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The Victorian Government has continued with its intention to introduce a new windfall gains tax (WGT) in respect of gains made by landowners arising from increases in land value following rezoning of land. Following consultation with stakeholders, further details about the value mechanism and rezoning and transaction exemptions have been announced. Read more
As part of the Victorian Budget 2021/22, the Victorian Government announced a new windfall gains tax as a ‘value capture mechanism’ in respect of gains made by landowners arising from increases in land value following rezoning of the land. Few details have been announced to date and legislation has not been introduced to parliament. Read more
The State Governments of New South Wales and Victoria have recently announced shake-ups to their respective stamp duty regimes as part of their 2020-21 State Budgets, with NSW in particular proposing significant changes to property transfer taxes. Read more
The transition to electronic conveyancing (eConveyancing) has a been a long time coming, with legislation first passed by the NSW Parliament to facilitate the process in 2012.[1] A transition timetable was introduced in 2017 by the NSW Government following its announcement that the transition into eConveyancing would be accelerated in 2016. With version 5 of … Read more
