Key points The new tax is still subject to legislative passage with a stated commencement of 1 July 2025. It will mean a tax of 15% on the proportion of a super fund member’s ‘earnings’ above $3m across a financial year Individuals with large super balances should be considering the best approach if the new […]
Key points: The issue of negative gearing continues to get airplay in political discussions and media in the housing affordability & supply space, but by history remains unpopular and probable political suicide to implement. Although the ATO may have existing powers to push back on this and the tax arbitrage with CGT concessions, in practice […]
Our cross-border tax experts Terry Hoban and Ellen Fimmano discuss some of the practical challenges and important considerations that arise for organisations, their employees, and owners expanding into the USA, including: Cross-border entity structuring & tax considerations Employee payroll & HR set-up Equity plans, pensions, and employee benefits Individual tax planning for Australian executives relocating […]
Key points: The stamp duty concession for off-the-plan properties in Victoria extended to investors and the price cap removed for all buyers Barriers to bringing projects to market still need to be addressed Early investor engagement is crucial to the development process The announcement that the stamp duty concession for off-the-plan properties in Victoria has […]
The Duties Amendment (More Homes) Bill 2024 (Vic) is now before the Victorian Parliament. The Bill temporarily expands the stamp duty concession for off-the-plan purchases, which allows more purchasers (including investors) to access significant stamp duty savings. What is the bill about? On 29 October 2024, the Duties Amendment (More Homes) Bill 2024 (Vic) (“the […]
The Victorian Government has announced that stamp duty will be slashed for those who buy off-the-plan apartments, units and townhouses within the next 12 months. Craig Whatman, Tax Partner at Pitcher Partners Melbourne speaks to Ross and Russ on 3AW Breakfast about the impact this will have on buyers and the property industry:
In a recent decision of the AAT, ZWBX v FCT [2024] AATA 2065, a taxpayer was denied a tax offset in respect of their investment in a company that was purporting to be an Early Stage Innovation Company (“ESIC”) based upon its self-assessment under the ‘principles-based test’. The AAT’s finding was that the company did […]
The ATO has announced that assurance reviews starting from 1 July 2024 will rate entities within the investment industry on their third-party data tax control frameworks. Large super funds, managed funds and insurance companies need to have adequate policies, procedures and controls in place to meet their tax risk management obligations. Background Investment entities, including […]
Levi Holdsworth takes immense pride in his role at Pitcher Partners, where he is dedicated to serving the middle market with a personal touch. With 15 years of industry experience, he specializes in high-net-worth individuals, family offices, small to medium-sized businesses, property development, construction, hospitality, and entrepreneurial start-ups. Bringing a unique perspective as the son […]
As the financial year draws to a close, it is time to start thinking about whether your year-end tax planning is in order. Tax planning requires consideration of income and deductions for the year as well as whether compliance requirements have been met (e.g. appropriate elections have been made on a timely basis and other […]
Thank you for you interest