislation has now been released by the Government relating to the capping of salary packaged entertainment fringe benefits. The key changes to apply from 1 April 2016 are:

Employee Share Scheme reporting deadline fast approaching

01 Jul 2015

Reporting for the tax year ending 30 June 2015 is due for lodgement shortly. If an ESS taxing point has occurred during the 2015 tax year in respect of discounted ‘ESS Interest’ (ie. shares or rights) your company (or a holding company) has provided to your employees, directors or possibly consultants/contractors (collectively referred to as ‘Employees’), then the company will be required to provide an ESS statement to the relevant Employee by 14 July 2015.