General (148)
Vacancy Fee for Foreign Owners
on 2022-03-30 03:07:33
by
Claire Chang
Posted in
General
Vacancy fee for foreign ownersForeign owners of residential dwellings in Australia are required to pay an annual vacancy fee if their dwelling is not residentially occupied or rented out for more than 183 days (six months) in a year. If you're a foreign owner of a residential dwelling you may be liable to pay the vacancy fee. The vacancy fee was introduced in December 2017 as part of the Australian Government’s comprehensive housing affordability plan. It's intended as a financial incentive for foreign owners to make their dwelling available for rent and increase available housing in Australia.About the vacancy feeWho needs to lodge a vacancy fee return?The vacancy fee return must be lodged by foreign owners of residential dwellings who:· made a foreign investment application for residential property after 7.30pm AEST on 9 May 2017· purchased under a New Dwelling Exemption Certificate that a developer applied for after 7:30pm AEST on 9 May 2017. The vacancy fee may also apply where a foreign person failed to submit a foreign investment application but purchased a residential property before 9 May 2017. Foreign owners of vacant land do not have to lodge a vacancy fee return until a dwelling has been constructed on the land. When multiple dwellings are constructed on the land, a vacancy fee return must be lodged for each new dwelling constructed. You must lodge a return even when the dwelling has been occupied or made available for rent.· If the dwelling is owned by two or more people as joint tenants, you only need to lodge one return.· If you own a share of a dwelling as a tenant in common, you each must lodge a vacancy fee return.· If any of the following occur during a vacancy year, a vacancy fee return will not be required to be lodged:· the dwelling is sold or otherwise legally transferred (including in the event of the death of the owner);· you are no longer a foreign person.Who can lodge a vacancy fee return?You may lodge your own vacancy fee return or engage an authorised agent to lodge on your behalf.Who needs to pay an annual vacancy fee?You will need to pay an annual vacancy fee if your dwelling is not residentially occupied or genuinely available on the rental market for more than 183 days during the vacancy year. The vacancy fee may also apply if the vacancy fee return is not lodged by the due date. What is the vacancy year?To applying the vacancy fee rules, a vacancy year is each successive period of 12 months starting on the occupation day for the dwelling during which you have continuously held an interest in the dwelling. A vacancy year is unique to each dwelling held by you and is not a calendar year or a financial year. When is the occupation day?The occupation day is the first day you have the right to occupy the dwelling. This will typically be the settlement day for an established dwelling, but it could also be the day on which a fitness for occupancy certificate for a new dwelling was issued. When is a dwelling residentially occupied?A dwelling is considered residentially occupied if, for at least 183 days in a vacancy year, any of the following circumstances are met:· the owner or a relative of the owner genuinely occupied the dwelling as a residence;· the dwelling was genuinely occupied as a residence subject to lease or license for minimum terms of 30 days;· the dwelling was made genuinely available as a residence on the rental market (with minimum terms of 30 days). Residential occupancy of at