In a decision handed down on Wed 12.3.2014, the NSW Civil and Administrative Tribunal affirmed a decision of the Chief Commissioner of State Revenue (NSW) to assess 2 taxpayers (brothers) to land tax in respect of a property for the 2008 to 2012 land tax years. The taxpayers had contended that they were entitled to…
The State Revenue Legislation Amendment Bill 2014 (NSW) (formerly known as State Revenue Legislation Amendment Bill 2013 (NSW)) proposed a number of amendments to the Duties Act 1997 (NSW). Some of the main amendments include: making further provision for duty on transfer of options to purchase land, including to prevent avoidance practices; making further provision…
The Payroll Tax Rebate Scheme (Jobs Action Plan) Amendment (Fresh Start Support) Bill 2014 (NSW) was introduced into the NSW Legislative Assembly on Thur 6.3.2014. The Bill proposes to amend the Payroll Tax Rebate Scheme (Jobs Action Plan) Act 2011 (NSW) to implement the NSW Government’s proposed support scheme to provide for an additional payroll…
The Duties (Commercial Leases) Amendment Bill 2014 (ACT) was introduced into the ACT Legislative Assembly on 20 March 2014. It proposes to amend the Duties Act 1999 (ACT) to introduce a premium-based method for assessing duty on commercial leases, being leases that have only a commercial purpose, or more than one purpose including commercial purposes. Examples of…
The Tax Practitioners Board (TPB) has released for comment Exposure Draft Information Sheet TPB(I) D21/2014 (Code of Professional Conduct – Confidentiality of client information). The Draft aims to assist registered tax and BAS agents understand their obligations under s 30-10(6) of the Tax Agent Services Act 2009 (TASA) (Code Item 6), which is one of the…
The Tax Practitioners Board (TPB) has released information on a notification option for becoming registered as a tax (financial) adviser. Under the notification option, there are no application fees payable, individuals do not need to meet education and experience requirements, and partnerships and companies do not need to meet the sufficient number requirement. The Board…
The Tax Practitioners Board (TPB) on Fri 7.3.2014, released for comment Exposure Draft Information Sheet TPB(I)D20/2014 (What is a tax (financial) advice service?). From 1 July 2014, entities that provide tax (financial) advice services for a fee or other reward may start registering with the TPB. The Draft Information Sheet aims to assist entities to determine if they are…
An applicant has been unsuccessful before the AAT in seeking to overturn the decision of the Tax Practitioners Board (TPB) refusing his application to be registered as a tax agent. The applicant provided he would be content for his registration to be made conditional upon him being permitted only to prepare individual tax returns, including…
The AAT has affirmed a decision of the Tax Practitioners Board (TPB) to not renew the registration of a tax agent on the basis that he was not a “fit and proper” person for the purposes of the Tax Agent Services Act 2009. The applicant had been a registered agent since 1988, and following complaints…
The AAT has made an order staying a decision not to renew a tax agent’s registration. In December 2013, the Tax Practitioners Board (TPB) decided not to renew the applicant’s registration as a tax agent on the basis that she was not considered to be a “fit and proper person”. This was based on ATO audits in…