In a decision handed down on Wed 8.10.2014, the NSW Civil and Administrative Tribunal refused a taxpayer’s claim for the primary production land tax exemption in respect of a property for the 2012 land tax year. The taxpayer claimed that on the taxing date (30 December 2011), it was using the land for the dominant purpose of…
The Queensland Office of State Revenue has released DA375.1.1: Administrative arrangement – s 375 of the Duties Act 2001 – insurance duty exemption for health insurance. Section 375 of the Duties Act provides that insurance duty is not imposed on a contract of insurance entered into in the course of an insurer’s health insurance business as…
The WA Office of State Revenue (OSR) has issued the following Commissioner Practices: DA 33.0 (Duties – Transfer of land under bailiff seizure and sale order) – outlines how the Commissioner will assess the duty liability relating to the sale of property by a property (seizure and sale) order where a purchaser agrees to assume…
The WA Office of State Revenue (OSR) has recently issued the following Revenue Ruling and Commissioner’s Practice: LT 1.2 (Withdrawal of memorials and consent to deal on land) – this Ruling identifies the circumstances in which the Commissioner will provide a withdrawal of a memorial or consent to deal on land where the whole of…
The State Revenue Legislation Further Amendment Bill 2014 (NSW) has passed all stages of the NSW Parliament without amendment and awaits Assent. It contains: 1.amendments to the Payroll Tax Act 2007 (NSW) to clarify and restrict certain exceptions from the contractor provisions under that Act; 2.amendments to the Payroll Tax Rebate Scheme (Jobs Action Plan)…
The State Revenue Legislation Amendment (Electronic Transactions) Bill 2014 (NSW) has passed all stages without amendment after having been passed by the Legislative Council on Wed 22.10.2014, and awaits Royal Assent. The Bill proposes to amend the Duties Act 1997 (NSW) and the Taxation Administration Act 1996 (NSW) to make further provision for the assessment…
The Budget Measures Bill 2014 (SA) received Assent on 2 October 2014 as Act No 11 of 2014. The Bill implements the SA Budget 2014 measures including the introduction of an $8,500 Seniors Housing Grant (SHG) for new homes where contracts are entered into between 1 July 2014 and 30 June 2016 inclusive. Further information on the Seniors Housing Grant is…
The Tax Practitioners Board (TPB) has reminded tax and BAS agents that from 1 July 2015, their professional indemnity (PI) insurance policy must include retroactive cover. Retroactive cover provides insurance for any claims which may arise prior to the start date of the agent’s current policy. The TPB has updated Explanatory Paper TPB(EP) 03/2010 Professional indemnity (PI) insurance (updated…
The TPB has advised that it is moving its Sydney office from Hurstville to the Sydney CBD on Friday 31 October 2014. The new postal address is: Tax Practitioners Board, GPO Box 1620, Sydney NSW 2001. The Board says its enquiries line on 1300 362 829 will be unavailable from 12pm (AEDST) on 31 October 2014 and resume at…
The AAT has 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 a period of 5 years from the date of termination. The agent had been registered since 1 January 2010 and sought renewal of his registration in November 2012. The Tax…