Land tax stirs up storm over harborside homes

Article Abstract:

Owners of harborside property in Sydney, Australia are fighting the New South Wales state government's land tax on owner-occupied real estate. Some real estate players believe that the land tax will adversely impact the market for prime harbor-front properties. The New South Wales state government is the only state government in Australia to tax family homes, which has made the tax unpopular.

Revenues-State Govt, Taxation, Real estate, Real property, Property taxes, Property tax, State government, New South Wales, Revenue, Land value taxation

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Enterprising investors face an unsuspected tax trap

Article Abstract:

Large investors in Australia could face numerous choices as the goods and services tax goes into effect, tax reforms take place and new taxes are introduced for online investors. Investors who earn over $50,000 per year must register for the goods and services tax and traders cannot take part in the new tax reductions from tax reform.

Australia, Personal Income Tax Administratn, Statistical Data Included, Tax administration, Personal income tax, Goods and services tax

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GST law change will close fringe-benefits loophole

Article Abstract:

The Australian government has drawn up legislation to eliminate a loophole in the New Tax System (Goods and Services Tax) Act 1999 that would have permitted business leaders to protect their salary packages from goods and services tax.

Laws, regulations and rules, Tax exemption, Tax exemptions, Taxation of services, Service taxes

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