The collapse of Holden calls for a scrapping of the luxury car tax
Monday’s announcement of Holden shuttering its Australia-New Zealand lines is a sure sign that the luxury car tax (LCT) has got to go.
Decoding your land tax assessment notice 2020
Land tax assessment notices for 2020 will soon be issued by State Revenue Office Victoria. Confirm the amount payable is appropriate to your circumstances by accessing your downloadable how-to guide to decoding your assessment notice. Download the guide
State taxes relief measures announced following bushfires
The Victorian, South Australian and New South Wales governments have announced a range of tax relief measures for individuals and businesses directly affected by bushfires. These measures include: stamp duty relief for the purchase of replacement homes and motor vehicles, land tax relief for land in affected areas, and payroll tax relief for employers located […]
Vacant Residential Land Tax: Developers beware
Developers with residential projects in inner and middle Melbourne that are undergoing lengthy construction periods should consider the application of the VRLT to their projects, especially where the land was residential in nature before construction commenced.
Construction industry payment defaults a timely reminder to be proactive
In its Small Business Risk Review released in late 2019, commercial credit reporting bureau CreditorWatch found that court actions due to payment defaults in the construction sector had increased by 40 per cent between the second and third quarter of 2019. Businesses exposed to this sector continue to face the risk of insolvency, with the […]
Large private companies will be required to disclose contentious tax positions to the ATO
Large private company groups will be required to complete the Reportable Tax Position (“RTP”) schedule for income years beginning on or after 1 July 2020. The RTP schedule requires taxpayers to report their most contestable and material tax positions to the Australian Taxation Office (“ATO”). A proper tax risk management system can ensure that your […]
NSW Government land tax compliance project and amnesty
The New South Wales Government is cracking down on land tax compliance. Revenue NSW has offered an amnesty period for land owners to voluntarily disclose any non-compliance without incurring an additional penalty on top of their outstanding land tax liability.
What challenges is Australia’s healthcare industry currently facing?
In discussing the key challenges healthcare organisations are facing, three CFOs from Victorian public healthcare organisations, highlighted shared challenges at a recent Health Finance Management Conference.
Changes to Victoria’s land tax primary production exemption
The Victorian Government has introduced changes to Land Tax Act 2005 (LTA) in the State Taxation Acts Further Amendment Bill 2019 which amends the primary production land (PPL) exemption in section 67 of the LTA.
Review of Australia’s corporate tax residency rules
The Board of Taxation has provided Pitcher Partners the opportunity to make comments on their ‘Corporate Tax Residency Consultation Guide’ (the Consultation Guide). The full submission prepared is available via the link below.