JobMaker Hiring Credit: Registrations now open
As part of its 2020-21 Federal Budget, the Government announced a new JobMaker Hiring Credit to incentivise businesses to hire additional employees.
The impact of COVID-19 on Fringe Benefits Tax
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.
Victorian State Budget 2020-21: State revenue
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.
Victorian State Budget 2020-21: Property developers and clubs
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? […]
Victorian State Budget 2020-21: Home buyers and property investors
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 […]
Victorian State Budget 2020-21: Analysis
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 […]
ATO commences JobKeeper reviews
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 […]
Objecting to the value of your property on your council rates notice
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.
Victorian land tax relief measures for multi-tenanted properties
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.
The Federal Budget takes the path of least resistance
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 […]