Recorded Webinar: Land Tax - There's a Lot Going On, So How do You Convey It

With states and territories increasingly looking at land tax as a tool to increase their revenue base, there is no shortage of changes being made in that space. However, tax practitioners also need to be mindful of the Tax Practitioners Board’s reminder that “you should be aware that if your work in relation to State or Territory tax laws constitutes legal services, it will be governed by State or Territory legal profession legislation and regulated by a law society. Generally, legal work can only be done by an Australian legal practitioner in accordance with the relevant legal professional legislation in the applicable jurisdiction”. This session provides an update on topical land tax issues, along with some tips in advising on and administering those issues, including:

• Recent land tax rate changes across the country
• The land tax concessions for build-to-rent developments
• Changes to:
  • the absentee owner surcharge (Vic.)
  • the vacant residential land tax (Vic.)
  • the settlement adjustment apportionments for land tax (Vic.)
• How revenue authorities are using data matching to capture properties that have been escaping the land tax net, including:
  • properties owned in a trust where required documentation was not completed on purchase to impose the tax
  • the use of utilities records to establish property use
• The amendment periods and penalties that are being applied by the revenue authorities
• Tips to assist tax practitioners with ensuring the provision of services in relation to land tax laws are lawful and not considered legal services