Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

Joel Robinson

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

First look: Fivex plans 39-storey residential tower in booming North Sydney

Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.

Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.

[smartcode_project:default project_id=139896 project_image_fid=295098]

Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.

"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."

Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.

[smartcode_project:default project_id=139896 project_image_fid=352274]

Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.

"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.

Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."

Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”

[smartcode_project_cta:default project_id=139896]

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.

Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.

"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;

“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”

He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.

<img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" />

The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;

Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.

Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.

<img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." />

&nbsp;

There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.

Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.

"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

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When Malcolm Turnbull addressed the National Press Club this week I was really hoping that he was going to announce some major policy critiquing for all matters pertaining to Australia’s ongoing housing affordability woes. 
Sadly, very little was offered where he clearly laid the blame at the states and territories which simply identified that very little would be happening to this space.
We can then expect political huffing and puffing until November 2, 2019 which is when Australia must contest the next election. A very strong possibility that we will see a changing of the guard where negative gearing laws will be changed which will then probably coincide with a major property downturn. On that basis, it is clear to predict the game plan for the next two and a half years. Property investors will go -hard simply because they want to get in before the negative gearing rules are changed (should there be a change in government.)
There is no doubt that property prices will continue to rise in 2017 to the extent that we may well see the cumulative house prices reach 100 per cent gains in five years in some areas. The latest statistics from CoreLogic revealed this week, identified the January price rise results showed Melbourne up an additional 11.8 per cent and continues to run amok at 16 per cent. Since June 2012, the cumulative increase in house prices has been 70.5 per cent, CoreLogic reported.
Two things I was expecting announcements on this week were immigration and reducing the off – the – plan ratios to overseas buyers. CBA senior economist Michael Workman said, ‘’housing affordability is set to worsen without federal action. 
The Federal Government controls some of the significant demand factors for housing markets, namely population growth via migration and the spectrum of tax and foreign investment policies that significantly inflate demand for existing and new housing. Housing affordability can be improved, via stabilising growth in house prices and rents, by gradual reforms to both supply and demand issues.”
In the present property environment, there is no need for off – the – plan sales to foreign buyers to remain at 100 per cent and this ratio is controlled by the Turnbull government.
<a href="https://www.propertyobserver.com.au/images/2017/06/VRN-2.png" target="_blank">Click to enlarge </a>
<img src="https://www.urban.com.au/images/2017/06/VRN-2.png" alt="">
Despite the construction of thousands of new apartments, we are not seeing an easing of rents as was the expected case. Data analysis from the NSW Rental Bond Board identified that NSW has more tenants than ever before. No surprises to learn that the most expensive five suburbs are Manly, Waverly, Woollahra, Willoughby and Mosman.
We can therefore expect to see these areas hot – spotting with investors as they know these areas provide the best rental returns as well as capital appreciation. Investors will keep driving these markets simply because the federal government has tinkered with superannuation, and property markets are out-performing the share market.
Of course, we all know that this will change over time although the momentum is much stronger with our respective governments doing absolutely nothing aside from weekly lip service.
 
<a href="https://www.propertyobserver.com.au/images/2017/06/VRN-Statistics.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/VRN-Statistics.png" alt="">
 With much being written about money laundering within the Australian property markets the appointed watchdog, the Australian Transaction Reports and Analysis Centre (AUSTRAC), is investigating more than $3 billion in suspicious transfers from Chinese property investors last year.
This was further backed – up late last year when the major Australian lenders ceased lending to foreign buyers amid concerns. I was then surprised to read this week that foreign investors are again on the surge where this time they are paying cash to settle the full amount of the purchase.
Now many will be asking the obvious questions as to where all these monies are originating from based on recent announcements that the Chinese government had shut down money transfers from China?
Well, allow me to lay your concerns to rest – the smartest thing that Joe Hockey did when he was treasurer was to hand all data collection on every property transfer in Australia over to the Australian Taxation Office (ATO). You may have forgotten that some months later after reviewing the respective data an excited ATO announced that they were expanding their forensic property investigations back to 1985.
Just this week, I received a telephone call from one of the ATO investigators requesting purchaser contact information for a property we sold late last year. Nothing was said, I simply adhered to their request and provided the relevant information.
What this clearly tells us, is that every property transaction is scrutineered by the ATO and you can no longer beat the system.
With so many discussions on housing affordability this is one announcement that should please all those closely following the real estate movements. As each property settles all the data is then sent to the ATO for recording and investigation.
It has become very clear that everybody buying Australian real estate should know that each transaction is noted and investigated. And yes, they have the resources.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000.
 
