*Commonwealth Ombudsman Annual Report 2010-11 tabled – 43% increase in complaints about the ATO – due largely to botched change program [O1]

Tax Month - March 2012

The Commonwealth Ombudsman Annual Report 2010-11 was tabled in Parliament today [Tue 13.3.2012]. During 2010-11, the Ombudsman received almost 39,000 approaches and complaints, a 4% increase on the previous year. In relation to the Tax Office, the Report noted the Ombudsman received 2,589 approaches and complaints in 2010-11, an increase of 43% from the 1,810…

Conder Tower Pty Ltd & Lend Lease Development Pty Ltd cases – Vic stamp duty: additional amounts “consideration for” dutiable transaction [St5]

Tax Month - March 2012

The Victorian Supreme Court has broadly affirmed stamp duty assessments (with some exceptions) issued to various taxpayers (property developers) under the Duties Act 2000 (Vic). The primary issue concerned the decision of the Commission of State Revenue (Vic) to include various “additional” payments as “consideration for” the assessment of duty arising from the transfer of…

Lo v Chief Comr of State Revenue (RD) – NSW land tax: principal place of residence land tax exemption – taxpayer loses appeal [St4]

Tax Month - March 2012

The Appeal Panel of the NSW Administrative Decisions Tribunal has dismissed a taxpayer’s appeal against an earlier decision, which had refused the taxpayer’s claim for the principal place of residence (PPR) land tax exemption for the 2005 to 2009 land tax years (inclusive). In May 1994, the taxpayer’s parent purchased 2 adjoining properties. In July…

ALH Group Property Holdings Pty Ltd v Chief Comr of State Revenue – NSW stamp duty: deed effected novation of contract – taxpayer wins High Court appeal [St3]

Tax Month - March 2012

In a decision handed down on Thur 8.3.2012, the High Court unanimously allowed the taxpayer’s appeal against the decision of the NSW Court of Appeal. The High Court held a Deed of Consent and Assignment was a novation of a contract of sale, which caused the taxpayer to become the purchaser under a new contract,…

*Chief Comr of State Revenue v Centro (CPL) Limited – Taxpayer denied leave to appeal to High Court – 300 year lease can be disregarded for dutiable value of reversion [St2]

Tax Month - March 2012

The High Court has refused the taxpayer special leave to appeal against the NSW Court of Appeal’s decision in Chief Comr of State Revenue v Centro (CPL) Limited [2011] NSWCA 325. The NSW Court of Appeal had allowed the NSW Chief Commissioner of State Revenue’s appeal against an earlier NSW Supreme Court decision which had…

State Revenue Legislation Amendment Bill 2012 – introduced in the NSW Legislative Assembly [St1]

Tax Month - March 2012

The State Revenue Legislation Amendment Bill 2012 (NSW) was introduced in the NSW Legislative Assembly on Wed 28.3.2012. It proposes a number of amendments to the Duties Act 1997 (NSW). Some of the main amendments include: establishing a new exemption for corporate reconstruction and corporate consolidation transactions. The Bill proposes to replace the existing exemptions…

*IGoT’s report into ATO’s administration of Class Rulings released – ATO agrees with 6 of the 8 recommendations

Tax Month - March 2012

The Assistant Treasurer on Wed 14.3.2012, released the Inspector-General of Taxation’s report entitled Review into the Australian Taxation Office’s administration of Class Rulings. Mr Bradbury said the report will “enhance the operation of the class rulings systems, which will further improve the tax administration for the benefit of all taxpayers”. Overall, the Inspector-General examined information,…