Landholder Duty Aggregation
A Guide to Understanding Land Tax: Part 3 – Foreign (Absentee Owner) surcharge and the vacant residential land tax surcharge
As discussed in Part 1 and Part 2 of this series, land tax is a state and territory tax levied on the total taxable value of land held by taxpayers in particular jurisdictions. In the case of foreign owners who are deemed to be absent from their properties, additional land tax may be levied on the taxable value of such properties. In Victoria, the foreign person land tax surcharge is known as the absentee owner surcharge regime.
Sladen Snippet – Mental Health and Wellbeing surcharge on businesses with more than $10 million wages
A Guide To Understanding Land Tax: Part 4 Aggregation, Grouping and “Degrouping”
As discussed in Part 1 and Part 2 of this series, land tax is levied on the total taxable value of land held by a taxpayer in a particular jurisdiction. Land tax is then levied on a progressive graduated scale. That is, the higher the value of land that you own the higher the rate of land tax you pay.
CGT Liability Of Foreign Beneficiaries
A Guide to Understanding Land Tax: Part 5 Valuations
As discussed in this Land Tax Series, land tax is a state and territory tax levied on the total taxable value of land held by taxpayers in particular jurisdictions. Land tax is assessed on a calendar year basis on the land you own at midnight on 31 December.
Tribunal upholds penalties for an SMSF’s breach of the borrowing restrictions
In the recent decision of FYYB v FC of T 2021 ATC 10-592; [2021] AATA 3567, 5 October 2021, the Australian Administrative Tribunal (AAT) affirmed the Commissioner of Taxation’s (Commissioner) decision to disallow an objection by the taxpayer to an administrative penalty of $7,500 imposed on a self managed superannuation fund (Fund) under the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act).
Sladen Legal Has Moved Up!
Addy – taxpayer successful in the ‘backpacker tax’ case
The High Court recently allowed the taxpayer’s appeal in the case of Addy v FCT [2021] HCA 34 that concerned the so-called ‘backpacker tax’.
Multiple Party Investment Trust Structures – Part 1: Federal Taxes
Residency – Part 2: Individuals
Multiple Party Investment Structures – Part 2: Superannuation (SMSF) Issues
Sladen Snippet - Legislation released for welcome superannuation changes
As previously discussed here, the May 2021 budget announcements included a number of changes aimed at increasing flexibility in the superannuation system. Some of these key changes have now been introduced to Parliament as part of the Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 (Bill).
Sladen Legal’s Tax Practice Recognised in Doyles Guide Victoria 2021
Sladen Legal has been recognised as a Third Tier Leading Tax Law Firm – Victoria, 2021 in the recently released Doyles Guide Victoria, 2021. Doyles Guide is a comprehensive and independent directory which showcases Australia’s best firms and lawyers.
Windfall Gains Tax
A guide to understanding Land Tax Part 6: Principal place of residence exemption
Sladen Snippet – TD 2021/D5 genuine disposal restrictions in employee share schemes
Sladen Snippet - Company Director Identification Numbers are Here
Windfall Gains Tax - legislation released – certain concessions granted
In line with the 2021/22 Victorian Budget announcements and following targeted consultations with various stakeholders, the Victorian Government has recently tabled a Bill to introduce the windfall gains tax - Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 (Bill).