15 January 2025 This is a reminder that notifications for the vacant residential land tax (VRLT) and absentee owner surcharge (AOS) are due today (15 January 2024). Further, changes have been made to the VRLT. The VRLT is a progressive rate based on the land and property values. It applies to residential land with an existing home on it that is vacant more than six months in the calendar year...
15 January 2025 Ringing in the new year, the SRO has issued reminders on changes to Victoria’s tax system, effective 1 January 2025. This includes the short-stay levy, which passed the Victorian Parliament in October 2024. The levy imposes a mandatory 7.5 per cent levy on short-stay properties across Victoria. Limited exemptions are in place. The 7.5 per cent short-stay levy will apply to the...
17 December 2024 Source: ATO < https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/foreign-residents-and-capital-gains-tax/foreign-resident-capital-gains-withholding/capital-gains-withholding-impacts-on-foreign-and-australian-residents> The Australian Government has passed legislation impacting the foreign resident capital gains withholding regime....
04 December 2024 The Senate Economics References Committee has scrutinised Australia’s financial regulatory framework and its impacts on homeownership through an inquiry and report. It sought to identify the effects that the current framework has on homeownership, with the findings largely focusing on first-time homeownership. The terms of reference placed focus on scrutinising the financial,...