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CEO Update October

From the CEO's Desk - Looking Forward to 2021

 by Greg Cusack, CEO Ashfords

Everyone must be feeling COVID-19 fatigue, with the continuous barrage of negative news and unprecedented change impacting our lives. We should not neglect how this situation is impacting the community as a whole, and the ongoing stress it is putting on our people, our families and our businesses.  

At Ashfords, we have an obligation to help our community and we are committed to minimising stress where we can. I would like to take this opportunity to break away from the negativity of COVID-19 and focus on planning for the future.

While it is not rocket science, it is worth reminding ourselves of Benjamin Franklin’s wise words:

 “If you fail to plan, you are planning to fail.”

 Reflecting on 2020, what have we learnt? How can we use it to fuel a smart race, not a hard one for 2021?  These are some of the questions we all need to ask ourselves to start focusing on the future.

We have a whole team of great people at Ashfords, ready to help you make a start on building a solid plan for 2021.

We encourage you to get started by asking yourself these questions:

  1. What do I want to achieve in 2021?
  2. What is my biggest opportunity?
  3. What is important to me?
  4. What are my personal goals?
  5. What are my business goals?

It can be easier to have another perspective when planning for the future. We welcome an opportunity to work through this with you and invite you to reach out. Please email myself ( or your existing Ashfords advisor if you would like any assistance in planning 2021 and beyond.

Let us make the most of this year, by focusing on the future.


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What’s this new tax:

On 20 March 2024, the Victorian State Government introduced the Commercial and Industrial Property Tax Reform Bill 2024 ( The Bill is expected to become law and to take effect from 1 July 2024.

The Victorian Government, as announced in the 2023-24 Budget,  is progressively abolishing stamp duty on commercial and industrial property and replacing it with an annual tax.

The annual tax, to be known as the Commercial and Industrial Property Tax (CIPT), will be set at 1% of the property’s unimproved land value.

The tax will replace land transfer duty (stamp duty) that is currently payable on the improved value of the land when you purchase or acquire a commercial or industrial property in Victoria.

The new tax system will start to apply to commercial and industrial property if the property is transacted on or after 1 July 2024.


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