Mark Ruttner, Author at FVG

Grounds for objection of land tax assessments

Written by Mark Ruttner on February 14, 2024. Posted in Blog, Land Tax.

Grounds for objection of land tax assessments Grounds for objection to land tax assessments may vary depending on the jurisdiction, but generally, there are some common reasons that property owners might use to challenge their land assessments. It’s important to consult the specific laws and regulations in your jurisdiction, as they can differ. Here are some common grounds for objection: 1. Incorrect Property Valuation: If the assessed value of your property is inaccurate or based on outdated information, you may have grounds for objection. Instruct First Valuation Group to provide...

The Big Unknown of 2024, Just Around the Corner!!

Written by Mark Ruttner on February 7, 2024. Posted in Blog.

The Big Unknown of 2024, Just Around the Corner!! The process for land tax objections in Victoria is governed by the State Revenue Office (SRO) guidelines. To object to a land tax assessment in Victoria, you generally follow these steps: 1. Review the Assessment Notice: Examine the land tax assessment notice carefully to understand the basis for the valuation and the calculation of the land tax. 2. Grounds for Objection: Identify valid grounds for objection. Common reasons may include errors in the property valuation, incorrect land classification, or eligibility for exemptions. 3. Submit...

Changes to Land Tax and Windfall Gains Tax

Written by Mark Ruttner on January 17, 2024. Posted in Blog, Land Tax.

Changes to Land Tax and Windfall Gains Tax The way vendors are allowed to share the cost of land tax and windfall gains tax with purchasers has changed. As of 1 January this year, vendors are banned from passing on land tax and windfall gains tax to purchasers in a contract of sale (and option agreements in the case of windfall gains tax) where: For land tax, the sale price of their property is less than $10 million. From 1 January 2025, this threshold will be adjusted annually based on the Consumer Price Index. A windfall gains tax liability has been assessed before the vendor signs the...

The best tax deduction within your Self Managed Superannuation Fund is

Written by Mark Ruttner on June 4, 2022. Posted in Blog, Property Tax.

Where are we within the current retail property cycle?

Written by Mark Ruttner on April 8, 2022. Posted in Retail Property Market.

Where are we within the current retail property cycle? The year has commenced at a somewhat hectic pace, not reflected by the usual sales and leasing results, but more so, with issues that are usually in the background, such as “rental adjustments” and “rental determinations” now leading the way. The variances in rental levels stem from the ceasing of the Commercial Tenancy Relief Scheme in March 2022, and obviously the period of 2020-2021 “Covid 19”, State of Disaster and general pandemic conditions. The reality is that lessee’s now need to claw back...

Welcome to 2022!

Written by Mark Ruttner on February 19, 2022. Posted in Blog.

Welcome to 2022! I hope that you and your families are all healthy and looking forward to the unexpected year ahead of 2022. After all, we have started the year with a summer of Omicron, equity market rollercoasters, Ukraine/Russia tensions, Taiwan/China tensions, potential interest rate increases with inflation starting to surface again after so many years… do we expect frogs and locusts next? With the ongoing health and potential economic issues, the Melbourne real estate market both within the commercial and residential submarkets have kept momentum with no evidence of any sort...

Author: Mark Ruttner