EXPERT INSIGHTS FROM OUR TEAM.

COVID-19: Victorian Rent Relief Rulebook

COVID-19: Victorian Rent Relief Rulebook

Regulations announced by the Victorian government provide the rulebook for landlords and tenants when negotiating rent relief in light of the impact of COVID-19. The devil is in the detail; however, the article below summarises some of the key concepts. We urge landlords and tenants to obtain legal advice to ensure that they approach negotiations in a methodical way without compromising their rights.

COVID-19: Commercial Tenancies Code – The Pathway Forward

COVID-19: Commercial Tenancies Code – The Pathway Forward

COVID-19: Commercial Tenancies Code – The Pathway Forward By Scott McKenzie, Emma Milne and Andrew Henshaw, Velocity Legal This is a challenging time. Many businesses have closed or are feeling extreme pressure, which invariably creates headaches for both landlords...

Commissioner wins in Eichmann appeal

Commissioner wins in Eichmann appeal

Commissioner wins in Eichmann appeal Insights by Rosalind Li  Commissioner wins in Eichmann appeal: Federal Court tightens the screws on the ‘Active Asset’ Test Published in the Thomson Reuters Weekly Tax Bulletin (23 January 2020) The small business CGT concessions...

Denying the CGT Main Residence Exemption to ‘Aussie Expats’

Denying the CGT Main Residence Exemption to ‘Aussie Expats’

PODCAST: Denying the CGT Main Residence Exemption to ‘Aussie Expats’ By Andrew Henshaw, Director and Patrick Simon, Law Graduate, Velocity LegalAdapting to the new rules, and why ‘tax residency’ is now even more important than ever. Close to three years since they...

PODCAST: Main Residence Exemption for Foreign Residents

PODCAST: Main Residence Exemption for Foreign Residents

PODCAST: Main Residence Exemption for Foreign Residents Insights by Andrew Henshaw The main residence exemption for foreign residents used to be easy. Once you got it, you didn’t lose it for at last 6 years – and even indefinitely as long as you didn’t rent it out....

PODCAST:Main Residence Exemption Upon Divorce or Death

PODCAST:Main Residence Exemption Upon Divorce or Death

PODCAST: Main Residence Exemption Upon Divorce or Death Insights by Andrew Henshaw The main residence exemption upon divorce or death can get tricky. How exactly does the exemption apply when owners divorce or die? Click the link below to listen in.Insight...

Victorian SRO awakens

Victorian SRO awakens

Victorian SRO awakens - drops ‘practical approach’ to applying foreign purchaser additional duty for discretionary trusts By Rajan Verma and Andrew Henshaw, Directors, Velocity Legal Subjecting discretionary trusts that have little real connection to 'foreign...

PODCAST: AIRBNB TRIGGERS CGT

PODCAST: AIRBNB TRIGGERS CGT

PODCAST: AirBnB triggers CGT Insights by Andrew Henshaw How does renting your home on AirBnB affect the CGT Main Residence exemption? Click the link below to listen in.Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s Sydney practice. If you are...

PODCAST: Tax Effective Structuring

PODCAST: Tax Effective Structuring

PODCAST: Tax Talks - Tax Effective Structuring Insights by Andrew Henshaw In this episode of Tax Talks, Andrew Henshaw discusses the key tax issues to consider when considering structuring investments and business affairs. Click the link below to listen in. Insight...

PODCAST: Related Party LRBA

PODCAST: Related Party LRBA

PODCAST: Tax Talks - Related Party LRBA Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw discusses how a Limited Recourse Borrowing Arrangement can be put in place between a Self Managed Superannuation Fund, and a related party. Click the link...

PODCAST: SMSF BUYS PROPERTY JOINTLY

PODCAST: SMSF BUYS PROPERTY JOINTLY

PODCAST: Tax Talks - SMSF Buys Property Jointly Insights by Andrew Henshaw In this episode of Tax Talks, Andrew Henshaw discusses the potential traps associated with a Self Managed Superannuation Fund buying property jointly. Click the link below to listen in. Insight...

PODCAST: Small Business CGT Concessions for Big Business

PODCAST: Small Business CGT Concessions for Big Business

PODCAST: Small Business CGT Concessions for Big Business Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw discusses how the Small Business CGT Concessions can sometimes not to ‘not so small business’. Click the link below to listen in. Insight...

PODCAST: The 2019 Harding Case

PODCAST: The 2019 Harding Case

PODCAST: The 2019 Harding Case Insights by Andrew HenshawThe 2019 Harding case received a lot of media attention. And put the spot light onto our highly contentious tax residency rules for individuals – again. In this episode of Tax Talks, Andrew Henshaw discusses the...