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robertsimeon-hRNTwJyXkQ

Why housing affordability is a political no – go zone: Robert Simeon

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I was left eating humble pie this week following comments I made in an interview that appeared in the Australian Financial Review pertaining to the federal government’s announcement that another six homes had been identified as being acquired illegally and a further 462 sales under investigation. 
My response was “It’s nothing more than a PR stunt and a distraction. It’s been done for feel-good cuddles” – how wrong was I.
Later that day, I received an email from the Australian Taxation Office (ATO) boss heading up this investigation which (politely) outlined the detail of their inquiry which clearly identified the magnitude of this investigation which earnestly commenced in May this year. Owners of property bought illegally must voluntarily contact the ATO prior to 1 November 2015 to receive an amnesty of not being prosecuted.
Now once and for all, we will find out exactly what’s been happening as I have been saying for quite some time that this is rife within the real estate industry. It will be fascinating to see what recommendations are made and then implemented. I have been a strong proponent of tax file numbers being provided to the ATO on the exchange of contracts for every residential sale. It will also be interesting to see if the 100% selling ratio for all new developments is brought back to 50% as it was in 2008? Opening up our property markets to international exposure has certainly led to rapid price growth from Asian property investors.
Australia had a record number of 1.7 million international tourists visit last year which included a 21% surge from China.
This inquiry is timely given the number of recent global warnings of money laundering in real estate where Sydney and Melbourne have been suggested as hot spots. Residential property in Australia is the single largest and most valuable asset class worth an estimated $5.7 trillion. Sydney now ranks third in the world for luxury residential annual price growth according to Knight Frank’s Prime Global Cities Index. Sydney’s 12.5% growth now sits just behind Miami on 13.9% and Vancouver on 15% annual price growth. The report also identified that “a year ago eight cities recorded double – digit annual price growth. This quarter only four cities fell within this bracket.”
China’s shock devaluation significantly raises the risk that the Reserve Bank of Australia (RBA) will be forced to cut the cash rate further which is a worst case scenario for the RBA. More particularly when this week Deputy Governor Philip Lowe said “Given the position of household balance sheets, it is unlikely to be in our long – term interest for a consumption boom to be financed by a pick –up in household borrowing.”
“Ever-rising house prices, relative to our incomes, do increase risks in the economy and are unlikely to make us better off as a nation. Rising housing prices are best matched by rising incomes.”
Then of course we will have to wait to see how many divestment orders are issued by the ATO where hopefully the owners won’t be allowed to “flip” which was the case when Villa del Mare was issued with the first divestment order a few months back.
Another interesting aspect will be closely watching the Sydney and Melbourne clearance rates now that it is very clear the role that the ATO is playing with their pursuit of illegal purchases given that I am not the only one who thought this was all political shirt-fronting.
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 63
• Number of houses on the market last week – 48
• Number of houses on the market this week – 47
• Number of apartments on the market this time last year – 55
• Number of apartments on the market last week – 41
• Number of apartments on the market this week – 40
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year – 7
• Number of houses on the market last week – 3
• Number of houses on the market this week – 2
• Number of apartments on the market this time last year – 14
• Number of apartments on the market last week – 30
• Number of apartments on the market this week – 18
<h5>NEUTRAL BAY – 2089</h5>
• Number of houses on the market this time last year – 4
• Number of houses on the market last week – 2
•Number of houses on the market this week – 2
• Number of apartments on the market this time last year– 36
• Number of apartments on the market last week – 26
• Number of apartments on the market this week – 25
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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Federal government property taskforce not for feel-good cuddles: Robert Simeon

