by Chan & Naylor | Nov 13, 2020 | Property, Tax and Accounting
Discretionary Trusts in NSW: Foreign Persons – Surcharge land tax & purchaser duty Recently enacted changes to purchaser duties and land tax arrangements will expand surcharges for trusts which include foreign persons as beneficiaries. Legislation passed to amend...
by Chan & Naylor | Nov 13, 2020 | Property, Tax and Accounting
Absentee Owner Surcharges | Duties Act 2000 (Victoria) From the 2020 land tax year, an absentee owner surcharge of 2% applies to Victorian land owned by an absentee owner. The surcharge was 1.5% from 1 January 2017 and 0.5% for the 2016 land tax year. The absentee...
by Chan & Naylor | Oct 19, 2020 | Business
Key insights Bringing forward personal income tax cuts should result in an immediate cash increase for most employees. Low income earners will receive additional support through the increase to the Low Income Tax Offset and maintaining the current Low and Middle...
by Chan & Naylor | Oct 19, 2020 | Business
Enhanced access, quality and safety in aged care The 2020-21 Budget provides a record level of $2.0 billion support into aged care over four years to progress reforms to deliver improved outcomes for consumers and providers. Support for consumers includes: $1.6...
by Chan & Naylor | Oct 19, 2020 | Business
The Budget has introduced temporary measures intending to stimulate business investment and deliver further cash flow benefits. Key insights To assist eligible businesses impacted by COVID-19, temporary tax loss carry-back measures have been introduced to offset...