Daily Archives: September 23, 2016

Re DTMP and FCT – taxpayer’s late request for an expansion of her grounds of appeal denied for the primary tax because FCT prejudice (would have assessed others) but allowed for penalties (no prejudice)

Re DTMP and FCT – Grounds expansion requests: primary tax denied, but penalty allowed A taxpayer has been largely unsuccessful before the AAT in seeking to expand her grounds of objection against income tax assessments and associated penalties. The taxpayer was issued with an amended income tax assessment within time allowed by s 170(1) of the…

Re RSPG and FCT – AAT denies taxpayer 91% credits for ITCs on construction of a retirement village – given large percentage of ‘residential premises’

On 7 September 2016, the AAT affirmed the Commissioner’s objection decision and rejected a taxpayer’s claim to input tax credits (ITCs) on 91% of the cost of acquisitions for the construction of Stage 1 of a retirement village. The case concerned the extent to which acquisitions made in the course of the construction of the…

Agricultural Land Register – First Report – 13.6% of agricultural land foreign owned and UK holds more than all the rest put together (52%)

On 7 September 2016, the Treasurer released Australia’s first report from the Agricultural Land Register, delivering on the Government’s commitment to increase scrutiny and transparency in Australian agriculture. The Land Register shows foreign investors hold just 13.6 per cent of all Australian agricultural land. The United Kingdom is Australia’s principal source of investment in agriculture with…