Land Tax

 
We offer comprehensive and practical advice on land tax matters to a wide range of domestic and overseas corporate clients and high net worth individuals.

This involves matters in all states and territories of Australia. This includes:

  • advising on all aspects of land tax, including application of absentee owner surcharge and eligibility for exemptions (e.g. principal place of residence exemption, primary production exemptions and aged care exemptions)
  • advising on the application of tax on vacant land, including identifying whether the vacant land is a capital asset or a trading stock and eligibility for exemptions
  • advising on structuring, including grouping and de-grouping of properties and taxpayers
  • providing certainty for taxpayers by obtaining private rulings on their behalf from state revenue authorities
  • assisting clients with investigations, reviews and audits instigated by state revenue authorities
  • challenging land tax assessments, including lodging objections to assessments of land tax and appeals in the tribunals and courts
  • where appropriate, accessing informal dispute resolution mechanisms for clients to resolve land tax disputes, including settlement discussions, mediation and compromise assessments
  • assisting clients with valuations and valuation disputes, including briefing of expert valuers and challenging State Revenue Authority valuations by way of objections and appeals
  • achieving remission of penalty tax and interest by way of submissions to state revenue authorities
  • obtaining second opinions from senior counsel on complex land tax issues, and
  • reviewing and making recommendations on trust documents regarding whether a taxpayer is an absentee owner and liable to the surcharge.

Experience

  • Providing advice on all aspects of land tax, including application of absentee owner surcharge and eligibility for exemptions (eg principal place of residence exemption, primary production exemptions, aged care exemptions).
  • Providing advice on the application of tax on vacant land including identifying whether the vacant land is a capital asset or a trading stock and eligibility for exemptions.
  • Providing advice regarding structuring, including grouping and de-grouping of properties and taxpayers.
  • Providing certainty for taxpayers by obtaining private rulings on their behalf from State Revenue Authorities.
  • Assisting clients with investigations, reviews and audits instigated by State Revenue Authorities.
  • Challenging land tax assessments including lodging objections to assessments of land tax and appeals in the Tribunals and Courts.
  • Where appropriate, accessing informal dispute resolution mechanisms for clients to resolve land tax disputes, including settlement discussions, mediation and compromise assessments.
  • Assisting clients with valuations and valuation disputes, including briefing of expert valuers and challenging State Revenue Authority valuations by way of objections and appeals.
  • Achieving remission of penalty tax and interest by way of submissions to State Revenue Authorities.
  • Obtaining second opinions from Senior Counsel on complex land tax issues.
  • Reviewing, providing advice and making recommendations on trust documents in relation to whether a taxpayer is an absentee owner and liable to the surcharge.

Related thinking

Tax| 08 Aug 2022

Employee share option plans – the top seven things startup companies should watch out for when making new grants

We outline our top seven tips for new grants under existing employee share option plans.

Tax| 05 Aug 2022

Financial Services in Focus – Issue 70

In this edition, we consider exposure draft legislation to adjust how faith-based super products are treated under the annual performance test, and much more.

Tax| 20 Jul 2022

Financial Services in Focus – Issue 69

In this edition, we consider new financial requirements for directors of CCIVs, updated guidance from AUSTRAC on transaction reporting, and much more.

Tax| 11 Jul 2022

Customs tariff concession dispute for driverless trains never seems to leave the station…

The Full Federal Court recently delivered its judgment following an appeal made by the Comptroller-General of Customs about the tariff of driverless trains.