Budget ‘thin cap’ measure: ending valuations outside financial accounts – Treasury fills the ‘gap’ in the transitional rule – the ‘average’ asset value will be frozen at the last complying valuation pre-Budget Night

Treasury has released details of the policy principles that will be used regarding the start date and transitional period of the 2018-19 Federal Budget thin cap changes. In the 2018-19 Federal Budget, the Government announced that it will tighten Australia’s thin capitalisation rules by requiring entities to align the value of their assets for thin…

NSW land tax: Australia Avenue Developments Pty Ltd v Chief Commissioner of State Revenue (NSW) – ‘Construction Lease’, supporting a Development Agreement, still found to be a ‘lease’ and the lessee was liable to land tax as a deemed ‘owner’

NSW Civil and Administrative Tribunal (Tribunal) held that a company was liable, to pay NSW land tax, as an agreement, with the land owner was, in law, a lease. The facts were as follows. Australia Avenue Developments Pty Ltd (Developer) entered into a Project Development Agreement (Development Agreement) with the Sydney Olympic Park Authority (Authority)…