least 183 days does not need to be one continuous block of time. Residential occupancy can be made up of multiple continuous periods of at least 30 days throughout the vacancy year. Dwellings made available for short term lease of less than 30 days (including via web-based stay sites) are not considered residentially occupied and would be liable for a vacancy fee. A dwelling will be considered genuinely available for occupation as a residence (with a term of 30 days; or more) if the dwelling is:· made available on the rental market· advertised publicly· available at a market rent Vacancy fee exemptionsIf you can show that for at least 183 days in a vacancy year, your dwelling was incapable of being occupied as a residence you will not be liable to pay the vacancy fee. You must lodge a vacancy fee return to claim this exemption.Your dwelling may be considered incapable of being occupied as a residence if:· the dwelling is damaged, unsafe or is otherwise unsuitable to be occupied as a residence· the dwelling is undergoing substantial repairs or renovations· occupation of the dwelling as a residence is prohibited or legally restricted, by an order of a court or tribunal or a law of the Commonwealth, state, or territory· a person (who may or may not be the foreign person) who ordinarily occupies the dwelling was absent from the dwelling due to receiving long-term, in-patient, medical or residential careTo prove a dwelling was incapable of being occupied because of one of the above exemptions, you may be required to provide acceptable supporting evidence.Fee waiversIn limited circumstances all or part of the vacancy fee may be remitted or waived. Remissions and waivers are determined on a case-by-case basis.When to lodge a returnYou must lodge your vacancy fee return with us within 30 days of the end of each vacancy year. The first day of the 30-day period is the day following the last day of the vacancy year. Land registration numberTo lodge your vacancy fee return you need to be registered on the Land and water register. This will create a land registration number that you use to lodge your vacancy fee return. If you have already received your vacancy fee reminder, you are already registered and do not need to register again. You only have to lodge your vacancy fee return. If you have not registered on the Land and water register and haven't received your vacancy fee reminder, submit a Land and water registration form. How much is the vacancy feeThe vacancy fee will generally be the same amount as the foreign investment application fee you paid at the time you submitted your foreign investment application. In all cases ATO will tell you how much your vacancy fee is when you lodge your vacancy fee return – you don't need to calculate it yourself. If you acquired the dwelling under a new or near new dwelling exemption certificate, the vacancy fee payable will be equal to the foreign investment application fee that would have been payable for the dwelling, had the exemption certificate not been in place. If the application fee was waived, the vacancy fee payable will be equal to the lowest tier foreign investment application fee that would have been payable (for example $6,350). In the case of joint tenants, only one return needs to be lodged and only one fee will be payable. For tenants in common, each tenant will need to lodge a return and the fee payable will be the foreign investment application fee that was payable by each individual tenant. Chang Accounting Advisory Pty Ltd, we are CPA practice and tax agent. If you or your families or friends need our services, please feel free to contact our team for any assistance. This article is for informational purposes only and does not form part of our advice. This article is based on guidance from Australian Taxation Office. Please contact our team if you need any assistance.Claire Chang, 0497 131 419, claire.chang@changadvisory.com.au, wechat: clairechang26Michelle Cui, 0433 539 870, michelle.cui@changadvisory.com.au, wechat: michellejc
