Legal Insights

New Land Tax Exemption for Social and Emergency Housing
Not For Profit, Property Development, Tax, Property Tax, Social & Affordable Housing Paul Gray Not For Profit, Property Development, Tax, Property Tax, Social & Affordable Housing Paul Gray

New Land Tax Exemption for Social and Emergency Housing

The Victorian State Budget for 2024/2025 has revealed a new tax measure for land utilised in social and emergency housing. This new land tax exemption aims to clarify existing arrangements, ensuring landowners involved in such housing initiatives are not burdened by excessive land tax obligations.

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Improperly Drafted Exclusionary Clause Triggers Foreign Land Tax Surcharge For Discretionary Trust
Property Tax, Business Succession, Succession Planning Alasdair Woodford Property Tax, Business Succession, Succession Planning Alasdair Woodford

Improperly Drafted Exclusionary Clause Triggers Foreign Land Tax Surcharge For Discretionary Trust

This ruling from the New South Wales Civil and Administrative Tribunal (the Tribunal) serves as an important reminder for ensuring that discretionary trust deeds are appropriately amended to prevent the activation of "foreign" land transfer (stamp) duty and land tax surcharges

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