Common issues with trusts – Revenue NSW and land tax
Of late we have seen a number of clients with land tax controversies with Revenue NSW. The most common issue we are currently seeing concerns discretionary trusts and surcharge land tax. For a discretionary trust that owns residential land in NSW to avoid the surcharge land tax, the terms of the trust must satisfy two requirements:1. That no potential beneficiary of the trust is a foreign person (the...
Exciting news - We're DSP with ASIC
We are pleased to announce that PGG online has now been approved by ASIC as a digital service provider. What does this mean for you? PGG Online obtained this status in record time. What this means for you is that we do not depend on any third party provider to run our platform and we have a direct link to ASIC.Technical enquiries relating to ASIC services can now be dealt with and answered as we are a gateway to ASIC services. ...
Introducing Director Identification Numbers
Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth) introduces new requirements for all directors of a company in Australia to have a director identification number (Director ID) from the key dates referred to in the table at the conclusion of this article.Background to the Director IDThe Director ID is one part of the Federal Government’s Modernising Business Registers (‘MBR’) program that will com...