外国业主的空置费
on 2022-03-30 03:01:32
by
Claire Chang
Posted in
General
外国业主空置费 如果他们的住宅在一年中没有居住或出租超过 183 天（六个月），则在澳大利亚拥有居民住所的外国业主必须支付年度空置费。 如果您是居民住所的外国业主，您可能需要支付空置费。 作为澳大利亚政府综合住房负担能力计划的一部分，空置费于 2017 年 12 月推出。它的目的是作为一种经济激励措施，鼓励外国业主让他们的住宅可供出租并增加在澳大利亚的可用住房。关于空置费谁需要提交空置费申报表空置费申报表必须由以下住宅的外国业主提交：• 2017 年 5 月 9 日澳大利亚东部标准时间晚上 7:30 后提交住宅物业的外国投资申请• 根据开发商在 2017 年 5 月 9 日澳大利亚东部标准时间晚上 7:30 之后申请购买的新住宅豁免证书。 如果外国人未能提交外国投资申请但在 2017 年 5 月 9 日之前购买了住宅物业，则空置费也可能适用。 在该土地上建造住宅之前，空置土地的外国所有者无需提交空置费申报表。当在土地上建造多套住宅时，必须为每套新建造的住宅提交空置费申报表。 即使住宅已被占用或可供出租，您也必须提交申报表。· 如果住所由两个或两个以上的财产人共同拥有 (joint tenancy)，您只需提交一份申报表。· 如果您作为按份共有 (tenants in common)住所的份额，则你们每个人都必须提交空置费申报表。· 如果在空缺年度内发生以下任何一种情况，则无需提交空缺费申报表：- 住所被出售或以其他方式合法转让（包括在业主死亡的情况下）- 您不再是外国人。 谁可以提交空置费申报表您可以提交自己的空置费申报表或聘请授权代理人代表您提交。谁需要支付年度空缺费如果您的住所在空置年中没有居住或在租赁市场上真正可用的时间超过 183 天，您将需要支付年度空置费。 如果在截止日期前未提交空置费申报表，空置费也可能适用。 什么是空缺年份就适用空置费规则而言，空置年是从住宅占用日开始的每个连续 12 个月的期间，在此期间您一直持有该住宅的权益。 空置年对于您持有的每栋住宅都是独一无二的，它不是日历年或财政年。占用日是什么时候占用日是您有权占用住宅的第一天。这通常是已建成住宅的结算日，但这一天也可能是签发新住宅入住证明的日子。住所何时居住如果在空置年中至少有 183 天满足以下任何一种情况，则该住所被视为住宅被占用：• 业主或业主的亲属真正将住宅用作自住目的• 该住所真正被用作需要租赁或许可至少 30 天的住宅• 该住所在租赁市场上真正可用的住宅（最短期限为 30 天） 至少 183 天的住宅入住不需要是一个连续的时间段。在整个空置年中，住宅入住可以由至少 30 天的多个连续时期组成。 提供少于 30 天的短期租赁（包括通过基于网站的住宿）的住宅不被视为住宅占用，并且需要支付空置费。 如果该住宅符合以下条件，则该住所将被视为真正可用作住宅（期限为 30 天；或更长）：• 在租赁市场上可使用• 公开广告宣传• 以市场租金出租空置费豁免如果您能证明在一个空置年内至少有 183 天您的住所不能作为住宅被占用，您将无需支付空置费。您必须提交空置费申报表才能申请此豁免。如果出现以下情况，您的住所可能被视为无法作为住所使用：• 住所损坏、不安全或不适合用作住宅• 住所正在进行大修或翻新• 法院或法庭的命令或联邦、州或领地的法律禁止或法律限制将住所用作住宅• 通常居住在住宅中的人（可能是也可能不是外国人）因接受长期、住院、医疗或住宿护理而离开住宅。 为了证明住宅因上述豁免之一而无法被占用，您可能需要提供可接受的支持证据。费用减免在有限的情况下，可以免除或推迟全部或部分空置费。 减免和豁免视具体情况而定。何时提交申请您必须在每个空缺年度结束后的 30 天内向我们提交空缺费用申报表。 30 天期间的第一天是空缺年度最后一天的次日。 土地登记号要提交空置费申报表，您需要在土地和水登记处进行登记。这将创建一个土地注册号，您可以使用它来提交您的空置费申报表。 如果您已经收到空缺费提醒，则您已经注册，无需再次注册。您只需提交空置费申报表。 如果您没有在土地和水登记处登记，也没有收到空置费提醒，请提交土地和水登记表。空置费是多少空置费通常与您在提交外国投资申请时支付的外国投资申请费相同。 在所有情况下，ATO 都会在您提交空置费申报表时告诉您空置费是多少——您无需自己计算。 如果您购买的住所有新的或接近新的住宅豁免证书，则应付的空置费将等于如果没有豁免证书，该住宅本应支付的外国投资申请费。 如果免除申请费，则应支付的空置费将等于应支付的最低级别的外国投资申请费（例如 6,350 澳币）。 如果是共同共有业主（joint tenants），只需提交一份申报表，并且只需支付一笔费用。对于按份共有业主(tenants in common)，每个租户都需要提交申报表，应付的费用将是每个租户应支付的外国投资申请费。 Chang 会计师事务所是注册会计师协会会员，同时也是税务代理。 如果您或您的家人或朋友需要我们的服务，请随时联系我们的团队寻求帮助。 本文仅供参考，不构成我们建议的一部分。 本文基于澳大利亚税务局的相关指引。 如果您需要任何帮助，请联系我们的团队。 Claire Chang, 0497 131 419, claire.chang@changadvisory.com.au, wechat: clairechang26Michelle Cui, 0433 539 870, michelle.cui@changadvisory.com.au, wechat: michellejc
Lawyer Trust Account External Examiner
on 2022-03-24 10:18:54
by
Claire Chang
Posted in
General
What is an External Examiner? An external examiner (EE) is a person who is qualified to be appointed to examine the trust records of a law practice or approved barristers’ clerk.Who can be an External Examiner?An EE must complete the Legal Services Council approved External Examiners trust course conducted by the Law Institute of Victoria or NSW Law Society as part of these qualification requirements, and be a member of an approved accounting body, such as CPA Australia. Appointing an External ExaminerIf a law practice or barristers’ clerk holds a trust account, they must appoint an EE to examine the records of that trust