Monthly Archives: February 2017

*‘Tax Justice Network’ recommends rewarding tax evasion whistleblowers and that Multi-national Enterprises report worldwide to the ATO with ‘unitary tax’ details [120]

The Tax Justice Network Australia (TJN) has recommended that the Government introduce legislation, modelled on US legislation, to protect and reward private sector whistleblowers that expose tax evasion, tax avoidance and fraud against all levels of government in Australia. The reward, it said, should be a proportion of any funds recovered as a result of the…

OECD adopts Declaration on [Tax] Base Erosion and Profit Shifting [116]

On 29 May 2013, the OECD Ministerial Council at Ministerial Level, comprising countries including Australia, the UK, US, EU, France, Germany, etc, adopted a declaration on [Tax] Base Erosion and Profit Shifting (BEPS). It declared there was a pressing need to address BEPS and to work towards a level playing field in this area. The Council agreed…

Qld payroll tax: profit distributions and loan accounts – Public Ruling [111]

The Qld Office of State Revenue (OSR) has issued Public Ruling PTA016 (Profit distributions and loan accounts). The harmonised Ruling clarifies the payroll tax treatment of certain payments and loans made to the proprietor of a business who is also an employee of that business and is taken to have commenced on 1 July 2008. The OSR…

ACT stamp duty: ISPT Pty Ltd & Comr for ACT Revenue – taxpayer loses appeal – lease dutiable under transitional provisions [106]

The ACT Civil & Administrative Tribunal has dismissed a taxpayer’s appeal against an earlier decision and affirmed that a “new lease” executed on 9 May 2010, after the date mentioned in s 150A of the Duties Act 1999 (ACT) of 30 June 2009, was chargeable with duty under the transitional provisions of s 421 of the Duties Act. In September 2004, the taxpayer…

WA – Duties Legislation Amendment Bill 2013 – passes Legislative Assembly – it will unwind the abolition of transfer duty on non-real business assets [105]

The Duties Legislation Amendment Bill 2013 (WA) has passed WA Legislative Assembly without amendment and has moved to the Legislative Council. It proposes amendments to the Duties Act 2008 (WA) and the Duties Legislation Amendment Act 2008 (WA) to unwind the scheduled abolition of transfer duty on non-real business assets such as business licences, goodwill…

Vic: State Tax Laws Amendment (Budget and Other Measures) Bill update [104]

The State Tax Laws Amendment (Budget and Other Measures) Bill 2013 (Vic) has passed the Victorian Legislative Assembly without amendment and has moved to the Legislative Council. It contains amendments to the Congestion Levy Act 2005 (Vic) to expand the levy to short-stay car spaces and to increase the levy rate as announced in the…

SA Govt announces payroll tax concession ahead of Budget [100]

SA Premier Jay Weatherill Wed 5.6.2013, announced that small businesses in South Australia will receive a payroll tax concession in a suite of initiatives to support small business in the 2013-14 State Budget (to be handed down on Thur 6.6.2013). Mr Weatherill said the Budget will provide for over 2 years a temporary payroll tax rate…

NSW Budget 2013-14: payroll tax threshold increase and $15k First Home Owners’ Grant extended 2 years to June 2015 [96]

The NSW Budget 2013-14 was handed down on Tue 18.6.2013. NSW Treasurer Mike Baird announced that the payroll tax threshold will be increased from $689,000 to $750,000 from 1 July 2013, and that indexation will be removed. Mr Baird also announced that the “Jobs Action Plan” payroll tax rebate will be extended for another 2 years, until June 2015,…

SA: land tax thresholds for 2013-14 financial year to remain the same as for 2012-13 [103]

RevenueSA has advised that the SA Commissioner of State Taxation on Thursday 13.6.2013, gazetted a notice that the land tax thresholds for the 2013-14 financial year will remain the same as the 2012-13 financial year. Source: RevenueSA Information Circular 57 [LTN 112, 13/6/13]

Financial Advisers – amending the Corporations and Tax Agents Services Regulations ahead of their regulation [92]

The Tax Administration and Tax Agent Services Legislation Amendment Regulation 2013 was registered Mon 17.6.2013. It amends the Corporations (Fees) Regulations 2001, Tax Agent Services Regulations 2009 and Taxation Administration Regulations 1976 to: allow the Tax Practitioners Board (TPB) and ASIC to more easily share information.  This, in part, enables the TPB and ASIC to…