by Financially Sorted | Apr 24, 2025 | Business, Land Tax, Small Business, Tax & Accounting
More than 400,000 Victorians who run a small business or an Airbnb from the family home have been hit with hefty land tax bills for the first time as State Government changes, designed to rein in debt, kick in. The family home has always been exempted from land tax so...
by Financially Sorted | Apr 22, 2025 | ATO, Government Legislation, Land Tax, Small Business
This information relates to the State Revenue Office Ruling Principal Place of Residence Exemption – Substantial Business Activity Land Tax Act 2005Revenue Ruling LTA.001 (version 2) History The principal place of residence (PPR) exemption provided by section 54(1)(a)...
by Financially Sorted | Jul 30, 2024 | Business, Economy, Finance, Interest Rates, Land Tax, Superannuation, Tax & Accounting, Tax Returns
Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the...
by Financially Sorted | Apr 1, 2024 | Land Tax, Property Investment
Navigating the intricacies of Land Tax can often feel challenging for property owners. As jurisdictions impose varying regulations and rates, understanding your obligations can be a daunting task. With concerns mounting over escalating land tax liabilities, it is...
by kirstyb | Apr 30, 2023 | Land Tax, Property Investment
Many own investment properties and have used this type of investment over the years to generate wealth and help create a comfortable lifestyle in retirement. With costs, such as land tax rising recently along with changes to the rental tenancies act, many are asking...
by kirstyb | Feb 27, 2023 | ATO, Interest Rates, Land Tax, Property Investment, stamp duty
The rising costs of Land tax bills are arriving across the State of Victoria, and many have been left stunned by staggering increases. Speaking to many clients and listening to many of the media outlets like 3AW and the nightly news services, its being reported that...