PODCAST: Div 7A Reform

PODCAST: Div 7A Reform

PODCAST: Tax Talk - Div 7A Reform Insights by Andrew HenshawWhat will the upcoming Division 7A reform look like? Andrew Henshaw discusses on this episode of Tax Talks. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity...

PODCAST: Div 7A Questions

PODCAST: Div 7A Questions

PODCAST: Tax Talk - Listeners Div 7A Questions Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw answers three Division 7A listener questions. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity...

PODCAST: When does a UPE become a Division 7A Issue?

PODCAST: When does a UPE become a Division 7A Issue?

PODCAST: When does a UPE become a Division 7A Issue? Insights by Andrew HenshawWhen does a UPE become a Division 7A Issue? Andrew Henshaw explains on Tax Talks. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s...

PODCAST: ATO Disputes – How to avoid or manage them

PODCAST: ATO Disputes – How to avoid or manage them

PODCAST: ATO Disputes - How to avoid or manage them Insights by Andrew Henshaw Andrew Henshaw shares with Tax Talks some of his experiences as a tax lawyer. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s...

PODCAST: Dealing with the ATO in a tax dispute

PODCAST: Dealing with the ATO in a tax dispute

PODCAST: Dealing with the ATO in a tax dispute Insights by Andrew HenshawAndrew Henshaw shares with Tax Talks some of his experiences as a tax lawyer. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s Sydney...

Stamp Duty to apply to Development Agreements in Victoria

Stamp Duty to apply to Development Agreements in Victoria

BREAKING: STAMP DUTY TO APPLY TO DEVELOPMENT AGREEMENTS IN VICTORIA By Andrew Henshaw The Victorian Government handed down their 2019-20 Budget on Monday 27 May. Under the Budget, various changes to certain state taxes were announced (including duty, land tax and...

Contractor or Employee: What’s the Risk?

Contractor or Employee: What’s the Risk?

Contractor or Employee: What’s the Risk? Insights by Andrew Henshaw We often see employers misunderstand the distinction between independent contractor and employee. This can be a very costly mistake. In this article we discuss: the difference between an employee and...

Struggling with a landlord? You may be able to terminate the lease

Struggling with a landlord? You may be able to terminate the lease

Casenote: Tenant's Ability to Terminate a Lease Insights by Andrew Henshaw Struggling with a landlord? You may be able to terminate the lease Heavily entrenched in our legal system is the idea that if a party is not complying with its obligations under a contract, the...

SELLING YOUR BUSINESS:  HOW TO NAVIGATE THE LEGAL MINEFIELD

SELLING YOUR BUSINESS: HOW TO NAVIGATE THE LEGAL MINEFIELD

Selling your business: How to navigate the legal minefield By Scott McKenzie and Andrew Henshaw, Directors, Velocity Legal  Selling a business can be a bittersweet moment. On one hand, you are ‘cashing in’ and will have the opportunity to free up time for other...

Business Succession: Transitioning to the next generation

Business Succession: Transitioning to the next generation

Business Succession: Transitioning to the next generation By Scott McKenzie and Andrew Henshaw Transitioning Family Businesses Statistics demonstrate that family owned businesses are the lifeblood of Australia’s economy. For example: around 70% of Australian...

Selling a fitness business: what you need to know

Selling a fitness business: what you need to know

SELLING A FITNESS BUSINESS: WHAT YOU NEED TO KNOW By Scott MckenzieWhen you’re selling a fitness business, the ideal scenario is a stress-free transaction that allows you to close that chapter of your life and move on, without having to think about the business ever...

Buying a fitness business: what you need to know

Buying a fitness business: what you need to know

BUYING A FITNESS BUSINESS: WHAT YOU NEED TO KNOW By Scott MckenzieBuying a fitness business is a major financial outlay, so you want to ensure you make a smart purchase that delivers what was promised, without any unpleasant surprises down the track. Follow these tips...

Tax residency – Commissioner wins big in recent expat case

Tax residency – Commissioner wins big in recent expat case

TAX RESIDENCY – COMMISSIONER WINS BIG IN RECENT EXPAT CASE By Andrew HenshawThere are many Australian citizens and permanent residents who leave Australia to work overseas (Expats). Expats will often consider they are not a resident of Australia for tax purposes (i.e....

CGT marriage breakdown roll-over: the Sandini Case revisted

CGT marriage breakdown roll-over: the Sandini Case revisted

CGT MARRIAGE BREAKDOWN ROLL-OVER: THE SANDINI CASE REVISTED By Andrew HenshawCGT MARRIAGE BREAKDOWN ROLL-OVER: THE SANDINI CASE REVISTED A recent case before the Full Federal Court has tested the limits of the CGT marriage breakdown rollover relief. In Ellison &...

