Dora Stilianos

Sep 12, 2023 | lexology.com | Dora Stilianos |Janet Cho

In briefThe Victorian Government announced increases to land tax and changes to transfer duty of commercial and industrial property as part of the 2023-2024 Victorian State Budget, as well as foreshadowing a levy on short-term accommodation bookings. The land tax changes mean investors will likely face increased land taxes or may have to pay land tax for the first time.

Jul 27, 2023 | lexology.com | John Walker |Simone Bridges |Miles Hurst |Amrit MacIntyre |Sebastian Busa |Dora Stilianos | +2 more

In briefRecent changes to income tax, stamp duty and land tax rules will reduce the tax costs of "Build to Rent" projects. These changes are part of a trend in government policy to encourage "Build to Rent" developments, with a view to increasing the supply of rental accommodation in Australia. However, unrecoverable GST on development costs remains a significant cost to developers on Build to Rent projects.