In this seminar from our 2017 Risk Management Regional Tour, LPLC Risk Manager, Matthew Rose, looks at regional claims for sale and purchase of small business and advises practitioners how to avoid claims risks.
Download seminar handout notes
LPLC has created this Key Risk Checklist for practitioners dealing with Personal Property Securities matters. It covers practice management basics that will help you develop your approach.
The Commercial and Industrial Property Tax Reform Bill (the Bill) was introduced into the Victorian Parliament on 20 March 2024. The reforms are expected to pass into law in early May before commencing on 1 July 2024 (Note: the Act was passed in the same terms as the Bill).
Changes to stamp duty and the introduction of an annual property tax on commercial and industrial land under the Commercial and Industrial Property Tax Reform Act commenced 1 July 2024. Practitioners acting in matters involving commercial or industrial land in Victoria need to be aware of the full extent of these significant reforms.
LPLC has provided comprehensive information about the reforms in the article Commercial and Industrial Property Tax reform in Victoria — What you need to know, and a webinar Commercial and Industrial Property Tax (CIPT): Navigating the new reform.
Here we provide some additional answers to specific questions we have received from practitioners. We recommend practitioners use this information to gain a full understanding of the reforms and their practical application.
The LPLC Annual Report for 2023–2024 was tabled in the Victorian Parliament on 31 October 2024.
The Victorian Government has introduced the State Tax Amendment Bill 2024 which, amongst other taxation changes, will (if passed) broaden the holiday home exemption to allow shareholders of companies, as well as certain beneficiaries of trusts and relatives of those shareholders and beneficiaries, to satisfy the exemption for a property owned by a company or trust.
The State Taxation Acts and Other Acts Amendment Act 2023 received Royal Assent on 12 December 2023. The new law introduces significant property tax changes in Victoria with effect from 1 January 2024.