‘PLUS’ GST CASE – COURT OF APPEAL MUDDIES THE WATERS

‘PLUS’ GST CASE – COURT OF APPEAL MUDDIES THE WATERS

‘PLUS’ GST CASE – COURT OF APPEAL MUDDIES THE WATERS By Andrew Henshaw, Director, Velocity LegalThe Victorian Court of Appeal has reversed a Supreme Court decision on whether the purchase price in a sale of land contract was GST-inclusive or GST-exclusive. The Court...

THE EMPIRE STRIKES BACK: THE NEW GST WITHHOLDING REGIME

THE EMPIRE STRIKES BACK: THE NEW GST WITHHOLDING REGIME

THE EMPIRE STRIKES BACK: THE NEW GST WITHHOLDING REGIME By Andrew Henshaw and Rajan Verma Ordinarily, vendors pay GST on the value of the taxable supplies that they make. Vendors will sell goods or services for a price that includes a GST component. When it comes time...

THE NEW 27.5% CORPORATE TAX RATE: HOW DO I GET IT?

THE NEW 27.5% CORPORATE TAX RATE: HOW DO I GET IT?

THE NEW 27.5% CORPORATE TAX RATE: HOW DO I GET IT? By Andrew Henshaw, Director, Velocity LegalOn 1 July 2017, the new 27.5% corporate tax rate took effect. Many companies that are ‘small businesses’ will qualify for the new tax rate. Companies that do not meet the...

FOREIGN PROPERTY INVESTORS STUNG: SPECIAL BUDGET UPDATE

FOREIGN PROPERTY INVESTORS STUNG: SPECIAL BUDGET UPDATE

FOREIGN PROPERTY INVESTORS STUNG: SPECIAL BUDGET UPDATE By Andrew Henshaw, Director, Velocity LegalIn my most recent edition of Life, Death and Taxes, I talked about some of the tax and duty changes targeting foreign property investors over the last five years....

Born in the USA

Born in the USA

A look at one big difference between the Australian and US tax systems.

COVID-19: Victorian Rent Relief Rulebook

COVID-19: Victorian Rent Relief Rulebook

Regulations announced by the Victorian government provide the rulebook for landlords and tenants when negotiating rent relief in light of the impact of COVID-19. The devil is in the detail; however, the article below summarises some of the key concepts. We urge landlords and tenants to obtain legal advice to ensure that they approach negotiations in a methodical way without compromising their rights.

COVID-19: Commercial Tenancies Code – The Pathway Forward

COVID-19: Commercial Tenancies Code – The Pathway Forward

COVID-19: Commercial Tenancies Code – The Pathway Forward By Scott McKenzie, Emma Milne and Andrew Henshaw, Velocity Legal This is a challenging time. Many businesses have closed or are feeling extreme pressure, which invariably creates headaches for both landlords...

Commissioner wins in Eichmann appeal

Commissioner wins in Eichmann appeal

Commissioner wins in Eichmann appeal Insights by Rosalind Li  Commissioner wins in Eichmann appeal: Federal Court tightens the screws on the ‘Active Asset’ Test Published in the Thomson Reuters Weekly Tax Bulletin (23 January 2020) The small business CGT concessions...

Denying the CGT Main Residence Exemption to ‘Aussie Expats’

Denying the CGT Main Residence Exemption to ‘Aussie Expats’

PODCAST: Denying the CGT Main Residence Exemption to ‘Aussie Expats’ By Andrew Henshaw, Director and Patrick Simon, Law Graduate, Velocity LegalAdapting to the new rules, and why ‘tax residency’ is now even more important than ever. Close to three years since they...

PODCAST: Main Residence Exemption for Foreign Residents

PODCAST: Main Residence Exemption for Foreign Residents

PODCAST: Main Residence Exemption for Foreign Residents Insights by Andrew Henshaw The main residence exemption for foreign residents used to be easy. Once you got it, you didn’t lose it for at last 6 years – and even indefinitely as long as you didn’t rent it out....

PODCAST:Main Residence Exemption Upon Divorce or Death

PODCAST:Main Residence Exemption Upon Divorce or Death

PODCAST: Main Residence Exemption Upon Divorce or Death Insights by Andrew Henshaw The main residence exemption upon divorce or death can get tricky. How exactly does the exemption apply when owners divorce or die? Click the link below to listen in.Insight...

