Extension of voluntary disclosure program following Oliver Hume decision
Published on 28 November 2024
At the request of industry, the Commissioner has extended the voluntary disclosure program and penalty tax amnesty to include requests for private rulings on capital raisings in landholders.At the request of industry, the Commissioner has extended the voluntary disclosure program and penalty tax amnesty to include requests for private rulings on capital raisings in landholders.
You can request a private ruling from the Commissioner if you are unsure whether your capital raising is subject to duty as an associated transaction following the decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175. The penalty tax amnesty will apply if the ruling confirms the capital raising is liable for duty.
Our website features information on the Court of Appeal decision, an updated revenue ruling, and instructions on how to make a voluntary disclosure or private ruling request.
The voluntary disclosure program and penalty tax amnesty ends on 31 March 2025.
