We previously talked about how the recent SA land tax changes have significant impacts on trusts (particularly discretionary trusts) that own land (see that here). Those changes mean that trusts will see a substantial increase in their land tax bill from 1 July 2020 unless they nominate one of the trust’s beneficiaries to be a [...]
You may have recently received a letter from RevenueSA asking you to take action in relation to your trust by 3 June 2020. This is because the SA Government has recently made changes to its land tax law. Find out about your options.
Avoid Additional Stamp Duty in Victoria – Exclude Foreign Beneficiaries from Your Discretionary TrustAndrew2020-05-18T08:20:24+09:30
The Victorian State Revenue Office (SRO) has announced that from 1 March 2020 it has adopted a new approach in applying the ‘foreign purchaser additional duty’ (FPAD) provisions of the Duties Act 2000 (Vic) to discretionary trusts. Make sure you don't get caught by this additional 8% of duty.