The Victorian Court of Appeal’s recent decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175 has settled that, in Victoria, aggregation applies to the acquisition of shares or units by investors, even in circumstances where the investors are unrelated under the one syndication or capital raising process.

When people separate (whether from a marriage or a de facto relationship), they usually need to sort out how to divide their assets and debts between them. The term ‘property settlement’ therefore refers to the process of negotiating which party is going to keep which assets and liabilities, making the agreement legally binding, and then taking the steps to implement the agreement.

It’s important that you take the appropriate time to come to terms with the separation, ensure that you are in a good headspace and have support systems around you before attending to the legal arrangements for separation. Click here to read some of our practical tips for approaching separation.

Transfer of property due to a change of trustee

The Commonwealth Government has issued its response to the Independent Review of the Franchising Code of Conduct conducted in December 2023, with changes expected in 2025.

Harwood Andrews is proud to announce the reopening of its’ Geelong office after undergoing a state-of-the-art refurbishment over the past 12 months. The firm has also launched a fresh brand identity, showcasing a modernised logo and colours, updated website, and refreshed messaging that emphasises the firm's focus on community, connection, legal knowledge and expertise. 

Property was mistakenly transferred to an unrelated company. Error was found 10 years later, real owners sought exemption to land transfer (stamp) duty. Costs for the responsible law firm pursued, emphasising the importance of due diligence in property transactions.

Take advantage of your tax return this new financial year by investing in your estate planning, and ensure that your hard-earned assets are distributed according to your wishes, with the help of our Wills and Estates team.

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.

The Victorian Government and the wine industry are co-designing a new strategy funded by the 2023-2024 State Budget. Over two years, stakeholders can shape the Victorian Wine Strategy through forums and submissions. Agriculture Victoria's engagement paper invites input on industry issues and opportunities until Sept 1, 2024.

The High Court has ruled on the ‘dominant use test’ for the primary production land tax exemption. In the recent Godolphin case, the multifactorial analysis has been confirmed with no one factor being regarded as determinative. The Court has clarified that the ‘dominant use’ requirement qualifies must be both the lands use as well as its purpose.

The land tax exemption for primary production land has been clarified where land is used for multiple purposes. The dominant use test has been interpreted as an objective assessment where profitability is not determinative.

Harwood Andrews is delighted to have been identified by clients and peers for expertise and abilities in the 2024 Doyles Guide. Doyles Guide is a highly regarded independent annual peer review of the leading corporate law firms and lawyers in Victoria.

On 4 June 2024, the State Taxation Amendment Act 2024 (Act) received Royal Assent. The Act, amongst other significant taxation changes, amends the holiday home exemption by introducing new provisions to section 88A of the Land Tax Act 2005 (LTA).

Taxpayer successfully appeals against Victorian State Revenue Office (SRO) decision that land owned by them was not eligible for the primary production land tax exemption.

The ATO responds to the BPFN ruling, which challenged its stringent stance on non-arm's length income (NALI) in SMSFs. While maintaining the importance of benchmarking, the ruling highlights the validity of commercial assessments in private lending schemes.

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.

School fees, swimming lessons, uniforms, football and dance classes, the list of the ever increasing expenses of raising children goes on. When parents separate, expenses that were once agreed and were paid from joint funds can become a point of contention.

The Victorian Government launches the Regional Tourism Investment Fund 2024, aiding tourism projects in rural and regional Victoria. Grants up to $5M available. Eligibility open to various entities. Apply by July 19, 2024.