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  2023 State taxes

Windfall Gains Tax and other general state taxes update

Source: Victoria

Published Date: 3 May 2023

 

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The controversial Windfall Gains Tax is finally here and commenced on 1 July 2023. This video covers 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
Materials from this session:

Author(s)

Details

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

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2023 State taxes

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