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Victorian State Budget: a focus on cost of living and no new taxes
Client Alert Victorian State Budget: a focus on cost of living and no new taxes
On Tuesday 20 May 2025 Victoria’s first female Treasurer, Jaclyn Symes, delivered her inaugural budget alongside Premier Jacinta Allan. For the first time in five years, the state reported an operating surplus at $600m, with projected surpluses of $1.9b in 2026–27, $2.4b in 2027–28, and $1.5b in 2028–29. Net debt is $167.6b, with it forecasted to increase to $194b by 2028-29.
Kristina Popova
Nick Mellos
| 4 min read | 21 May 2025
Likely the Division 296 tax bill will be reintroduced and passed
Client Alert Likely the Division 296 tax bill will be reintroduced and passed
Following the recent election victory of the Labor Party, it’s likely the Division 296 tax bill will be reintroduced and passed. The results saw government win the control of the House of Representatives as well as the Senate, which will also be controlled with the help from the Greens.
Simon Gow
Adriarnne Ede
| 4 min read | 14 May 2025
Northern Territory delivers first budget under Country Liberal Party
Client Alert Northern Territory delivers first budget under Country Liberal Party
Alongside Chief Minister Lia Finocchiaro, Treasurer Bill Yan focused on reducing crime and increasing public service employee costs in supporting hospital and correction services.
Kristina Popova
David Mullins
| 5 min read | 14 May 2025
Wine not? Primary production land tax exemption no longer on the vine
Client Alert Wine not? Primary production land tax exemption no longer on the vine
For wine producers and vineyard owners, the recent New South Wales Civil and Administrative Tribunal decision in Zonadi Holdings Pty Ltd ATF Wombat Investment Trust v Chief Commissioner of State Revenue [2025] NSWCATAD 84 may spell trouble for their current primary production land tax exemptions.
Kristina Popova
Kristina Popova
| 7 min read | 09 May 2025
Last chance to register your 30 June 2024 R&D activities
Client Alert Last chance to register your 30 June 2024 R&D activities
Last chance to register your 30 June 2024 R&D activities
Rebecca Iwanuscha
Rebecca Iwanuscha
| 4 min read | 17 Apr 2025
APRA sets the tone for private health insurance
Client alert APRA sets the tone for private health insurance
While APRA has acknowledged the achievements of member-owned and not-for-profit funds to-date, it also noted Boards must do more to ensure long-term sustainability of their organisations.
Alison Sheridan
Alison Sheridan
| 4 min read | 10 Apr 2025
Major changes to tax deductibility of GIC / SIC
Client Alert Major changes to tax deductibility of GIC / SIC
The Australian Government announced in the 2023-2024 Mid-Year Economic and Fiscal Outlook measures now contained in Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024, which from 1 July 2025 will result in any GIC / SIC incurred by a taxpayer being non-deductible for income tax purposes.
Daniel Kave
Yan Wong
| 10 min read | 28 Mar 2025
ATO mandates monthly GST reporting for non-compliant small businesses
Client Alert ATO mandates monthly GST reporting for non-compliant small businesses
Starting April 1, 2025, the ATO will require small businesses with GST non-compliance history to switch to monthly reporting.
Anika Reside
Anika Reside
| 4 min read | 19 Mar 2025
APRA proposes reforms to strengthen governance requirements across regulated entities
Insight APRA proposes reforms to strengthen governance requirements across regulated entities
APRA has proposed eight updates to governance and fit and proper requirements for banks, insurers, and superannuation trustees. Businesses must proactively adapt their governance practices to align with these enhanced standards.
Claire Scott
Tari Makanda
Alison Sheridan
| 5 min read | 12 Mar 2025
Financial elder abuse or executor misconduct: funds tracing is the answer
Insight Financial elder abuse or executor misconduct: funds tracing is the answer
With the recent rise in awareness of financial abuse of elderly individuals and the misconduct of executors of deceased estates, it is imperative to validate any suspected wrongdoing in order to pursue legal proceedings.
Thomas Caldow
Kelly Rigby
| 5 min read | 05 Mar 2025
Court rules ATO’s 15-year stand on trusts and Division 7A to be wrong – Bendel case
Client Alert Court rules ATO’s 15-year stand on trusts and Division 7A to be wrong – Bendel case
On 19 February 2025, a pivotal Full Federal Court decision in respect of trust law and Division 7A was handed down by the Full Federal Court in Commissioner of Taxation v Bendel [2025] FCAFC 15 which has confirmed in favour of the taxpayer.
David Montani
Paul Banister
Yan Wong
| 6 min read | 28 Feb 2025
Are VAT and GST systems different from a tariff?
Client Alert Are VAT and GST systems different from a tariff?
Recent discussions have been clouded by misinformation about how VAT systems operate, especially in the context of proposed reciprocal tariffs. This has led to some misconception that VAT systems create unfair trade barriers for US corporations.
Anika Reside
Cliff Chang
Mark Foster
| 8 min read | 20 Feb 2025
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