NSW Land Tax – Codlea Pty Ltd v Chief Comr of State Revenue – bee-keeping did not pass the test for ‘primary production’ exemption

Tax Month 2016-02

In a decision handed down on Mon 8.2.2016, the Appeal Panel of the NSW Civil and Administrative Tribunal refused a taxpayer leave to appeal an earlier decision which had refused the primary production land tax exemption for bee-keeping. The Tribunal had affirmed land tax assessments after finding that the taxpayer’s use of the relevant land for…

Taxation Laws Amendment (Implementation of the Common Reporting Standard) Bill 2015 – update on passage to law

Tax Month 2016-02

The Tax Laws Amendment (Implementation of the Common Reporting Standard) Bill 2015 was passed, on Mon 8.2.2016, by the House of Representatives, without amendment. The Bill proposes to amend Sch 1 to the Taxation Administration Act 1953 to insert a new Subdiv 396-C (as part of Div 396 – Third Party Reporting, along with the FATCA provisions). It will require certain financial…