News and announcements
Announcements
We are proud sponsor of Eastern Warriors Football Club for season 2024. https://www.waverleywarriors.com.au/
News
Duty payable on late settlement and default interest
Land Transfer Duty is calculated on the dutiable value of a property which includes late settlement interest resulting from late settlement, or settlement failing and being rescheduled. As such, duty is payable on late settlement interest.
https://sro.vic.gov.au/duty-payable-late-settlement-and-default-interest
Last updated: 4 November 2022
New information and guidance about the windfall gains tax
From 1 July 2023, a windfall gains tax applies to land that is subject to a government rezoning resulting in a value uplift to the land of more than $100,000. In determining the value uplift, all land owned by the person or group and subject to that rezoning is taken into account.
https://sro.vic.gov.au/windfall-gains-tax
Last updated: 12 October 2022
New director ID requirement
If you want to become a director or are already one, you'll need a director ID to help prevent false or fraudulent director identities . A director ID is a unique identifier a director applies for once and keeps forever. It is free to apply on the new Australian Business Registry Services (ABRS) website managed by the Australian Taxation Office,
https://www.abrs.gov.au/director-identification-number/who-needs-apply-and-when
Last updated: 5 November 2021
Commercial rent relief in Victoria: what landlords need to know
To ease pressure on Victoria’s small and medium-sized businesses, Victorian Government has reintroduced the Commercial Tenancy Relief Scheme for landlords whose small business tenants are having trouble paying rent because of coronavirus and ongoing restrictions to trade.
Last updated: 29 October 2021
Land tax reduction
Land tax reduction of 25% and deferral for eligible landlords with a single commercial tenancy. Applications close 30 April 2022.
https://www.sro.vic.gov.au/2021-coronavirus-land-tax-relief
Last updated: 28 October 2021
Stamp duty waiver
Victorian Government has announced in its 2020-21 budget land transfer (stamp) duty waiver for purchases of Victorian residential property with a dutiable value of up to $1 million.
https://www.sro.vic.gov.au/land-transfer-duty-waiver-residential-property-transactions-1-million
Last updated: 22 June 2021