2023 State taxes

Windfall Gains Tax and other general state taxes update

Source: Victoria

Published Date: 3 May 2023

 

Sorry, this is subscriber only content.

If you're not yet a subscriber, to gain access to this material and much more - Subscribe Now.

Already a Subscriber? Login now

Already a Subscriber? Login now

The controversial Windfall Gains Tax is finally here and commenced on 1 July 2023. This session covered the implications of the WGT for owners and developers, their first-hand experience with transactions that are being impacted and valuation issues that will play an important role moving forward. Key takeaways included:

  • How the WGT works and what it will apply to
  • Deferral provisions and their impact on future transactions
  • Exemptions, concessions and transitional rules
  • The importance of the valuation process and valuation objections
  • Watch-outs and planning tips for landowners, purchasers and developers in the lead-up to 1 July 2023; and
  • Impact on the market and property development transactions.

Individual Session

Author(s): William Zhang

Details

  • Published By: William Zhang
  • Published On:3 May 2023
  • Took place at:Grand Hyatt Melbourne

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

2023 State taxes

Share this page