The Fringe Benefits Tax (“FBT”) year ended on 31 March 2025 and each employer is required to calculate their liability for FBT. Where a liability for FBT exists, an annual return is required to be lodged and any tax paid by 21 May 2025. However, if the return is lodged electronically by a Tax Agent the due date of lodgement and for payment is 25 June 2025.
Welcome to the Land Tax edition of our client newsletter for 2025, where we hope to keep you informed of the key dates and latest updates for Land Tax in NSW. Click here or the link below to view or download a PDF copy of our newsletter.
StewartBrown Client Newsletter - 2025 Land Tax Edition
NSW LAND TAX REMINDER – ACTION REQUIRED BY 31 MARCH 2025
Land Tax 2024 – Registration Form
All landowners in NSW, including Individuals, Companies, Superannuation Funds and Trusts are reminded that the due date for lodgement of the initial return for land held as at 31 December 2024 is 31 March 2025...
(Read more on pages 1-2)
LAND TAX FOREIGN OWNER SURCHARGE
From 1 January 2025 the surcharge land tax rate for foreign owners will increase from 4% to 5%...
(Read more on page 2)
LANDHOLDER DUTY
Landholder Duty is applied when someone acquires a ‘significant interest’ in a company or unit trust that owns real property in NSW with an unencumbered value of $2 million or more...
(Read more on page 2)
CHANGES TO THE ELIGBILITY CRITERIA FOR THE PRINCIPAL PLACE OF RESIDENCE EXEMPTION
To receive the principal place of residence (PPR) exemption from 1 February 2024 you must...
(Read more on page 2)
Click here to download or view a PDF of the following newsletter
This special edition of our newsletter is to remind you of your employer obligations for the year ended 30 June 2024, as well as to provide an update on key changes from 1 July 2024 onwards. Please contact your StewartBrown Manager or Partner should you need any assistance with any of the matters mentioned below.
For the information of clients we enclose this checklist which you may find helpful in planning your year-end tax strategies. Careful planning (and in many cases timing) is always important when tax planning is concerned. This document is not exhaustive and your individual circumstances must be considered. Please contact your StewartBrown Manager or Partner should you need any assistance with understanding or applying the below.
Here’s a quick summary of what you need to consider for yourself and your business before the end of the financial year:
On Tuesday, 14 May 2024, Federal Treasurer Jim Chalmers handed down the 2024-25 Federal Budget. As with all Budgets, these are announcements only and have not been legislated. The details are still to be worked through, and both Houses of Parliament need to pass legislation before the announcements take effect.
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