Decoding your 2023 land tax assessment notice
Land tax assessment notices for the 2023 land tax year are in the process of being issued by the State Revenue Office of Victoria.
Dealmakers 2023
Merger and acquisition (M&A) activity was more subdued in 2022 following the frenzy of activity in 2021. Despite the challenging conditions, dealmakers remain upbeat about Australia’s overall deal prospects and mid-market opportunities in the year ahead.
Refund opportunity for duty and land tax surcharges paid by foreign persons
Revenue NSW announced this week that the duty and land tax surcharges imposed on foreign owners of land in NSW is inconsistent with the international tax treaties entered into by the Federal Government with New Zealand, Finland, Germany and South Africa.
No deductions to be allowed for Victoria’s new rezoning tax
Treasurer Tim Pallas has confirmed that the Victorian Government will not introduce regulations to allow deductions in relation to the new Windfall Gains Tax which commences on 1 July this year.
Mixed success for taxpayer in Guardian appeal provides little comfort for trusts
The Full Federal Court has handed down its decision in FCT v Guardian AIT Pty Ltd [2023] FCAFC 3 (“Guardian”) which considered the application of anti-avoidance rules to trust distributions to a corporate beneficiary.
Business Radar 2022: How mid-market decision makers find time to think big
Pitcher Partners’ recent Business Radar, a survey of 400 mid-market business leaders and owners, found 68% of mid-market decision makers wished they could spend more time planning and thinking about ‘big-picture’ decisions – sound familiar? The report also identifies a range of barriers business leaders struggle with that prohibit them from spending time on planning.
Key considerations for NFPs coming into the new year
As we approach a well-deserved holiday break, purpose driven organisations will be looking forward to the new year with many wondering ’What does the coming year hold?’ While we may not hold a crystal ball, there are some common considerations that appear to be holding centre stage for not-for-profit organisations as they look to 2023.
ATO finalises guidance on the anti-avoidance provision dealing with trust distributions (section 100A)
The ATO has finalised draft guidance on the application of section 100A to trust entitlements, staying close to the original released earlier this year. The finalisation comes despite two cases (both for and against the Commissioner) currently on appeal to the Full Federal Court. The guidance provides a very stringent view by the ATO on what may fall within the scope of section 100A. This may create significant risks with respect to trust distributions that will need to be managed very carefully.
Business Radar 2022: Why ESG is a matter of when, not if
Pitcher Partners Business Radar 2022 report asked mid-market businesses how they were thinking about, implementing or reporting ESG (environmental, social and governance) initiatives.
Investing to create great experiences, and drive donor dollars
Those who only look to the past or present are certain to miss the future, as they say in the classics, and this certainly rings true for not-for-profit organisations.