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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Global | Publication | December 2017
Yesterday the re-elected Queensland State Government issued its Mid Year Fiscal and Economic Review 2017/18 which confirmed its intention to increase the highest band of land tax by 0.5% for aggregated holdings above $10 million from 1 July 2018. If implemented, this will have an impact on the value of commercial, retail, industrial and tourism property portfolios.
In fact, analysis by the Property Council of Australia (PCA) reveals that the land tax increase would wipe between $1 billion and $1.25 billion off the value of commercial property values in Queensland. It is also intended that Queensland’s lower additional foreign acquirer duty will be increased from 3% to 7% from 1 July 2018 in line with other jurisdictions. The PCA is asking the Government to undertake a full review of the property tax framework in the new year prior to moving to implement these proposed increases.
These revenue measures announced by the Government are part of a package for the period 2017-18 to 2020-21, in which taxation estimates have been increased by $521 million, most of which is due to revenue measures announced by the Government (through a combination of expenditure reprioritisations and revenue measures, including those above) to be implemented in consultation with key stakeholders.
For further information about this update or real estate investment in Australia generally, please contact Michael French on (07) 3414 2252.
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It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
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On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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