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Can you Mislead or Deceive Someone if You Have Honestly Relied on Your Lawyers Advice? A Case Study on ASIC v Retail Employees Superannuation Pty Ltd

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Can you Mislead or Deceive Someone if You Have Honestly Relied on Your Lawyers Advice? A Case Study on ASIC v Retail Employees Superannuation Pty Ltd

The Federal Court of Australia’s judgment in ASIC v Retail Employees Superannuation Pty Ltd highlights that if a corporation honestly relies on advice from their lawyers that may provide reasonable grounds to defend the making of a representation that concerns the present state of affairs.

The Federal Court found that representations made by Retail Employees Superannuation Pty Ltd (REST) regarding their rules and practice were opinions expressed as to the law based on reasonable grounds due to reliance on advice received from their lawyers and other trusted sources. Therefore, the representations made could not amount to misleading or deceptive conduct.

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Uber not liable for payroll tax – New South Wales Supreme Court decision

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Uber not liable for payroll tax – New South Wales Supreme Court decision

The New South Wales Supreme Court has that Uber is not liable for payroll tax on payments made to drivers in Uber Australia Pty Ltd v Chief Commissioner of State Revenue [2024] NSWSC 1124.

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Sladen Snippet - New Victorian Short Stay Levy Bill 2024 introduced into Parliament

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Sladen Snippet - New Victorian Short Stay Levy Bill 2024 introduced into Parliament

A new tax will be imposed on both short stay service platforms and others who offer direct bookings of short stay accommodation. The levy will apply to stays less than 28 days but will exclude a homeowner’s principal place of residence or commercial residential premises (i.e. a hotel, motel etc).

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Imbree Appeal - NSW taxpayer denied stamp duty exemption for transfer from SMSF to member

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Imbree Appeal - NSW taxpayer denied stamp duty exemption for transfer from SMSF to member

A taxpayer has lost an appeal in New South Wales on the ground that a potential exemption did not apply to agreements to transfer. This has wide implications for other transactions.

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Oliver Hume Appeal - Victorian Landholder Duty Applies on Capital Raising

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Oliver Hume Appeal - Victorian Landholder Duty Applies on Capital Raising

On 8 August 2024, the Victorian Court of Appeal in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175 confirmed that landholder duty applied on the separate acquisition of shares by 18 investors under a single capital raising.  The Court held that that capital raising amounted to substantially one arrangement and therefore was a relevant acquisition for landholder duty purposes.

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Tao - Becoming a sole director of a corporate trustee triggers landholder duty despite no acquisition of units in a unit trust

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Tao - Becoming a sole director of a corporate trustee triggers landholder duty despite no acquisition of units in a unit trust

The VCAT decision of Tao v Commissioner of State Revenue (Review and Regulation) [2024] VCAT 637 has confirmed the breadth of the Victorian landholder duty change of control provisions - despite no acquisition of units in a unit trust.

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Water Pipeline Subject To Duty As “Goods” For The Purpose Of The New South Wales Landholder Duty Provisions in Conexa Syndey Holdings

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Water Pipeline Subject To Duty As “Goods” For The Purpose Of The New South Wales Landholder Duty Provisions in Conexa Syndey Holdings

On 24 May 2024 the New South Wales Supreme Court held that landholder duty applied to value of a water carrying pipeline in Conexa Sydney Holdings Pty Ltd v Chief Commissioner of State Revenue (2024] NSWSC 628.

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New South Wales State Budget 2024-25 – Increase to foreign surcharges and payroll tax relief for GP contractors

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New South Wales State Budget 2024-25 – Increase to foreign surcharges and payroll tax relief for GP contractors

The New South Wales State Budget 2024-25 is a mixed bag, containing an increase to foreign surcharges, but also payroll tax relief for GP contractors. The tax-free threshold for land tax will also remain the same, so more landowners will be subject to land tax as property values rise.

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Sladen Snippet – Merristock – primary production exemption applies as trust can beneficially own shares

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Sladen Snippet – Merristock – primary production exemption applies as trust can beneficially own shares

In a case run by Sladen Legal, Merristock Pty Ltd v Commissioner of State Revenue (Review and Regulation) [2024] VCAT 535, the taxpayer has successfully appealed against a Victorian State Revenue Office (SRO) determination that land owned by the taxpayer was not eligible for the primary production land tax exemption.

