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First fine dealt for unauthorised foreign investor property purchases
Client Alert First fine dealt for unauthorised foreign investor property purchases
A foreign real estate buyer has been penalised $250,000 by the ATO after purchasing Australian residential properties without being authorised by the Foreign Investment Review Board (FIRB). It was found that in addition to owning two established properties that were also in breach, the investor had purchased a further four unauthorised properties.
Sian Sinclair
Sian Sinclair
| 2 min read | 19 Apr 2022
Windfall Gains Tax
Client Alert Windfall Gains Tax
WGT aims to ensure significant land value increases from government rezoning decisions are “shared with the Victorian community” for critical infrastructures, such as public transportation and schools.
Kristina Popova
Kristina Popova
| 8 min read | 14 Oct 2021
WA Budget 2021-22
Client Alert WA Budget 2021-22
Yesterday, the Western Australian Premier and Treasurer, The Hon. Mark McGowan, delivered his fifth state budget – first as Treasurer – spending big on infrastructure, health, education, and police.
David Hodgson
David Hodgson
| 3 min read | 10 Sep 2021
Act now to avoid NSW foreign surcharges on discretionary trusts
Client Alert Act now to avoid NSW foreign surcharges on discretionary trusts
Nearly all discretionary trusts are taken to be foreign persons in NSW.
2 min read | 27 Nov 2020
Taxing the family home edges closer to reality in NSW
Insight Taxing the family home edges closer to reality in NSW
Following on from David Thodey’s draft ‘Supporting the Road to Recovery’ report (Draft Report), released on 1 July 2020 (and commented on by us here on 16 July 2020), the NSW Budget handed down 17 November has confirmed the State Government’s proposal to replace stamp duty with a broad based property tax. If implemented, it will comprise the biggest shift in state taxes since World War 2.
6 min read | 18 Nov 2020
Queensland duty exemptions for eligible small business restructures
Client Alert Queensland duty exemptions for eligible small business restructures
Further to our article regarding the Treasurer’s announcement on 9 September 2020, the Queensland Government yesterday released administrative guidelines for introducing a duty exemption for some small business restructures in the form of Public Ruling DA000.16.1.
5 min read | 13 Oct 2020
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Insight Victorian Premier announces additional $3b business support package
The Premier of Victoria, the Hon Daniel Andrews, yesterday announced a major $3b stimulus package designed to assist Victorian businesses through the “second wave” and beyond.
Nick Mellos
Nick Mellos
| 14 Sep 2020
Grant Thornton Australia
Insight Record deficit but some early signs of recovery
Record deficit but Australia remains one of the strongest performing countries in the world
23 Jul 2020
Grant Thornton Australia
Insight Is an annual tax on the family home the fairest way forward?
David Thodey’s draft ‘Supporting the Road to Recovery’ report highlights a number of clear areas of tax reform.
16 Jul 2020
Changes to Duties and Land Tax in NSW impacting M&A deals and discretionary trusts now passed
Client Alert Changes to Duties and Land Tax in NSW impacting M&A deals and discretionary trusts now passed
On 22 October 2019, the NSW Government tabled the State Revenue Legislation Further Amendment Bill 2019 which proposes material changes to the Duties and Land Tax regimes in NSW.
4 min read | 19 Jun 2020
WA Budget cash splash in lead up to State election
Client Alert WA Budget cash splash in lead up to State election
Treasurer Ben Wyatt delivered the Western Australian State Budget on 9 October 2020, the first of the State and Territory budgets of 2020.
David Hodgson
David Hodgson
| 4 min read | 22 Aug 2019
Western Australia State Budget 2019-20
Client Alert Western Australia State Budget 2019-20
Treasurer Ben Wyatt delivered the Western Australian State Budget on 9 May 2019. This Budget promotes jobs growth and encourages investment in key sectors of the economy.
18 min read | 09 May 2019
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