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    Asset Ownership Time Bomb!!!!! Personal Property Security Rules to Start 31 January 2012.

    From 31 January 2012 if you do not register your interest, your security may be useless and title and ownership of goods you supply, or equipment you rent, may be lost.

    The Personal Property Security Legislation is intended to create a simple online registration system for all security interests. It applies to goods but does not apply to land interests.


    GST financial supply changes to impact on the managed funds industry

    On 13 January 2012 Treasury released an exposure draft of regulations which will impact on the manner in which managed funds calculate their GST liabilities. The managed funds industry will be particularly concerned with changes which specifically target situations where a trustee/responsible entity charges a single, “bundled” fee to a managed fund. If adopted, the regulations would limit the reduced input tax credit (RITC) the fund can claim for GST paid on this fee to 55% of GST paid. This compares to the current situation where a managed fund can generally claim an RITC equal to 75% of the GST paid.

    Proposed Victorian Landholder Duty Model would make Victoria an unfavourable investment destination

    The Victorian State Revenue Office has released a consultation paper on 8 September 2011 detailing the proposed changes to the Victorian land rich duty provisions.

    2011 PFA Research and Compliance Roadshows hosted by Moore Stephens

    Details on Roadshows hosted by Moore Stephens

    Download Slides here

    Developer Issues - Stamp Duty, Income Tax and Land Tax

    Developer Issues - Stamp Duty, Income Tax and Land Tax

    Often a decision is taken to purchase properties from the joint venture that has developed the property.

    Amendments to the GAIC Scheme

    Amendments to the GAIC Scheme

    As part of the Baillieu Government's election commitment, the Planning and Environment Amendment (Growth Areas  Infrastructure Contribution)  Act 2011 was enacted on 29 June 2011 which sets out major changes to the Growth Areas Infrastructure Scheme (GAIC) Scheme.

    Property Industry Update- Federal Budget

    Property update - Federal Budget 2011/12

    The new tax measures announced in the budget will only have a minor impact on the property industry. However the new reporting requirements for construction contractors will increase the administration burden on developers and construction companies. We also await further guidance on the scope of ‘eligible infrastructure projects’ for the purposes of the relaxed loss rules to determine the impact of the rules on the property industry.

    Tax breaks for Green buildings delayed

    On 20 April 2011, the Government announced that it will delay proposed tax breaks for environmentally friendly improvements to green buildings.  The proposed scheme will now commence on 1 July 2012, 12 months later than originally proposed.  The Government has indicated that it requires further time to consult with the industry.


    TIA Property Intensive Outbound Investment by MIT’s

    Presentation on Outbound Property Investments by MIT’s given by Stephen O’Flynn on 14 April 2011 at the TIA Property Intensive conference in Melbourne.

    Discussion Paper on the reform of Taxation of Trusts

    On 4 March 2011 the Government released a discussion paper which forms the first part of its highly anticipated reform to the taxation of trusts. The paper proposes legislative amendments to achieve two specific objectives:
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