Morrison

• To bring Beltline Yards to life, Hullmark and BGO have convened acclaimed international talent, including Britain's award-winning architecture and urban planning firm, Allies and Morrison.
• Hullmark and BGO will be drawing upon generations of expertise in designing and investing in both suburban communities and mixed-use neighbourhoods across the city to ensure that Beltline Yards reflects the spirit and values of Toronto.
• "Through our partnership with Hullmark, we continue to shift the boundaries on innovative, thoughtful, and sustainability-driven development in Toronto.
• "By connecting the city to the beltline with this master plan, we are creating a destination that will become a calling card for Toronto."

• Infratil and Legal & General Capital have increased their equity investment in Kao Data to lead the next phase of platform growth across the United Kingdom.
• LONDON, Oct. 6, 2023 /PRNewswire/ -- Kao Data , the specialist developer and operator of high-performance data centres for enterprise, cloud, HPC and AI, has announced that leading infrastructure investment firm, Infratil and Legal & General Capital , the alternative asset platform of Legal & General Group, have increased their equity stakes in Kao Data.
• Infratil will now hold a majority stake of 53%, Legal & General Capital will hold 32%, and Goldacre NOÉ Group, Kao Data's founding investors, will hold 15%.
• Since 2021, Infratil Ltd and Legal & General Capital have together invested in Kao Data, growing the company from a single site data centre developer/operator, to a multi-site platform.

• Global law firm Greenberg Traurig, LLP continues its strategic expansion with the addition of Babak Nikravesh, an international tax attorney who joins as a shareholder from Morrison & Foerster.
• PALO ALTO, Calif., Oct. 5, 2023 /PRNewswire-PRWeb/ -- Global law firm Greenberg Traurig, LLP continues its strategic expansion with the addition of Babak Nikravesh , an international tax attorney who joins as a shareholder from Morrison & Foerster.
• Nikravesh focuses his practice on investment transactions and international tax planning, advising institutional investors, including sovereign wealth funds, public sector pension funds, university endowments, social security funds, and other global organizations, on investments in the United States and abroad.
• Nikravesh said he was attracted to Greenberg Traurig because of its entrepreneurial culture.

• Why do I suddenly owe tax this year?
• This is one of the most Googled questions in Australia right now.
• Ever since Australia’s transition to self-assessment for income tax returns, we have been primed to expect an annual refund.
• The other, the focus of this piece – and it applies to many more people – is the end of the A$11 billion Low and Middle Income Tax Offset, known as LMITO.

LMITO was for higher rather than lower earners

• The benefit wasn’t available to really low earners (who were eligible for a separate offset) and it was available to people who earned a good deal more than middle incomes.
• A taxpayer on $90,000 and eligible for full LMITO would be in the top 28% of earners.

‘Temporary’, then extended, then extended again

• But in the 2020 budget, Treasurer Josh Frydenberg brought forward Stage 2 from 2022 to 2020 and kept LMITO in place to provide an “additional benefit”.
• In 2021 Frydenberg extended LMITO for yet another year to give recipients what he called a “further benefit” that would help secure the economic recovery.

Now its gone, tax bills are $1,500 higher

• If there would have otherwise been a tax bill, it would be up to $1,500 bigger.
• If there would have otherwise been a tax refund it would be up to $1,500 smaller – enough to turn many tax refunds into tax bills.
• That means millions who have submitted their forms this year are getting bills in place of refunds, and millions more are getting refunds that are smaller or bills that are bigger.

A flawed idea, at odds with advice

• Those that are means-tested (like LMITO) distort effective marginal tax rates.
• At today’s wage rates that would be a tax-free threshold of $36,000, freeing 1.3 million taxpayers from the need to pay tax.

Where to from here?

• Reaching out to the Tax Office is the key because they have tools to support you, including payment plans.
• Getting in touch rather than waiting for the Tax Office to chase you shows you are willing to comply.
• It can help to reach out to a registered tax agent if you need help to get back on track.