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The Australian Taxation Office assistant commissioner Karen Foat predicts there will be a significant rise in negatively geared investors who claim a bigger tax deduction when their COVID-19 rental income does not cover the expense of owning the property.
Despite low interest rates, Australia's 2 million landlords have also missed out on millions of dollars in rental income.
<p data-gtm-vis-recent-on-screen-6236702_632="1593308659117" data-gtm-vis-first-on-screen-6236702_632="1593308659117" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">Landlords collectively typically declare about $43 billion in total rent and $47 billion in deductions, Ms Foat told Nine Entertainment, with around 60 per cent of rental properties negatively geared.
"But we also know that this year, there's a lot of landlords who are receiving a reduced amount of rent, whether that's because their tenants are paying less, or unable to pay at all, or if their property is sitting vacant," she said.
"We would anticipate that there is going to be a greater number of people whose properties end up negatively geared because they still claim the expenses but they are likely to have some level of reduced rent."
SQM Research managing director Louis Christopher anticipates a national 2.5 per cent decline in aggregate rents for the 2020 financial year, and a 2.5 per cent decline for the following year, bringing total rental income down to $40.9 billion.
This could lead to an extra $2 billion worth of losses claimed at tax time.
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j.ballantyne1990-6AQqhLzZaK

ATO expects bigger landlord tax deduction claims given COVID-19 rental income drop

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The ATO has issued a guide to explain how to treat rental income and expenses, including how to treat more than 230 residential rental property items.
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<a href="https://www.ato.gov.au/uploadedFiles/Content/IND/downloads/Rental-properties-2020.pdf" target="_blank">Rental properties 2020</a> will help owners of rental property in Australia to determine:
* which rental income is assessable for tax purposes 
* which expenses are allowable deductions
*which records you need to keep
* what you need to know when you sell your rental property.
The guide explains how to apportion your expenses if only part of them are tax deductible.
It advises tax payers can no longer claim tax deductions for the cost of holding vacant land.
It also advised the situation if your rental property income and deductions have been affected by COVID-19 or recent natural disasters.
 
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2020 ATO tax guide for rental property expenses - how investors should treat 230 residential property items

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The Federal Court has frozen the assets belonging to Chinese businesswoman Min Wang, whose company is redeveloping the Swanston Central precinct in Melbourne. 
The assets frozen by the Federal Court judgment include a Normanby Street, Brighton home, an 2014 Aston Martin, a 2016 Rolls Royce, and a $106 million loan from a family trust.<source media="(min-width: 1180px)" data-pb-im-config='{"aspectRatio":0.666667,"type":"portrait2x3","width":220,"urls":["https://static.ffx.io/images/$zoom_1.488%2C$multiply_0.582%2C$ratio_0.666667%2C$width_378%2C$x_98%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/4b01223f785235ea084276adf0131248d78379c4"," https://static.ffx.io/images/$zoom_1.488%2C$multiply_1.164%2C$ratio_0.666667%2C$width_378%2C$x_98%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_42%2Cf_auto/4b01223f785235ea084276adf0131248d78379c4 2x"]}' srcset="https://static.ffx.io/images/$zoom_1.488%2C$multiply_0.582%2C$ratio_0.666667%2C$width_378%2C$x_98%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/4b01223f785235ea084276adf0131248d78379c4, https://static.ffx.io/images/$zoom_1.488%2C$multiply_1.164%2C$ratio_0.666667%2C$width_378%2C$x_98%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_42%2Cf_auto/4b01223f785235ea084276adf0131248d78379c4 2x"></source>
The Australian Taxation Office issued an assessment to Ms Wang totalling $103 million for the 2015 and 2016 years.
It is the second major tax dispute involving a Chinese property developer after billionaire Huang Xiangmo had his assets frozen over a $141 million tax debt.
Ms Wang and her husband, Liang Chen operate the Shandong Hengyi Group.
<div id="endOfArticle" class="_3PsH9">
The Melbourne-based Hengyi is developing 1000 apartments in the 72-storey tower in Swanston Street.
Ms Wang started in property development in Australia in 2010.
In 2014, she, Mr Chen and their children were granted permanent visas under Australia's business talent scheme.
The October 28 freezing order has been extended on until November 25.
The judgment by Justice Davies says there was "sufficient basis on which to be satisfied that there is a danger that assets may be dissipated in order to frustrate recovery."
"The amount of tax liability is very significant in circumstances where she has both the means and the motive to remove assets because of her control of each of the corporate entities and of the trusts of which those corporate entities are trustees," it says.
There was allegations that Ms Wang made false statements in her income tax returns for the 2014 and 2015 income years about her interests in China by saying she did not have assets outside Australia valued at $50,000 or more or an interest in any foreign controlled company, the judgment says.
"There is also evidence that Ms Wang gave misleading information to the Australian Taxation Office concerning the funding of the purchase and development of the property at 199 William Street, Melbourne by Hengyi Australia, a company of which Ms Wang is a sole director and shareholder," the judgment says.
"The evidence discloses that Ms Wang has experience in international financial dealings and a history of transferring assets and liabilities between related parties.
"She also has a history of not putting commercial agreements between related parties into writing."
The order does not prohibit Wang paying herself up to $1,000 a week in ordinary living expenses and paying reasonable legal expenses.
</div>
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Swanston Central Chinese developer's assets frozen by ATO over $103m tax bill

