Windfall Gains Tax is a tax imposed on landowners in Victoria, which came into effect from 1 July 2023. WGT aims to capture a portion of the increased land value resulting from government planning decisions, ensuring that the benefits of rezoning contribute to public infrastructure and services.
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Owning a small business, company or trust adds additional layers of complexity to estate planning. Ensuring that your business interests are handled smoothly should you die or lose capacity will be crucial for your business operations to continue and for the protection of your assets.
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Creating a Will is an essential part of estate planning. A valid Will ensures that your assets are distributed according to your wishes after your passing. However, the legal validity of a Will hinges on strict adherence to formal requirements.
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Once you’ve made your Will, is that the end of the matter? Generally, no. You need to review your Will at certain times because, for most people, financial and personal circumstances change, and some changes of those changes may mean that the terms of your Will now produce unwanted or unintended outcomes.
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Buying off-the-plan is a choice that many investors and home buyers make. However, along with a number of general risks associated with purchasing off-the-plan, there are additional risks directly resulting from the property, certain market trends, and the interest rate rises, particularly when relying on a pre-approved loan.
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Pets provide us with many things including companionship, unconditional love and laughs and in effect are considered by many, as members of their family. However, have you ever thought about what would happen to your beloved pet(s) in the event of your death or should they outlive you?
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