Yearly Archives: 2017

WA: Taxation Legislation Amendment Bill 2014 introduced to narrow the definition of ‘fourth limb’ charities – so ‘Chamber of Commerce’ can’t qualify [89]

The Taxation Legislation Amendment Bill 2014 (WA) was introduced into the WA Legislative Assembly on Thur 26.6.2014. It proposes to amend the Duties Act 2008 (WA), Land Tax Assessment Act 2002 (WA), Pay-roll Tax Assessment Act 2002 (WA), and Taxation Administration Act 2003 (WA), to improve the efficacy of existing WA tax exemptions for charitable…

WA: Revenue Laws Amendment Bill update [88]

The Revenue Laws Amendment Bill 2014 (WA) has passed the WA Legislative Assembly without amendment and moves to the Legislative Council. It proposes to amend 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 to the…

Vic: Budget and Other Measures Bill receives Royal Assent [87]

The Building a Better Victoria (State Tax and Other Legislation Amendment) Bill 2014 (Vic) on Tue 17.6.2014, received Royal Assent as Act No 40 of 2014. It had passed all stages with Government amendments. The Bill amends the following Victorian Acts: the Duties Act 2000, the First Home Owner Grant Act 2000, the Land Tax…

Tas: Payroll Tax Rebate; First Home Owner Grant: Amendment Bills update [86]

The following Tasmanian Bills have passed the Tasmanian House of Assembly and have moved to the Legislative Council: Employment Incentive Scheme (Payroll Tax Rebate) Amendment Bill 2014 – passed without amendment, the Bill proposes to amend the Employment Incentive Scheme (Payroll Tax Rebate) Act 2009 (Tas) to implement a fourth tranche of the payroll tax…

Qld Budget 2014-15: family farm succession planning; home land tax exemption; etc [85]

The Qld Budget 2014-15 was handed down on Tue 3.6.2014. Key Budget announcements include: Family primary production business transfer duty concession – from 1 July 2014, the Family Primary Production Concession will be extended. Currently, the concession is limited to lineal descendants, most often this is parent to child. The requirement of a direct lineal descendant will…

NSW Budget 2014-15: abolition of business taxes; WorkCover; first homebuyers [84]

The NSW Budget 2014-15 was handed down on Tue 17.6.2014. NSW Treasurer, Andrew Constance, announced the following revenue measures: Stamp duty – business taxes to be abolished – from 1 July 2016, the NSW Government will abolish stamp duty on business mortgages, unlisted marketable securities and transfer duty on non-real business transfers. Enhanced revenue compliance activity –…

ACT: payroll tax and land tax changes: Amendment Bills introduced [83]

The following ACT Bills were introduced into the ACT Legislative Assembly on 5 June 2014: Payroll Tax Amendment Bill 2014 – proposes to amend the Payroll Tax Act 2011 (ACT) to remove the exemption provided to employment agents on wages paid to subcontractors simply due to being a “genuine employer”. By removing the exemption found at Sch 2,…

Ayles v Tax Practitioners Board – Court confirms refusal to register – humanities degree not relevant [82]

The Federal Court has dismissed an applicant’s appeal from the decision in AAT Case [2014] AATA 112, Re Ayles and Tax Practitioners Board in which the AAT refused his application for registration as a tax agent on the basis that the applicant did not satisfy the necessary tertiary qualification experience which, according to the AAT,…

Registration requirements for tax (financial) advisers – draft regs released [81]

The Government has released the Draft Tax Agent Services Amendment (Tax (Financial) Advisers) Regulation 2014 to amend the Tax Agent Services Regulations 2009 which prescribe a tailored set of ongoing registration requirements for tax (financial) advisers, as well as a number of other related amendments. At the same time, the Government has taken this opportunity…

‘Tax (financial) advisers’ may register with the TPB (by notifying) between 1 July 2014 to 31 December 2015 or provide a disclaimer [80]

The Tax Practitioners Board (TPB) has reminded financial advisers who provide tax advice that they can notify the Board to be registered as tax (financial) advisers from next month. The TPB said the notification period begins on 1 July 2014 and ends on 31 December 2015. During this notification period, Australian financial services (AFS) licensees and their authorised representatives…