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Victorian Build to Rent Concessions introduced

14/10/2021

The Victorian Government has introduced Build to Rent Concessions in the form of a 50% reduction in land tax and an exemption from the land tax Absentee Owner Surcharge. Build to Rent (BTR) projects which will in turn ensure Victorians have access to more rental homes and a greater range of housing options. BTR Benefits […]

Wind Turbines – Fixture or Chattel?

05/10/2021

Valuer General Vic v AWF Propco 2 Pty Ltd [2021] VSCA 274 handed down. The Victorian Court of Appeal has come to an unanimous judgement that ‘above ground assets’ installed on leasehold land are chattels and not fixtures. In the latest in a series of cases on wind turbines installed on leasehold land, the Victorian […]

Wage theft criminalised in Victoria

30/09/2021

Consider the related financial, reputational and compliance risks for your business On 1 July 2021 wage theft became a crime in Victoria and it is expected that other states will follow.  The Wage Theft Bill 2020 creates new employee entitlement offences, comprising wage theft offences and new record keeping offences. It is designed to capture […]

Land Development​ Victorian Final ruling DA-064

28/09/2021

The ruling on the definition of ‘land development’ is of particular relevance to nomination arrangements under a contract of sale of land and to foreign purchasers in Victoria. In September 2020, draft ruling DA-064 on the meaning of the term ‘land development’ was released for consultation. The Victorian Commissioner’s view under the draft ruling was […]

VIC COVID-19 commercial rent relief

27/08/2021

The Governor in Council released the Commercial Tenancy Relief Scheme Regulations 2021 on 24 August 2021. The scheme seeks to provide rent relief to commercial tenants affected by COVID-19 and operates in a similar manner to the Regulations released in March 2020, which expired on 28 March 2021. However, there are key differences including more […]

Victorian Government Purchasing Board procurement requirements

08/06/2021

From 1 July 2021, the Victorian Government Purchasing Board (VGPB) will require more Government agencies to meet its procurement requirements. Government agencies will have until 30 June 2022 to be compliant. Agencies will need to align with the VGPB policies by 30 June 2022. It’s imperative that agencies review their compliance immediately to address any […]

Education Update - Victorian land tax exemption for student accommodation

08/04/2021

The University of Melbourne has successfully argued that land tax is not payable with respect to land, situated on campus, that is leased to a student accommodation provider. Background The University of Melbourne (the University) entered into a number of agreements including the Project Deed, an agreement for lease, and an operator’s side deed between […]

VIC 2020/21 State Budget - Agribusiness

26/11/2020

Key takeaways $300m to address regional telecommunication blackspots $2bn Breakthrough Victoria Fund and the Agricultural College Modernisation Program $30m for the Agriculture Energy Investment Fund Funding to support Victoria’s agricultural exporters Funding to assess regional Victoria’s agriculture industry skill needs. Impact to your business Funding which improves connectivity is welcomed and will help attract more […]

VIC 2020/21 State Budget

25/11/2020

The Victorian Government has delivered its biggest ever spending budget designed to reinvigorate the economy and create Victorian jobs following the impact of COVID-19. Key Takeaways Projected deficit of $23.3bn this year. Net debt will reach $86.7bn in 2021 increasing to $154.8bn by 30 June 2024 The government has set the goal of creating an […]

VIC 2020/21 State Budget - Property & infrastructure

25/11/2020

Key Takeaways Property $6bn Big Housing Build package 12,200 new social and affordable homes $111m to implement planning reforms and reduce red tape to fast-track new projects Stamp duty waiver of 50% on new residential property transactions of up to $1m (worth up to $27,500) Stamp duty waiver of 25% on existing residential property transactions of up […]