account annually. The appointment gives the EE statutory powers to examine their trust records and report those findings.A law practice or barristers’ clerk must notify the Board of the appointment of their EE using the notification of appointment of External Examiner form within a month of receiving trust money (other than transit money). New EEs filling out the form must provide a copy of their completed EE course certificate.Please note that it is the responsibility of the law practice or barristers’ clerk, not the EE, to lodge the appointment form with the Board. Examine Period§ For VictoriaLaw practices and approved barristers’ clerks who operate trust accounts are required to keep trust records. These records must be examined by an EE each trust examination year. The trust examination year runs from 1 April – 31 March.For the purposes of the examination, a law practice or approved clerk must provide the EE with their accounting or other records relating to the affairs of the practice or approved barristers' clerk, as well as any other information the EE reasonably requires. Penalties apply for failing to comply with these requirements. EEs must provide end of trust year documentation to the Board by 31 May each year.EEs, law practices and approved barristers' clerks will be contacted directly to inform them of the end of trust examination year requirements. The trust examination year requirements via LSB Online open on Monday 4 April 2022.All parts of the annual trust examination reporting is conducted via LSB Online. Parts A and B are completed by the law practice. The External Examiner can then submit their report. § For New South Wales1. A Law Practice Confirmation and Statement of Trust Money is required to be completed online by each law practice that operated in New South Wales during the period 1 April 2021 to 31 March 2022. 2. The due date for completed reports to be submitted online is 31 May 2022. 3. In relation to the calculation of Statutory Deposit, the Examiner is required to check that the quarterly calculations have been completed by the law practice. The Examiner is not required to calculate the amount held in the Statutory Deposit account but is to confirm that the practitioner is aware of their obligation. 4. Only the Part A of the Law Practice Confirmation and Statement of Trust Money is to be completed if the law practice did not receive trust money. 5. Only the Part A of the Law Practice Confirmation and Statement of Trust Money is to be completed if the law practice only: a. Received or held trust money Subject to a Specific Power pursuant to the PEXA Settlement Scheme; b. Received or held trust money Subject to a Written Direction; · Received or held Transit Money. 6. If the principal of the law practice confirms that trust money (other than PEXA power money, written direction money or transit money) was received or held during the period then Parts A and B of the Law Practice Confirmation and Statement of Trust Money are completed. The law practice then notifies the EE that the statements have been completed and the records are available for examination. 7. All EE Reports incorporating the Law Practice Confirmation and Statement of Trust Money are required to be lodged online via the Law Society of New South Wales website. Emails are sent to External Examiners and law practices providing information on the online lodgement process.Chang Accounting Advisory Pty Ltd, we are CPA practice and external examiner for law practice’s trust account. If you or your families or friends need our services, please feel free to contact our team for any assistance. This article is for informational purposes only and does not form part of our advice. This article is based on Victorian Legal Services Board + Commissioner and The Law Society of New South Wales. Please contact our team if you need any assistance.Claire Chang, 0497 131 419, claire.chang@changadvisory.com.au, wechat: clairechang26Michelle Cui, 0433 539 870, michelle.cui@changadvisory.com.au, wechat: michellejc