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The exiled Chinese billionaire Huang Xiangmo has accused the Australian Tax Office of being a "political weapon" that was surrendering to "unknown dark forces".
He said the Tax Office had been "reduced to a despicable tool of political persecution".
He questioned whether "Australian politicians and media outlets who bank on telling tales about China and the Chinese [are] any different from the White Supremacists or the McCarthyites".
The property developer is fighting a $140 million tax bill by resisting a court order to disclose his worldwide assets which the ATO seeks to freeze.
The Tax Office is seeking to bankrupt the Chinese billionaire.
The <a href="https://www.huangxiangmo.com/" target="_blank" data-track-relatedarticle="inarticlelink">statement</a> was published on his personal website.
Huang, a central figure in the ICAC's ongoing inquiry into the alleged Aldi plastic bag NSW Labor donations, has resided in Hong Kong since his Australian permanent residency visa was cancelled last December.
"Before my visa was unfairly revoked by ASIO, [the] ATO had not once brought up the large amount of tax payable as alleged in the case," Huang said.
"By taking advantage of its tax collection power for the purpose of political character assassination and persecution, the ATO has turned into a 'political weapon'."
Huang said accusations of him of being a Chinese "agent of influence" came without "even a hair of evidence for such allegation".
The bulk of the tax bill was attributed to the sale of a mansion in Hong Kong, which was said to give rise to a capital gains tax liability.
On Monday, the Federal Court continued the freezing order.
It ordered Mr Huang to disclose his worldwide assets within 21 days.
The ICAC is investigating allegations Huang made a $100,000 cash donation to the NSW Labor Party in 2015.
Huang was banned from making political donations in NSW under laws targeting property developers.
He has declined to give evidence by video to the ICAC but denied making the donation.
Huang said he had an "impeccable" tax record in Australia and had "never ... had any history of default anywhere, let alone any record of tax evasion".
Earlier this year two Australian Chinese-language papers devoted their front pages to an open letter backing exiled billionaire property developer after his permanent residency was cancelled for reasons including character grounds in early February.
It says the Morrison government's decision to cancel Huang's residency was outrageous and calls for it to be overturned.
The letter appears to be a paid ad.
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Exiled billionaire Huang Xiangmo brands Australian Tax Office a 'despicable tool of political persecution'

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The ATO are set to seize the personal finance data of more than 200,000 Airbnb homeowners in an attempt to crackdown on tax avoidance.
"Airbnb is currently under legal notice by the Australian Taxation Office to share information concerning your hosting activity from the period from 1 January to 30 June 2019," an email sent out to Australian members of Airbnb.
The move comes after the ATO suggested they believe there are a number of people not reporting their income. 
“We believe some people using sharing-economy platforms are failing to report their income, ­either on purpose or because they assume their level of activity constitutes a hobby and doesn’t require reporting,” the ATO advised.
“We also seek to identify taxpayers who use sharing-economy rental platforms as a way to disguise their property as being genuinely available for rent by listing the property but not responding to enquiries.”
Names, addresses and emails are all expected to be given to the ATO, as well as personal finance such as online banking, payments, booking dates and gross income.
The information gathered will start from the financial years 2016-17 and run to the current financial year.
Airbnb have recently announced the <a href="/news/airbnb-short-term-rental-rules-in-new-south-wales-get-closer">new draft rules for their hosts and guests</a> which includes an online list of banned members, as well as a three strikes and you're banned policy.
 
