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| | Motor vehicle duty and land tax webinar | GoAuto News,
Sandringham
by John Mellor
| 21 Feb 2024 | | General News - Page 35 - 326 words - ID 2039291494 - Photo: Yes - Type: Car Review - Size: 337.00cm2 | |
VACC joins with Victorian State Revenue Office for updates on dealer obligations
THE Victorian Automotive Chamber of Commerce (VACC) is alerting VACC members who trade as Licensed Motor Car Traders (LMCT) to what it is calling a very special webinar hosted by the chamber and the Victorian State Revenue Office (SRO).
VACC's M i c h a e l McKenna said that the VACC "holds a very important position on the Victorian Government State Taxes Consultative Council and uses this position to help inform policy reform initiatives on behalf of VACC's 1600 LMCT members".
He said that the Chamber has "seen a bit of activity from SRO over the past few weeks and now is a good time for dealers to ensure they are conversant with what's happening".
Mr McKenna said there were also some key changes to land tax for those who are holding property.
"The webinar will cover issues LMCTs encounter daily when dealing with Motor Vehicle Duty and the obligations LMCTs have under Chapter 9 of the Duties Act 2000 (Vic).
VACC members can attend for free.
Mr McKenna will facilitate the webinar, which will feature SRO's Evonne Ng, principal customer education consultant, and key SRO personnel who will address any technical issues.
The webinar will focus on: Obligations: LMCT general obligations under the three key SRO Revenue Rulings (DA-022, DA-034v2 and DA- 035v2) that deal with calculations of a vehicle's dutiable value, change of use provisions and exemptions from Motor Vehicle Duty.
Common errors found by SRO regarding: . LMCT's undervaluation of vehicles . Claiming duty exemption by LMCTs outside requirements . Failure of LMCTs in notifying the SRO regarding a vehicle's change of use.
Land tax: . 2024 overview of thresholds, surcharges and exemptions . 2025 VRLT changes . Land tax and WGT apportionment prohibition . Phasing out of land transfer duty for commercial/industrial properties.
The webinar, which is aimed at Dealer Principals, CFO, F&I, administration and registration
Caption Text:
Michael McKenna
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