Yearly Archives: 2017

NSW payroll tax: Chief Comr of State Revenue v Print National Pty Ltd – taxpayer can object to notices to third parties to obtain facts for group assessment [113]

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…

2012-13 tax return forms, schedules, and accompanying guides released [129]

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…

Qld payroll tax: fees paid to golf professionals by golf clubs – Public Ruling [123]

The Qld Office of State Revenue (OSR) on Mon 20.5.2013, issued Public Ruling PTA013 (Fees paid to golf professionals by golf clubs). The OSR notes the harmonised payroll tax ruling clarifies certain aspects of a golf club’s payroll tax liability on payments made to golf professionals. It has effect from 1 July 2008. The OSR further notes…

NSW stamp duty: Zhuang & Ors v Chief Comr of State Revenue – new 20% purchaser lead to contract being taxed and transfer being taxed again [116]

The NSW Administrative Decisions Tribunal has held the “no double duty” concession under s 18 of the Duties Act 1997 (NSW) did not apply to a transfer of a property to 3 taxpayers. On 17 December 2009, 2 of the taxpayers, a married couple (BZ and JY) entered into a contract to buy a property. They subsequently wanted BZ’s…

ACT land tax: Theron & Comr for ACT Revenue – penalty tax for unpaid land tax affirmed [112]

The ACT Civil and Administrative Tribunal has affirmed the decision of the Commissioner of ACT Revenue to impose on a taxpayer 50% penalty tax and interest on unpaid land tax for the relevant period. The taxpayer owned the subject rental property but submitted that she was not aware of her land tax liability. Among other…

Code of ethics for accountants: revisions made [128]

The Accounting Professional & Ethical Standards Board (APESB) has issued an amending standard in respect of the existing APES 110 Code of Ethics for Professional Accountants (the Code). The amendments to the Code are: a new AUST paragraph to address circumstances where auditors may be receiving multiple referrals from a single source. The Board said the revision…

NSW payroll tax: fees paid to golf professionals by golf clubs – Revenue Ruling revised to harmonized position on grouping Pro-shop business with Club [122]

The NSW Office of State Revenue (OSR) has issued Revenue Ruling No PTA013v2 (Fees paid to golf professionals by golf clubs). The OSR says the Ruling has been updated jointly by all jurisdictions to clarify the wording in the first paragraph under the heading “Grouping of the business of the golf professional and the golf…

NSW land tax: Sayden Pty Ltd v Chief Comr of State Revenue – criteria for fixed trust satisfied, so taxpayer wins appeal [115]

The NSW Court of Appeal has restored a decision at first instance, which had concluded that the taxpayer as trustee of a property trust, was liable for land tax with respect to the 2011 land tax year, as a fixed trust, and therefore was entitled to the benefit of the tax threshold. The matter concerned…

ACT land tax: James & Comr for ACT Revenue (Administrative Review) – rental property – penalty for failure to notify Commissioner revised [111]

The ACT Civil and Administrative Tribunal has revised the penalty tax payable by 2 taxpayers in relation to a land tax default concerning a rental property for the period 1 July 2002 to 30 June 2012. In 2001, the taxpayers (a couple) purchased the property and leased it to the Defence Housing Authority. The lease was registered with the…

Official interest rate lowered from 3.0% to 2.75% [127]

At its meeting on Tue 7.5.2013, the Reserve Bank Board decided to lower the official cash rate by 25 basis points from 3% to 2.75%. Reserve Bank Governor Glenn Stevens said the Board judged that a further decline in cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the inflation…