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Airbnb to hand over letting details to ATO

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The Australian Tax Office has signalled a crackdown on investment property tax claims.
It comes as a growing number of people top up their exisiting loans, then claim deductions on cash being used for new cars, holidays or to pay down other debt.
Karen Foat, ATO assistant commissioner, told Nine Entertainment it was targeting investment properties as "a top priority" after analysis revealed 90 per cent of rental deductions contained an error.
Foat advised audits scrutinising rental deductions will double this year amid the 2.2 million investment property owners.
The crackdown will look at borrowers who have used their loan account like a regular bank account, with deposits and withdrawals for a variety of private, investment or business purposes.
"If you have a loan that you use to buy an investment property, but then you draw down on the loan and pay for a holiday or car - the purpose of the loan is now partly investment and partly private, meaning that only some of the interest on the loan is likely to be tax deductible," said William Buck tax services director Todd Want.
Mr Want warned another focus will be investors who make one-off deductions for repairs or additions to an investment property that need to be claimed over several years.
Mr Want added: "The key point here is - were the materials the same, or similar and does the repair achieve the same function? If you replace it with something that is superior, then you probably can't claim the deduction, it must be depreciated over a number of years."
He said: "It might not be deductible in the year of replacing it, but instead needs to be depreciated and claimed over time.
The ATO has previously signalled it will also focus on people who do not declare income from short-term rentals or renting part of a house or unit.
Holiday property owners who claim expenses for periods where it not genuinely available for rent, or was used privately, will continue to be closely monitored.
 
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ATO's latest property investment crackdown

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The Australian Taxation Office (ATO) has filed a wind-up application against Park Trent Properties Group on the ground of insolvency. 
Park Trent Properties Group owes $692,579 in unpaid taxes to the Deputy Commissioner of Taxation.
The paperwork was filed February 22 in the Federal Court and it is set for an April 17 hearing.
The company, founded by Ron Cross in 1989, runs a one-stop investment shop acting as a buyer's agent, selling agent and property manager.
The taxes owing by the Wollongong-based property spruiker include a $385,537 superannuation guarantee charge assessment debt accumulated since 2016.
Park Trent Properties Group was the subject of a 2017 wind-up applications by the tax office in 2017, with Park Trent paying the ATO's legal costs.
Despite the wind-ups orders, the Australian Financial Review reported that Cross had continued to spruik his business, including directly to reporters from that publication. 
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Park Trent Properties again faces wind-up over unpaid taxes 

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According to the ATO up to 500 Tasmanian small businesses can be expecting a knock on the door from the ATO in March.
ATO Assistant Commissioner Peter Holt said businesses that advertise as 'cash only' and businesses that are operating outside will be especially targeted for a visit from the ATO.
“Businesses that pay cash in hand, or fail to lodge income tax or business activity statements get an unfair advantage and make it harder for other businesses who are doing the right thing. By detecting and addressing this behaviour, we’re helping ensure a level playing field for honest small businesses.”
Tasmanian businesses in the following industries are most likely to get a visit from the ATO in March:
<ul>
<li>Restaurants and cafes</li>
<li>Vehicle repairers</li>
<li>Personal care businesses including hairdressers and nail salons</li>
<li>Pharmacies</li>
<li>Construction businesses</li>
<li>Clothing stores</li>
<li>Grocery stores / small supermarkets</li>
<li>Butchers</li>
</ul>
“In the 2019-20 financial year, we’ll be visiting a further 10,000 small businesses across the country, including in Tasmania”, Mr Holt said.
Tasmanian businesses who are not declaring income or underpaying workers are contributing to the black economy.
“The black economy is estimated to be costing the community as much as $50 billion, which is approximately three percent of Gross Domestic Product (GDP). This is money that the community is missing out on for vital public services, like schools, roads, healthcare, and infrastructure”, Mr Holt said.
Whilst on the road in Tasmania, ATO officers will also be available to help those businesses that are trying to do the right thing.
“We obviously want businesses to succeed, so we put a lot of effort in to support, education, and assistance services. We offer seminars, videos, a dedicated small business newsroom, an after-hour call back service, even an app that businesses can use to check the performance of their business on the go”. Mr Holt said.
“We understand that people are busy and most businesses are trying to meet their obligations – but there is a difference between needing help, making mistakes and deliberate cover-ups.”
Mr Holt said the ATO will not hesitate to take strong enforcement action against those deliberately avoiding their tax and super obligations and the visits may uncover this deliberate non-compliance.
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