For years, the Australian legal profession has operated on the periphery of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). While financial institutions have long been on the frontline, the "Tranche 2" reforms are set to bring lawyers, accountants, and real estate agents—often referred to as "gatekeepers"—fully into the regulatory fold. This shift represents more...

Recent data from the State Revenue Office (SRO) of Victoria signals a hardening regulatory environment for first home buyers. As the SRO increases its scrutiny of support schemes, a growing number of purchasers are finding themselves on the wrong side of strict eligibility and residency requirements, facing significant financial exposure. For property purchasers, the takeaway...

Norman O'Bryan is a former Senior Counsel and prominent member of the Victorian Bar whose career spanned several decades before culminating in one of the most significant legal scandals in Victorian history. Born into a distinguished legal dynasty, O'Bryan achieved the highest academic and professional honours, including the Supreme Court Prize, a Rhodes Scholarship, and...

For high-income earners and business owners, the end of a financial year often prompts the same question: is there a smarter way to manage tax? The answer, for those with a genuine desire to give back, may lie in one of Australia's most underutilised yet powerful philanthropic structures — the Private Ancillary Fund (PAF). A...

  Vacant Residential Land Tax in Victoria – The SRO’s “Data Model”: How the Tax Is Really Enforced In a previous post, I explored how Vacant Residential Land Tax (VRLT) operates under the Land Tax Act 2005 (Vic)—particularly the statutory concepts of “residential land” and “vacancy”. This follow-up focuses on something practitioners increasingly encounter in...

By Brett Hayton | Hayton Kosky — Property, Commercial & Estate Planning Lawyers, Bentleigh Stamp duty, formally known as land transfer duty, represents one of the most significant transaction costs when purchasing property in Victoria. For instance, a property purchased at $800,000 can incur duty exceeding $43,000 at the standard rate. However, a surprisingly large number of property...