M o r g a n’ s T a x M o n t h – June 2013 Developments – This is a collection of developments in Australian tax law and practice that occurred in June 2013 and which aims at being of relevance to tax lawyers.* F John Morgan A member of the Victorian…
The Victorian State Revenue Office (SRO) has issued Payroll Tax Revenue Ruling PTA.013 (version 2) (Fees paid to golf professionals by golf clubs). The Ruling has been updated to clarify the wording in the first paragraph under the heading “Grouping of the business of the golf professional and the golf club”. The SRO says the…
According to Reuters, the Swiss Government is expected to set out soon how it wants to seal the settlement of a long-running tax dispute with US authorities over banks accused of helping wealthy Americans evade billions of dollars in tax. A government-brokered settlement is largely agreed, according to sources, and is expected to involve fines…
The NSW Administrative Decisions Tribunal has set aside a land tax assessment for the 2011 land tax year issued to a taxpayer after finding that the subject property was the taxpayer’s principal place of residence as at 30 December 2010. The matter involved the taxpayer’s property in Byron Bay. The taxpayer also, at the time, owned another…
The SA Supreme Court has held that a taxpayer’s appeal concerning a land tax assessment was incompetent. The Commissioner had assessed the taxpayer as being liable for land tax of some $99,000 in relation to a property. The taxpayer lodged a notice of objection (which the Minister had not yet determined). The taxpayer then lodged…
According to the OECD’s latest Economic Outlook released yesterday [Wed 29.5.2013], the global economy is moving forward, but divergence between countries and regions reflects the uneven progress made toward recovery from the economic crisis. Historically high unemployment remains the most serious challenge facing governments, the OECD said. Concerning Australia, the OECD said GDP growth is…
The Victorian State Revenue Office (SRO) has reminded taxpayers of recent legislative amendments requiring duty to be paid within 30 days of completion of the dutiable transaction or relevant acquisition. It noted that when duty is not paid within 30 days (ie a tax default), the Taxation Administration Act 1997 (Vic) provides for the imposition…
The NSW Supreme Court has allowed a taxpayer’s appeal against a duty assessment after finding that the transfer of property had been cancelled and that the relief under s 50A(1) of the Duties Act 1997 (NSW) was applicable in the circumstances. The matter concerned 3 adjacent lots for which the taxpayer’s husband was the registered proprietor.…
The NSW Court of Appeal has held that a taxpayer was entitled to object to a decision of the Chief Commissioner of State Revenue (NSW) to issue notices to third parties to ascertain taxable facts of the taxpayer for payroll tax purposes. The matter concerned legal proceedings before the NSW Administrative Decisions Tribunal between the…
The Tax Office has released the following tax return forms, schedules and accompanying guides for the 2012-13 financial year: Tax Time 2013 – Information on key changes in 2012-13 Business industry codes 2013 CGT schedule 2013 Company tax return 2013 Consolidated group losses schedule 2013 Consolidated group losses schedule instructions 2013 Dividend and interest schedule…