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| 30 Nov 2023
Hot property! Major NSW and Victorian tax measures to impact property funds
Property funds – and their investors – may now be exposed to state taxation in ways in which they would not previously have been exposed.
Tax| 22 Aug 2023
Payroll tax for medical and other healthcare practices: clarity at last, what do you need to do?
The State Revenue Office Victoria and Revenue NSW have now confirmed, in the recently issued Revenue Ruling PTA-04, that payroll tax may apply to payments made by medical practices to their practitioners.
Tax| 18 Jul 2023
Payroll tax: what are your obligations?
Partner Jim Koutsokostas and Senior Associate Todd Bromwich outline what businesses need to know about their payroll tax obligations.
Tax| 31 May 2023
COVID hangover: VIC budget 2023/24 tax measures
The Victorian Budget 2023/24 includes the new COVID Debt Repayment Plan, designed to claw back some of the deficit blow out from the pandemic. That means tax news.