State taxes year in review: 2023

By Jinny Chaimungkalanont, Mark Peters, and Catherine Nguyen 2023 was a year of extensive changes and proposed reforms to State and Territory taxes, with significant impact on a broad range of transactions. The key changes are highlighted below. Foreign investors: duty and land tax surcharges All Australian States impose duty and land tax surcharges on … Read more

Victorian Commercial and Industrial Property Tax Reform

By Jinny Chaimungkalanont, Mark Peters, and Catherine Nguyen On 11 December 2023, the Victorian Government released the Commercial and Industrial Property Tax Reform Information Sheet (the Information Sheet), a document which supplements the Government’s announcement of the proposed reforms in the 2023-24 Budget. We provided a summary of the announcement of the Victorian commercial and … Read more

Important tax changes in Victoria ahead of further significant reforms

By Jinny Chaimungkalanont and Mark Peters The State Taxation Acts and Other Acts Amendment Bill 2023 was introduced into the Victorian Legislative Assembly yesterday (4 October 2023), proposing numerous changes to Victorian state taxes ahead of further reforms scheduled for 1 July 2024. The Bill contains important changes to the Property Law Act and Sale … Read more

2023-24 Budget Update: Key changes to Australian state taxes

By Jinny Chaimungkalanont, Mark Peters, Dan Miles, and Jonathan Wu New South Wales Treasurer Daniel Mookhey after delaying the 2023-24 budget has today (19 September 2023) handed down the new Labor Government’s first budget with significant changes being made to the state taxes landscape in New South Wales. The new revenue measures are expected to lead … Read more

Duties Alert: Reforms to NSW State Taxes

By Jinny Chaimungkalanont and Mark Peters The New South Wales Government introduced yesterday (1 August 2023) the Revenue, Fines and Other Legislation Amendment Bill 2023 (NSW) which proposes to implement a range of miscellaneous changes to the state taxes legislation in New South Wales. The changes include: broadening the application of aggregation rules which apply … Read more

State and Federal taxes concessions for build to rent developments

By Jinny Chaimungkalanont, Toby Eggleston, and Mark Peters Numerous Federal and State taxes concessions are now available for BTR developments to support and encourage the sector. This note outlines the presently available state taxes and announced MIT withholding tax concessions and issues applicable to a BTR project. As the statutory regimes vary across jurisdictions and detailed … Read more

2023-24 Budget Update: Key changes to Australian state taxes

By Jinny Chaimungkalanont, Mark Peters, Dan Miles, and Jonathan Wu Queensland, South Australia, and Tasmania have now joined the majority of Australia’s States and Territories in delivering their 2023-24 budgets (see our article below, and our original posts here and here). These budgets see a continued focus on build to rent developments with the majority of … Read more

Tax Bites – Episode 7: Stamp duty special!

In this episode stamp duty specialists Jinny Chaimungkalanont and Dan Miles educate income tax partner Toby Eggleston on the latest developments in Australian state taxes. Topics include the Victorian State budget, NSW changes to landholder duty for listed entity takeovers (look out!), NT and WA updates and rounding it out with a summary of 3 important cases handed down in May. … Read more