There have been several recent amendments relating to the charity exemptions available regarding land tax. The previous State Revenue Office ruling LTA-009 has been replaced with LTA-009v2 in reference to the exemptions under section 78B and 78C of the Duties Act 2000 introduced by the State Taxation Amendment Act 2024 and section 78D introduced by the State Taxation Further Amendment Act 2024.

This new ruling has provided important clarification on aspects of land tax exemptions available to charities as well as filled necessary gaps in the relevant legislation.

The Attorney-General has announced reforms to Australia’s bankruptcy laws which seeks to reduce the stigma associated with entering into bankruptcy and to ensure that Australia’s bankruptcy system is fairer and operates in the best interests of all Australians.