Nicholas Clifton

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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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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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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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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.

Are Foreign Surcharge Stamp Duty and Land Taxes Illegal?

Are Foreign Surcharge Stamp Duty and Land Taxes Illegal?

The Federal Government’s Mid-Year Economic and Financial Outlook 2023-24 (MYEFO) (released on 13 December 2023) has again raised the legality of the ability of the States to impose foreign purchaser land transfer (stamp) duty surcharge and foreign owner land tax (together, the foreign surcharges).