The Chief Commissioner of State Revenue (NSW) has lodged a notice of appeal to the NSW Court of Appeal against the decision in CCM Holdings Trust Pty Ltd & Anor v Chief Comr of State Revenue [2013] NSWSC 1072. In that case, 2 taxpayers were successful before the NSW Supreme Court in revoking assessments issued…
In an interlocutory matter, the NSW Supreme Court has refused the NSW Commissioner of State Revenue’s application for leave to serve a subpoena to produce documents on a company (Noble Group) in Hong Kong. Broadly, the underlying tax matter concerned an acquisition by the taxpayer of all the shares in another company (Donaldson Coal, a…
The Land Tax Amendment Bill 2013 (WA) has passed all stages of the WA Parliament without amendment and awaits Royal Assent. It amends the Land Tax Act 2002 (WA) to implement changes to the land tax scale as announced in the 2013-14 WA Budget. The Bill implements an increase in land tax rates of around…
The State Taxation and Financial Legislation Amendment Bill 2013 (Vic) was introduced into the Victorian Legislative Assembly on 15 October 2013. It amends the Duties Act 2000 (Vic) to make provision for dutiable transactions effected electronically by means of an Electronic Lodgment Network, an online facility for the electronic conveyance of land that is scheduled for release…
The Taxation and Related Legislation (Miscellaneous Amendments) Bill 2013 (Tas) has passed all stages of the Tasmanian Parliament without amendment and awaits Assent. Some of the key amendments include: amendments to the Duties Act 2001 (Tas) to include as consideration for the transfer of land any payment agreed to be given for improvements to the…
The Tax Practitioners Board’s (TPB) Annual Report for 2012-13 was on Mon 28.10.2013, tabled in Parliament (out of session). TPB Chair Ian Taylor said the “regulatory framework is now largely developed and giving good support to tax practitioners, the vast majority of whom provide a quality service to their clients”. The Board reported that in…
The Tax Practitioners Board (TPB) has released its Strategic Plan 2013-15. This is the second strategic plan for the TPB and sets out the Board’s direction for the next few years. TPB Chair Ian Taylor said the Board will engage and work collaboratively with tax practitioners and other key stakeholders to achieve its goals and…
The ATO on Tues 8.10.2013, issued Taxpayer Alert TA 2013/2 warning taxpayers against 2 contrived arrangements that are designed to create additional Wine Equalisation Tax (WET) rebates through non-commercial dealings between entities. Broadly, the ATO said the first arrangement involves a wine producer arranging for another entity to be the producer of some of its…
The Inspector-General of Taxation Annual Report 2012-13 has been released. The Inspector-General Ali Noroozi said there has been a gradual shift in the ATO’s perceptions of the IGT and increasingly, the ATO is appreciating that, in addition to being a scrutineer, the IGT’s office “can also play a role as an independent consultant”. Mr Noroozi…
The Australian National Audit Office (ANAO) on Tue 15.10.2013, issued Performance Audit Report No 5 of 2013-14 concerning the ATO’s administration of the personal services income (PSI) regime. The ANAO noted that at the time of preparing its report, the ATO’s PSI data was limited to taxpayers who had declared themselves subject to the PSI…