Product Category

Is land tax the new stamp duty? Implications for trusts, foreign or foreign controlled landowners, property investors and property developers

The landscape of land tax is continuing to develop, with further changes to the way land tax surcharges operate, particularly in Queensland, New South Wales, Tasmania and Victoria, which require landowners to consider whether changes need to be made now. Meanwhile, NSW Treasury released a draft paper indicating a desire to move from a transaction based land tax system (ie duties) to a broad based annual land tax system, which could well include taxing the sacred family home and the family farm.

This webinar will explore the recent changes relating to land tax and land tax surcharges, including Queensland’s recently commenced land tax surcharge (together with accompanying ex gratia relief measures), recent experience in Victoria, requirements for discretionary trust deeds to be amended, the NSW build-to-rent scheme as well as contemplate what a new land-based tax system might look like and how a transition might be achieved.

This session is intended for a wide audience, but specifically:

• Foreign or foreign controlled landowners with land in Queensland or Victoria needing exemptions from surcharge
• Investors using discretionary trusts to hold land in Queensland, New South Wales, Victoria or Tasmania
• Property developers seeking exemptions or reductions from land tax and surcharges, including build-to-rent schemes
• Advisers seeking the ideal structure to invest in land into the future

Part 7: Ensuring company tax and capital losses are available for later use

• The key eligibility criteria of the continuity of ownership test (COT), same business test (SBT) and similar business test where there are different classes of shares
• The difficulties in raising equity when trying to remain compliant with the COT
• The limitations of the same share test under COT (and potential mitigation strategies)
• How companies can rely on the SBT or the similar business test where there has been a breach of COT
• How to differentiate between the SBT and the similar business test (including comparing TR 1999/9 and LCR 2019/1)
• The inability to satisfy the SBT or the similar business test where the business has been sold
• Planning strategies to optimise emergence from COVID-19
  

Webinar login details will be sent to all delegates prior to the event, please keep an eye out in your inbox.

PLEASE NOTE: Registrations that are received after 5:00pm (AEST) on Monday 28 September will only have access to the webinar recording post-event.