The Taxation Legislation (Miscellaneous Amendments) Bill 2014 (Tas) and the Land Tax Rating Amendment Bill 2014 (Tas) have passed the Tasmanian House of Assembly without amendment and have moved to the Legislative Council. The Bills propose to amend the following Tasmanian Acts: the Duties Act 2001, the Land Tax Act 2000, the Taxation Administration Act…
The Stamp Duties (Off-The-Plan Apartments) Amendment Bill 2014 (SA) was recently introduced into the SA House of Assembly. It proposes to amend the Stamp Duties Act 1923 (SA) to extend the stamp duty concession for apartments bought off-the-plan to include a defined inner metropolitan area. The extended off-the-plan stamp duty concession applies to eligible off-the-plan…
The Revenue and Other Legislation Amendment Bill 2014 (Qld) was introduced into the Qld Legislative Assembly on Wed 26.11.2014. The Bill proposes amendments to the Duties Act 2001 (Qld) and the Taxation Administration Act 2001 (Qld) to support electronic conveyancing in Queensland. It also proposes other amendments to the Duties Act, the Taxation Administration Act,…
Pursuant to s 62TBA(7)(c) of the Land Tax Management Act 1956 (NSW), the amount of $432,000 has been determined as the tax threshold for the 2015 NSW land tax year (up from $412,000 for the 2014 land tax year). Further, pursuant to s 62TBC(4) of the Act, $2,614,000 has been determined as the premium rate threshold for…
A tax practitioner has appealed to the Federal Court against the decision in AAT Case [2014] AATA 766, Re Frugtniet and Tax Practitioners Board. In that case, the AAT affirmed the decisions of the Tax Practitioners Board to terminate the applicant’s registration as a tax agent and to preclude him from applying for registration for…
The Tax Practitioners Board (TPB) has updated the following lists of Board approved courses: Australian taxation law qualifications list; Basic accountancy principles qualifications list; BAS agent qualifications list; and Commercial law qualifications list. [LTN 225, 20/11/14]
The House of Reps Standing Committee on Tax and Revenue on Mon 24.11.2014, tabled its report 2013 Annual Report of the Australian Taxation Office: Second Report. The Report said the ATO has made progress on many of the issues raised by the Committee during the first public hearing of its inquiry. Committee Chairman John Alexander said…
The Inspector-General of Taxation on Fri 14.11.2014, released 2 reports: Follow-Up Review into Delayed or Changed ATO Views on Significant Issues (“U-turns” review); and Follow-Up Review into the ATO’s Implementation of Agreed Recommendations in 5 Reports Released Between August 2009 and November 2010. Regarding the Follow-Up Review on ATO “U-turns”, the Inspector-General found that the ATO has fully implemented…
The Australian National Audit Office has undertaken an independent performance audit in the ATO titled Administration of Contact Centres. It has now released its ANAO Report No 7 2014-15 outlining the results of the audit. The ANAO said ATO contact centres are a major communication channel for taxpayers to contact the ATO and have generally…
The Australian National Audit Office has undertaken an independent performance audit in the ATO titled Annual Compliance Arrangements (ACAs) with Large Corporate Taxpayers. It has now released its ANAO Report No 5 2014-15 outlining the results of the audit. ACAs were introduced in 2008 in response to feedback from large corporate taxpayers that they were…