律师信托账户外部审查员
on 2022-03-21 00:29:33
by
Claire Chang
Posted in
General
什么是外部审查员？外部审查员(External Examiner, EE)是指有资格被任命审查执业律师或经认可的大律师书记员的信托记录的人。谁可以成为外部审查员？EE必须完成由维多利亚法律学院或新南威尔士州法律协会举办的法律服务委员会批准的外部考官信托协会举办的课程，作为这些资格要求的一部分，并且是获得批准的会计机构的成员，例如澳大利亚会计师公会。任命外部审查员如果律师事务所或大律师的书记持有信托账户，他们必须指定一名 EE 每年检查该信托账户的记录。该任命赋予外部审计员法定权力来检查其信托记录并报告这些调查结果。律师事务所或大律师的文员必须在收到信托资金（过境资金除外）后的一个月内，使用外部审查员任命通知表通知律师协会其外部审查员的任命。填写表格的新外部审查员必须提供他们完成的外部审查员课程证书的副本。请注意，向委员会提交任命表格是法律事务所或大律师的书记而不是外部审查员的责任。审查时间· 维多利亚1. 律师事务所和经批准的大律师办事员必须保存信托记录。这些记录必须在每个信托检查年度由外部审查员进行检查。信托审查年度为 4 月 1 日至 3 月 31 日。2. 就审查而言，执业律师或认可书记员必须向外部审查员提供与执业或核准大律师事务有关的会计或其他记录，以及外部审查员合理要求的任何其他信息。不遵守这些要求会受到处罚。3. 外部审查员必须在每年 5 月 31 日之前向律师委员会提供信托年终文件。4. 外部审查员、法律实践和经批准的大律师的文员将被直接联系，以告知他们信托审查年度结束的要求。通过 LSB Online 的信托审查年度要求将于 2022 年 4 月 4 日星期一开放。5. 年度信托审查报告的所有部分均通过 LSB Online 进行。 A 部分和 B 部分由律师事务所完成。然后，外部审查员可以提交他们的报告。· 对于新南威尔士州1. 2021 年 4 月 1 日至 2022 年 3 月 31 日期间在新南威尔士州运营的每个律师事务所都需要在线填写律师事务所确认书和信托资金声明。2. 在线提交完整报告的截止日期为 2022 年 5 月 31 日。3. 关于法定存款的计算，审查员必须检查季度计算是否已按照法律惯例完成。外部审查员无需计算法定存款账户中的金额，但需确认从业人员了解其义务。4. 如果律师事务所没有收到信托金，只需填写律师执业确认书和信托金声明的A部分。5. 仅在以下情况下，仅填写律师执业确认书和信托金声明的 A 部分：a. 根据 PEXA 和清算计划收到或持有受特定权力约束的信托资金；b. 根据书面指示收到或持有信托资金；· 收到或持有在途资金。6. 如果律师事务所的负责人确认在此期间收到或持有信托资金（PEXA 动力资金、书面指示资金或在途资金除外），则法律实践确认和信托资金声明的 A 和 B 部分是完成的。然后，律师事务所通知外部审查员声明已完成，记录可供检查。7. 所有包含律师事务所确认书和信托资金声明的外部审查报告都必须通过新南威尔士州律师协会网站在线提交。电子邮件被发送给外部审查员和律师事务所，提供有关在线提交过程的信息。CHANG会计师事务所是注册会计师协会会员，同时也是律师事务所信托账户的外部审查员，如果您，或您的家人或朋友需要我们的服务，请联系我们的团队。本文仅供参考，并不构成我们建议的一部分。本文基于维多利亚州法律服务委员会 + 专员和新南威尔士州律师协会的指引。如果您需要任何帮助，请联系我们的团队。Claire Chang, 0497 131 419, claire.chang@changadvisory.com.au, wechat: clairechang26Michelle Cui, 0433 539 870, michelle.cui@changadvisory.com.au, wechat: michellejc
Actions to do after Getting EMDG Agreement
on 2022-03-15 05:38:08
by
Claire Chang
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General
The Export Market Development Grants (EMDG) program is an entitlement, eligibility-based and demand driven program. Funds must be distributed among all eligible applicants within the program allocation. When there is more demand on the program, grant amounts for each eligible applicant will be less. There are more than 5,300 applicants for the new policy, so the maximum grants for 3 different grants are all reduced. The maximum grants for tire 1, tier 2 and tier 3 are $15,000, $23,000, and $35, 000. Representative Body – up to $90,000 per financial year. Grant agreement timeline You can expect to receive grant agreements from mid-February 2022 onwards. Payment timelineFor Tier 1 grants and Representative Body grantees, you can expect to get first payment from March 2022. For Tier 2 and Tier 3 grants, you can expect to get payments from 1 July 2022 after milestone reports have been received and accepted. Your milestone report must show spending on eligible expenses for double the grant amount – that is, the grant amount and your matched funding. Your grant agreement will outline a reporting and payment schedule. Cannot vary grant agreement to a higher amount if spend moreI understand that the grants are lower than your expected, but Austrade will not vary the amount