COVID-19 has brought uncertainty and redefined many standard and customary work practices. One area where it has had a significant impact is fringe benefits tax (FBT) and benefits provided to employees. With the Christmas period fast approaching, many employers will be considering what benefits to provide their staff and clients.
It comes as no surprise that COVID-19 has had a significant impact on Victorian State finances. Total taxation revenue for 2019-20 is $1.16 billion lower than the estimate stated in last year’s Budget.
The Victorian Government has followed the NSW Government’s lead by announcing a 50% land tax discount and exemption from the Absentee Owner Surcharge for eligible new build-to-rent developments, from 1 January 2022 until 1 January 2040. The measure is expected to boost the Victorian housing supply by an estimated 5,000 homes. What are the rules? […]
The Victorian Treasurer has announced a 50% waiver of stamp duty for acquisitions of new residential properties, and a 25% waiver for existing residential properties with a dutiable value of up to $1 million, which will apply to contracts entered into between 25 November 2020 and 30 June 2021. What are the rules about? According […]
The Victorian State Budget released earlier today, shows the Government will attempt to spend its way to economic recovery by investing more than $49 billion over the next 4 years in a multitude of infrastructure projects. The spending will be supported by a record level of debt, which is projected to hit a peak of […]
The compliance phase of the JobKeeper program aims to verify that businesses that are currently receiving (or have previously received) JobKeeper payments are eligible to do so. How can your business prepare for an ATO review? It is important to prepare your business in advance of a potential ATO review of your participation in the […]
Campbell specialises in providing tax compliance, planning and advisory services to businesses that are growing, expanding, consolidating or looking to break into the market. Dedicated to serving the needs of the middle market, Campbell is responsive, forward thinking and recognises that accessing the right technical advice can be the difference between a good or a […]
Annual council rate notices containing property valuations have recently been issued by local councils in Victoria. Rate payers should consider whether the property values on their notices are reasonable, so that an objection can be lodged within the 2 months’ deadline if required. A successful objection could translate into significant savings in the form of reduced rates, a reduced 2021 Land Tax liability or a reduced 2021 Vacant Residential Land Tax liability.
The Victorian Government has extended the land tax relief measures that apply to multi-tenanted properties, making it easier for landlords to apply for land tax relief.
Investment and jobs creation sit at the heart of the 2020-21 Federal Budget, with a raft of measures designed to boost business confidence and keep companies hiring and spending. National Chairman of the Pitcher Partners National Association John Brazzale says the quickfire measures announced tonight are to encourage firms to spend, including allowing the full […]
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