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Some amendments to the Dog and Cat Management Act 1995 came into effect 1 July 2017 including new registration categories: Standard Dog – for a de-sexed and micro-chipped dog; and Non-standard Dog – being all other dogs including dogs for breeding and working dogs on farms.
Coming in on 1st August new minimum welfare conditions that must be met.
Further requirements associated with de-sexing and micro chipping will come into force 1st July 2018.
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From 1 July 2017:
Land Tax
From 1 January 2018, vacant residential properties in the inner and middle ring of Melbourne will be subject to a vacant residential land tax of 1 per cent of the property’s capital improved value. A property will be considered vacant if it is unoccupied for six months or more in a calendar year. The six months does not need to be continuous. There are exemptions for many properties including for vacant land.
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First Home Buyer Grant
The First Home Buyer Grant of $20,000 has been extended to 31 December 2017.
Land tax
An ‘absentee surcharge’ introduced from the 2017-2018 financial year. A 1.5% surcharge will be imposed on individuals not ordinarily residing in Australia and who are liable for land tax.
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First Home Buyers $20 000 First Home Owner Grant extended to 30 June 2018.
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First Home owner
Shared Equity Scheme.
A person may purchase a property with an approved equity partner. Subject to eligibility the home buyer may apply for first home buyers assistance and grants. Subsequent transfers from the equity partner to the home buyer are exempt from duty. Principal place of residence land tax exemption is applicable from 2018 tax year.
New Home Grant scheme.
The $5,000 grant for any purchaser of a new home ends 30 June 2017.
Payment of duty in off the plan purchases.
From 1 July 2017 the 12 month duty liability deferral is only available to purchasers who declare their intention to occupy the property as their principal place of residence. If the property is not occupied for 6 months commencing within 12 months of completion interest and penalty tax apply from the lability date.
Foreign Purchaser Surcharge Duty.
Foreign Purchaser Surcharge Duty has increased from 4% to 8% .
Commercial residential property is exempt – retrospective to 21 June 2016.
Permanent residents, including NZ citizens holding a special category visa, are exempt from the surcharge on their principal place of residence if they occupy the home for a continuous period of 200 days within 12 months of purchase.
Australian-based developers will pay surcharge purchaser duty when purchasing the land however may be entitled to a refund on the sale of a new home built by them, if they are an Australian corporation.
Foreign Person Land Tax Surcharge.
From the 2018 tax year the surcharge land tax rate will increase from 0.75% to 2% and commercial residential property will be exempt. Permanent residents, including NZ citizens holding a special category visa, are exempt from the surcharge on their principal place of residence if they occupy the home for a continuous period of 200 days within the land tax year.
Australian-based developers will pay surcharge land tax, however may be entitled to a refund on the sale of a new home built by them if they are an Australian corporation.
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Off the plan apartments.
A $10 000 grant will be provided to eligible off-the-plan apartment purchasers where the contract is entered into between 22 June 2017 and 30 September 2017.
Off-the-plan stamp duty concession.
From 22 June 2017 the off the plan stamp duty concession no longer applies to foreign purchasers. Generally the concession has been extended until 30 June 2018 .
Land tax exemption
A five year land tax exemption will apply to eligible apartments bought off-the-plan where the contract is entered into between 22 June 2017 and 30 June 2018.
Foreign purchasers – From 1 January 2018
A stamp duty surcharge of 4% will apply to foreign purchasers of South Australia residential property.
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For contracts entered into on or after 1 July 2017 the new foreign resident capital gains withholding (FRCGW) rate and threshold will apply to:
All precedents and commentaries were updated to reflect these changes.
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Local nuisance elements of the Local Nuisance and Litter Control Act 2016 commence 1 July 2017, creating a statutory framework for nuisances such as unsightly conditions, noise, odour, smoke, dust and animals.
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On 1st May 2017 the Powers of Attorney Amendment Act 2016 and Powers of Attorney Amendment Regulations 2017 came into operation. The Act clarified a number of ‘operational’ matters, discussed below and in the article Powers of Attorney – Evolution. The regulations substituted the majority of prescribed forms
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FROM 1 JULY 2017 Concessional Contributions Cap for superannuation reduced to $25,000 for all ages. Before-tax contributions include compulsory employer contributions and salary sacrifice arrangements. Contributions greater than $25,000 from before-tax income may mean payment of extra tax.