of an agreement in a way that will result in a higher payment as the funding pool available for each Tier is fully allocated at the time of entering into grant agreements. So, the grants amounts are fixed in your plan agreement. Accept your grant agreement by MyGovIDFor accepting EMDG grant agreement, we could not accept it on your behalf as EMDG consultant. There is no option for paper agreement acceptance procedure. You must have a MyGovID to access EMDG online portal and accept the agreement. Log in to EMDG online portal to view a copy of your agreement:· Accept the agreement by clicking on the ‘Accept agreement’ button - this is the equivalent of a signature. You must have a MyGovID to accept the grant agreement.· Accept the agreement within 21 days of receiving the offer· Austrade will then execute the grant agreement· You can view and download a copy of the grant agreement for your records from the online portal. If you do not have a MyGovID, follow these steps as below. MyGovIDA MyGovID is the Australian Government’s digital identity, a way to prove who you are online. Download MyGovID and set it up based on set up procedures. Once the app is set up, you need to link your MyGovID to your business using the authorization service called Relationship Authorization Manager (RAM). Link your MyGovID to your businessTo get started, the principal authority (business owner) needs to do the following:· Download the MyGovID app from the App Store or Google Play and use your Australian identity documents to enroll.· Log in to RAM using your MyGovID and link your business. Before you link your business, check your details on the Australian Business Register are up to date so RAM can use the correct information.· (optional): Some clients do not have MyGovID, then please use this alternative step to accept it: authorize your employees and others in RAM to act on behalf of your business online. They will receive an email to accept the authorization request using their MyGovID. Matched funding and milestone reportsThe maximum grant amount you will get per financial year will be shown in your grant agreement. It’s important to remember: · You must spend double the value of the grant amount in the financial year on eligible expenses. This means the grant amount plus your matched funding.· Your matched funding must at least equal the amount of your grant. If you spend an amount more than required to get the maximum grant amount, you will only get the maximum grant amount. If you spend less, you will only get up to half (50%) of the total amount you spent. Milestone reportsMilestone reports are part of your grant agreement. You must submit these regardless of the amount you spend. Find out when and how to do this by checking the reporting and payment schedule in your agreement. All grantees will be required to submit milestone reports. You must also keep all records related to eligible promotional marketing expenditure and provide it to Austrade on request. Chang Accounting Advisory Pty Ltd, we are CPA practice and EMDG Consultant. If you or your families or friends need our services, please feel free to contact our team for any assistance. This article is for informational purposes only and does not form part of our advice. This article is based on Export Market Development Grants Guidelines and website information. Please contact our team if you need any assistance.Claire Chang, 0497 131 419, claire.chang@changadvisory.com.au, wechat: clairechang26Michelle Cui, 0433 539 870, michelle.cui@changadvisory.com.au, wechat: michellejc