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Godolphin case: High Court decision considers the “dominant use” test under the NSW land tax primary production exemption

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Godolphin case: High Court decision considers the “dominant use” test under the NSW land tax primary production exemption

The High Court has dismissed an appeal by Godolphin Australia Pty Ltd (Godolphin) and confirmed that it cannot claim the primary production land tax exemption, as it was unable to show that the “dominant use” of its properties was for primary production where it also had substantial horseracing activities.  The decision illustrates the issues that can arise when primary production land is used as part of business models that include other interrelated activities.

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GP Tax – Payroll tax changes flagged in Victoria

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GP Tax – Payroll tax changes flagged in Victoria

In a major backdown, the Victorian State Government has agreed to reduce some of the impact of the recent policy shifts towards taxing general practitioners as employees for payroll tax purposes.

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Bill Implementing New Commercial and Industrial Property Tax Replacing Stamp Duty From 1 July 2024 Passed Without Amendments - Future Changes Flagged

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Bill Implementing New Commercial and Industrial Property Tax Replacing Stamp Duty From 1 July 2024 Passed Without Amendments - Future Changes Flagged

The new Commercial and Industrial Property Tax reform that progressively abolishes stamp duty on commercial and industrial property from 1 July 2024 is one of the most significant Victorian property tax reforms in the past 30 years.  Anyone looking to buy or sell commercial or industrial property will be impacted.

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State Taxation Amendment Bill 2024 – Welcome expansion of holiday home exemption for vacant residential land tax to properties in trusts

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State Taxation Amendment Bill 2024 – Welcome expansion of holiday home exemption for vacant residential land tax to properties in trusts

On 14 May 2024, the State Taxation Amendment Bill 2024 (Vic) (the Bill) was released after having its second reading speech in the Victorian Legislative Assembly.

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Victorian State Budget 2024-25 - Small Changes to State Taxes

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Victorian State Budget 2024-25 - Small Changes to State Taxes

On 7 May 2024, the Victorian State Government presented the Victorian State Budget for 2024/25.

No substantial tax measures were announced.  There were only new State Tax measures in the Victorian State Budget 2024-25 which are listed within this article.

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Bill introduced to implement new Commercial and Industrial Property Tax that progressively replaces Land transfer (stamp) duty from 1 July 2024

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Bill introduced to implement new Commercial and Industrial Property Tax that progressively replaces Land transfer (stamp) duty from 1 July 2024

The Victorian State Government has introduced a highly anticipated bill to implement the new Commercial and Industrial Property Tax with only three months to go until the 1 July 2024 start date. Those looking to acquire commercial or industrial properties or plan restructures within existing corporate/family groups should consider the interaction of the new regime with existing taxes.

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Significant changes to Victorian land tax assessments to result in higher land tax bills

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Significant changes to Victorian land tax assessments to result in higher land tax bills

Land tax assessments are now being issued in Victoria, with landowners finding their land tax bills to be substantially higher than expected, due to significant changes from 1 January 2024.  Hundreds of thousands of taxpayers will also be receiving land tax assessments for the first time altogether.

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Victoria’s new commercial and industrial property tax – a tale of two regimes

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Victoria’s new commercial and industrial property tax – a tale of two regimes

As we’ve noted previously, commercial and industrial properties sold or transferred on or from 1July 2024, will enter the new commercial and industrial property regime. Broadly, the regime will operate such that future transfers will not trigger land transfer (stamp) duty but rather the property will be subject to a (further) set of land tax, known as commercial and industrial property tax (CIPT).

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Vacant Residential Land Tax Changes and Significant Actions Required by Landowners

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Vacant Residential Land Tax Changes and Significant Actions Required by Landowners

Changes to the Victorian vacant residential land tax (VRLT) will take effect from 1 January 2025 and 1 January 2026.

As vacant residential land tax assessments for 2025 will be based on usage from 1 January 2024 to 31 December 2025- it is critical that landowners are across the changes now.

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Holiday homes to be hit by Victoria’s vacant residential land tax unless usage documented

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Holiday homes to be hit by Victoria’s vacant residential land tax unless usage documented

Expansion of the Vacant Residential Land Tax, from 1 January 2025, will start to capture holiday homes outside of inner/middle Melbourne. Therefore, holiday homeowners should consider their vacant residential land tax position.