Daily Archives: November 5, 2016

Re FKYL and FCT- sale of 4 new residential premises taxable – not rented for 5 years; ‘margin scheme’ did not reduce tax (no written agreement); building costs not fully creditable (non-creditable rental); 25% shortfall penalty

The AAT has held that 4 properties sold by a taxpayer (a sole trader property developer) were new residential premises and therefore subject to GST. The taxpayer was registered for GST bought each of the 4 properties under the margin scheme and built residences on each of them for the purposes of sale. She did…

WA land tax: Rapp and Comr of State Revenue – land tax imposed on the portion of the PPR exempt land that became non-exempt on the subdivision (up to 5 years before the subdivision under the Act)

A taxpayer has been unsuccessful before the WA State Administrative Tribunal in a matter concerning the construction of s14 of the Land Tax Assessment Act 2002 (WA). In 2007, the taxpayer and her husband (now deceased) acquired a 16 hectare property which included 2 houses. Land tax was payable until May 2015 when the taxpayer informed…

NSW payroll tax: The National Institute of Dramatic Art (NIDA) v Chief Comr of State Revenue – despite being charitable, payroll tax exemption refused under ‘school or college’ carve out – ‘school like activities’ predominant

On Mon 17.10.2016, the NSW Supreme Court refused a taxpayer’s application for a payroll tax refund for the period 1 July 2009 to 30 June 2014. The National Institute of Dramatic Art (NIDA) (the taxpayer) sought a refund of $2,540,040 of Payroll Tax, contending that its wages were exempt pursuant to cl 12(1)(c) of Sch 2 to the Payroll Tax Act…

Qld payroll tax: Brisbane Bears – Fitzroy Football Club Ltd v Comr of State Revenue – payment for the right to use the image of players for marketing and promotional purposes held to be taxable ‘wages’

On Fri 14.10.2016, the Qld Supreme Court dismissed an appeal by the Appellant football club to payroll tax assessments, to the extent that it included, as wages, amounts paid for the use of images of players and coaches  for the Club’s promotion and marketing. There was a Collective Bargaining Agreement covering, amongst other things, the…

Superannuation reforms – tranche 3 – reducing non-concessional contributions limit from $180k to $100k pa and simplifying ‘release authority’ provisions

Superannuation reforms – tranche 3 – reducing non-concessional contributions limit from $180k to $100k pa and simplifying ‘release authority’ provisions On Friday 14.10.16, the Government released Tranche 3 of the draft legislation to implement its 2016-17 Budget superannuation reforms: exposure drafts of the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 and the relevant…