Victorian SRO awakens

Victorian SRO awakens

Victorian SRO awakens - drops ‘practical approach’ to applying foreign purchaser additional duty for discretionary trusts By Rajan Verma and Andrew Henshaw, Directors, Velocity Legal Subjecting discretionary trusts that have little real connection to 'foreign...

PODCAST: AIRBNB TRIGGERS CGT

PODCAST: AIRBNB TRIGGERS CGT

PODCAST: AirBnB triggers CGT Insights by Andrew Henshaw How does renting your home on AirBnB affect the CGT Main Residence exemption? Click the link below to listen in.Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s Sydney practice. If you are...

PODCAST: Tax Effective Structuring

PODCAST: Tax Effective Structuring

PODCAST: Tax Talks - Tax Effective Structuring Insights by Andrew Henshaw In this episode of Tax Talks, Andrew Henshaw discusses the key tax issues to consider when considering structuring investments and business affairs. Click the link below to listen in. Insight...

PODCAST: Related Party LRBA

PODCAST: Related Party LRBA

PODCAST: Tax Talks - Related Party LRBA Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw discusses how a Limited Recourse Borrowing Arrangement can be put in place between a Self Managed Superannuation Fund, and a related party. Click the link...

PODCAST: SMSF BUYS PROPERTY JOINTLY

PODCAST: SMSF BUYS PROPERTY JOINTLY

PODCAST: Tax Talks - SMSF Buys Property Jointly Insights by Andrew Henshaw In this episode of Tax Talks, Andrew Henshaw discusses the potential traps associated with a Self Managed Superannuation Fund buying property jointly. Click the link below to listen in. Insight...

PODCAST: Small Business CGT Concessions for Big Business

PODCAST: Small Business CGT Concessions for Big Business

PODCAST: Small Business CGT Concessions for Big Business Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw discusses how the Small Business CGT Concessions can sometimes not to ‘not so small business’. Click the link below to listen in. Insight...

PODCAST: The 2019 Harding Case

PODCAST: The 2019 Harding Case

PODCAST: The 2019 Harding Case Insights by Andrew HenshawThe 2019 Harding case received a lot of media attention. And put the spot light onto our highly contentious tax residency rules for individuals – again. In this episode of Tax Talks, Andrew Henshaw discusses the...

PODCAST: Div 7A Reform

PODCAST: Div 7A Reform

PODCAST: Tax Talk - Div 7A Reform Insights by Andrew HenshawWhat will the upcoming Division 7A reform look like? Andrew Henshaw discusses on this episode of Tax Talks. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity...

PODCAST: Div 7A Questions

PODCAST: Div 7A Questions

PODCAST: Tax Talk - Listeners Div 7A Questions Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw answers three Division 7A listener questions. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity...

PODCAST: When does a UPE become a Division 7A Issue?

PODCAST: When does a UPE become a Division 7A Issue?

PODCAST: When does a UPE become a Division 7A Issue? Insights by Andrew HenshawWhen does a UPE become a Division 7A Issue? Andrew Henshaw explains on Tax Talks. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s...

PODCAST: ATO Disputes – How to avoid or manage them

PODCAST: ATO Disputes – How to avoid or manage them

PODCAST: ATO Disputes - How to avoid or manage them Insights by Andrew Henshaw Andrew Henshaw shares with Tax Talks some of his experiences as a tax lawyer. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s...

PODCAST: Dealing with the ATO in a tax dispute

PODCAST: Dealing with the ATO in a tax dispute

PODCAST: Dealing with the ATO in a tax dispute Insights by Andrew HenshawAndrew Henshaw shares with Tax Talks some of his experiences as a tax lawyer. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s Sydney...

Stamp Duty to apply to Development Agreements in Victoria

Stamp Duty to apply to Development Agreements in Victoria

BREAKING: STAMP DUTY TO APPLY TO DEVELOPMENT AGREEMENTS IN VICTORIA By Andrew Henshaw The Victorian Government handed down their 2019-20 Budget on Monday 27 May. Under the Budget, various changes to certain state taxes were announced (including duty, land tax and...

Contractor or Employee: What’s the Risk?

Contractor or Employee: What’s the Risk?

Contractor or Employee: What’s the Risk? Insights by Andrew Henshaw We often see employers misunderstand the distinction between independent contractor and employee. This can be a very costly mistake. In this article we discuss: the difference between an employee and...

Struggling with a landlord? You may be able to terminate the lease

Struggling with a landlord? You may be able to terminate the lease

Casenote: Tenant's Ability to Terminate a Lease Insights by Andrew Henshaw Struggling with a landlord? You may be able to terminate the lease Heavily entrenched in our legal system is the idea that if a party is not complying with its obligations under a contract, the...

