2022-23 Budget Update: Key changes to Australian states taxes

By Mark Peters. 2022-23 Budget Update: Key changes to Australian state taxes Significant stamp duty and land tax changes have been proposed in a number of Australian states and territories, with ramifications for property acquisition and development, mergers and acquisitions, foreign investment and trustees. 21 June 2022 brought us the last of the budget announcements … Read more

Trust Resettlement Series: Amending the trust deed

By Mark Peters. Resettlement risk continues to be one of the most significant risks that trustees and beneficiaries need to manage in the administration of trusts of any kind. The duty and tax consequences of an inadvertent resettlement of some or all of the trust property on new trusts are manifold, including: Read more

Windfall Gains Tax on its way to Victoria

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

Victoria’s Proposed Windfall Gains Tax

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