Victorian passes COVID-19 land tax relief and commercial tenancy obligations

By Neil Brennan on 12/05/20 - Mins to read: 3 minutes

On 1 May 2020, the Victorian Government passed the COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 (Regulations). The Objective of the Regulations is for landlords and tenants work cooperatively and act reasonably and in good faith to implement measures to apply to tenants and landlords under eligible...
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Can the construction industry drive the economic recovery from COVID-19?

By Neil Brennan on 12/05/20 - Mins to read: 3 minutes

The property & construction industry has underpinned Australian economic growth for much of the 2000s. It is therefore reasonable to expect that its ongoing success is paramount to supporting Australia’s economic recovery from the COVID-19 pandemic. The length and depth of the drop in the economy is hard to predict,...
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Important Queensland land tax update

By William Buck on 12/05/20 - Mins to read: 3 minutes

When considering tax and property investing, many people will tend to consider negative gearing and capital gains tax. These are major tax considerations. However, you should also be considering land tax, which is a tax levied by each state. In Queensland, land tax applies when as a company or trust...
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Are You Liable for the New Victorian Vacant Residential Property Tax?

By Neil Brennan on 12/05/20 - Mins to read: 3 minutes

Selected inner and middle ring Melbourne suburbs that have been vacant for six months or more may be subject to a recently introduced tax, effective 1 January 2018. So, is your property affected? Consider the following questions to help you determine if you are liable for the Victorian Vacant Residential...
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Sell your property now, or risk a big tax bill

By William Buck on 12/05/20 - Mins to read: 3 minutes

Do you live overseas and own a house in Australia? If so, you may have less than five months to act before you’re stuck with a large tax bill on the sale of that property. Proposed tax changes In May 2017, the Australian Government proposed changes to the existing capital...
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Small companies may become large as a result of additional assets recognised under the new lease standard

By William Buck on 12/05/20 - Mins to read: 3 minutes

All Australian business leases will be subject to new accounting rules from January 1 2019, which could have significant impact on an entities overall financial position. Cate Pozzi, Senior Manager Network Risk, at William Buck Chartered Accountants and Advisors, says under the new rules a small proprietary company meeting the...
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