SELLING YOUR BUSINESS:  HOW TO NAVIGATE THE LEGAL MINEFIELD

SELLING YOUR BUSINESS: HOW TO NAVIGATE THE LEGAL MINEFIELD

Selling your business: How to navigate the legal minefield By Scott McKenzie and Andrew Henshaw, Directors, Velocity Legal  Selling a business can be a bittersweet moment. On one hand, you are ‘cashing in’ and will have the opportunity to free up time for other...

Business Succession: Transitioning to the next generation

Business Succession: Transitioning to the next generation

Business Succession: Transitioning to the next generation By Scott McKenzie and Andrew Henshaw Transitioning Family Businesses Statistics demonstrate that family owned businesses are the lifeblood of Australia’s economy. For example: around 70% of Australian...

Selling a fitness business: what you need to know

Selling a fitness business: what you need to know

SELLING A FITNESS BUSINESS: WHAT YOU NEED TO KNOW By Scott MckenzieWhen you’re selling a fitness business, the ideal scenario is a stress-free transaction that allows you to close that chapter of your life and move on, without having to think about the business ever...

Buying a fitness business: what you need to know

Buying a fitness business: what you need to know

BUYING A FITNESS BUSINESS: WHAT YOU NEED TO KNOW By Scott MckenzieBuying a fitness business is a major financial outlay, so you want to ensure you make a smart purchase that delivers what was promised, without any unpleasant surprises down the track. Follow these tips...

Tax residency – Commissioner wins big in recent expat case

Tax residency – Commissioner wins big in recent expat case

TAX RESIDENCY – COMMISSIONER WINS BIG IN RECENT EXPAT CASE By Andrew HenshawThere are many Australian citizens and permanent residents who leave Australia to work overseas (Expats). Expats will often consider they are not a resident of Australia for tax purposes (i.e....

CGT marriage breakdown roll-over: the Sandini Case revisted

CGT marriage breakdown roll-over: the Sandini Case revisted

CGT MARRIAGE BREAKDOWN ROLL-OVER: THE SANDINI CASE REVISTED By Andrew HenshawCGT MARRIAGE BREAKDOWN ROLL-OVER: THE SANDINI CASE REVISTED A recent case before the Full Federal Court has tested the limits of the CGT marriage breakdown rollover relief. In Ellison &...

‘PLUS’ GST CASE – COURT OF APPEAL MUDDIES THE WATERS

‘PLUS’ GST CASE – COURT OF APPEAL MUDDIES THE WATERS

‘PLUS’ GST CASE – COURT OF APPEAL MUDDIES THE WATERS By Andrew Henshaw, Director, Velocity LegalThe Victorian Court of Appeal has reversed a Supreme Court decision on whether the purchase price in a sale of land contract was GST-inclusive or GST-exclusive. The Court...

THE EMPIRE STRIKES BACK: THE NEW GST WITHHOLDING REGIME

THE EMPIRE STRIKES BACK: THE NEW GST WITHHOLDING REGIME

THE EMPIRE STRIKES BACK: THE NEW GST WITHHOLDING REGIME By Andrew Henshaw and Rajan Verma Ordinarily, vendors pay GST on the value of the taxable supplies that they make. Vendors will sell goods or services for a price that includes a GST component. When it comes time...

THE NEW 27.5% CORPORATE TAX RATE: HOW DO I GET IT?

THE NEW 27.5% CORPORATE TAX RATE: HOW DO I GET IT?

THE NEW 27.5% CORPORATE TAX RATE: HOW DO I GET IT? By Andrew Henshaw, Director, Velocity LegalOn 1 July 2017, the new 27.5% corporate tax rate took effect. Many companies that are ‘small businesses’ will qualify for the new tax rate. Companies that do not meet the...

FOREIGN PROPERTY INVESTORS STUNG: SPECIAL BUDGET UPDATE

FOREIGN PROPERTY INVESTORS STUNG: SPECIAL BUDGET UPDATE

FOREIGN PROPERTY INVESTORS STUNG: SPECIAL BUDGET UPDATE By Andrew Henshaw, Director, Velocity LegalIn my most recent edition of Life, Death and Taxes, I talked about some of the tax and duty changes targeting foreign property investors over the last five years....

Born in the USA

Born in the USA

A look at one big difference between the Australian and US tax systems.

Level 49, 360 Elizabeth Street,
Melbourne VIC 3000

Level 10, 580 George Street,
Sydney NSW 2000

Level 49, 360 Elizabeth Street,
Melbourne VIC 3000

Level 10, 580 George Street,
Sydney NSW 2000

Liability limited by a scheme approved under professional standards legislation.