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Articles by Cassandra Marsh
Melbourne Property Investor Alert: New Tax on Vacant Residential Properties
With effect from 1 January 2018, owners of residential properties in certain Melbourne suburbs, which have been unoccupied for more than six months in a calendar year, will be liable to pay the Victorian Government's new "vacant residential land tax" (Tax). The Tax was introduced as part of the 2017 State Budget and is now being implemented by the State Revenue Office (SRO). The Tax commences on 1 January 2018. However, it is based on use and occupation of residential properties in 2017.
Melbourne Property Investor Alert: New Tax on Vacant Residential Properties
With effect from 1 January 2018, owners of residential properties in certain Melbourne suburbs, which have been unoccupied for more than six months in a calendar year, will be liable to pay the Victorian Government's new "vacant residential land tax" (Tax). The Tax was introduced as part of the 2017 State Budget and is now being implemented by the State Revenue Office (SRO). The Tax commences on 1 January 2018. However, it is based on use and occupation of residential properties in 2017.
Notify the ATO of Your Water Rights: Foreign Register of Water Entitlements is Now in Place
As of 1 July 2017, foreign persons must now register their interests in relevant water entitlements with the Australian Taxation Office (ATO). The Water Register has been combined with the existing register of foreign ownership of agricultural land and registration is available on the ATO website. All foreign persons have until 30 November 2017 to register their details with the ATO.
Key Duty and Tax Changes for Victorian Property Purchasers: Bill Released
Bill Clarifies Victorian Government Housing Initiatives Following our alert on 24 March 2017, the State Taxation Acts Amendment Bill 2017 (Vic) (Bill) has now been released and is currently before the Victorian Parliament. K&L Gates has been following the proposed changes to stamp duty, the first home owner grant and property taxes since the housing initiatives were announced by the Victorian Government in March 2017.
Key Duty and Tax Changes for Victorian Property Purchasers: Bill Released
Following our alert on 24 March 2017, the State Taxation Acts Amendment Bill 2017 (Vic) (Bill) has now been released and is currently before the Victorian Parliament. K&L Gates has been following the proposed changes to stamp duty, the first home owner grant and property taxes since the housing initiatives were announced by the Victorian Government in March 2017.
Victorian Purchaser Update: Changes to Stamp Duty and First Home Owner Grant and Introduction of New Vacant Residential Property Tax for Melbourne
The Victorian Government has announced a number of significant housing related duty and tax initiatives to be introduced later this year, including: As the State Taxation Acts Amendment Bill 2017 (Vic) (Bill) has not yet been released, full details of the proposed changes are not yet known.
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