The NSW Supreme Court has affirmed a payroll tax assessment (including interest and penalty tax) issued to a taxpayer for the relevant periods. It also affirmed the Commissioner’s decision not to exclude the taxpayer from its group with another company for payroll tax purposes. The taxpayer disputed the Commissioner’s decision to assess it as liable…
The Treasury Legislation Amendment Bill 2014 (NT) received Assent on 26 June 2014 as Act No 24 of 2014. It had passed all stages without amendment and implements the NT Budget 2014-15 proposal to target the First Home Owner Grant (FHOG) to new homes. [LTN 124, 1/7/14]
The Revenue Laws Amendment Bill 2014 (WA) received Royal Assent on 2 July 2014 as Act No 15 of 2014. It had passed all stages without amendment and amends the Duties Act 2008 (WA) and the Land Tax Act 2002 (WA) to implement 2 of the revenue measures announced in the 2014-15 WA Budget, which make changes…
A taxpayer has been unsuccessful before the NSW Civil and Administrative Tribunal in seeking remission of interest imposed by the Commissioner in a land tax assessment notice issued in respect of the 2009 to 2013 land tax years. The Commissioner’s case was that the taxpayer had committed tax defaults by failing to furnish land tax…
In a decision handed down Thur 10.7.2014, the Federal Court has imposed a $70,000 pecuniary penalty on a tax agent in respect of contraventions of s 50-20 of the Tax Agent Services Act 2009 (TASA). The Tax Practitioners Board had sought declarations and the imposition of the penalty. In his defence filed on 27 February 2014, the agent…
The AAT has affirmed a decision of the Tax Practitioners Board refusing to renew an applicant’s tax agent registration. On 8 October 2010, the Board had approved the applicant’s tax agent registration. It also notified him of possible further education requirements as part of his tax agent registration renewal. On 28 February 2013, the applicant applied for renewal of…
The following legislative instruments were notified on 30 June 2014: Taxation Administration (Amounts and Rates – Payroll Tax) Determination 2014 (No 1) – This instrument determines the threshold for the payment of ACT payroll tax under the Payroll Tax Act 2011 (ACT) commencing on 1 July 2014. It increases the annual Australia-wide wages threshold from id=”mce_marker”,750,000 toid=”mce_marker”,850,000 and the…
ASIC Commissioner Greg Tanzer has advised that ASIC and the Tax Practitioners Board (TPB) have been working together “to ensure the smooth transition of the new regulatory regime” for financial advisers providing tax advice. From 1 July 2014, the TPB regulates financial advisers who provide tax (financial) advice services under the Tax Agent Services Act 2009 (TASA).…
The Tax Practitioners Board (TPB) has released an exposure draft of an information sheet, TPB(I) D22/2014 (Payroll service providers), designed to assist payroll service providers better understand the tax agent services regime. The draft outlines the: circumstances where a payroll service provider may need to register as a tax agent or BAS agent; circumstances where they do…
The AAT has found that a tax agent was a fit and proper person to continue to be registered as an agent, despite the Tax Practitioners Board finding otherwise. The applicant had been a registered tax agent since 1984, first under the now repealed provisions in the ITAA 1936 and then under the Tax Agent…