Daily Archives: August 16, 2018

NSW Land Tax – Carberry v Chief Comr of State Revenue – land owner not entitled to exemption for land intended to be his principal place of residence – buildings occupied by tenants paying rent

The NSW Civil and Administrative Tribunal has found that a land owner was not exempt from land tax, as his principal place of residence’ under Schedule 1A of the Land Tax Management Act 1956 (NSW – more particularly, under s6, which gives exemption for ‘unoccupied land intended to be the owner’s principal place of residence’.…

FCT v Chen – Asset freezing order granted over Australian and international debts to protect expected judgement for $7.5m tax debts

The Federal Court has granted the Commissioner a freezing order of the assets of a taxpayer concerning a $7.5 million tax debt. The Commissioner had sought freezing orders against the taxpayer under Division 7.4 of the Federal Court Rules 2011 (Cth).  After hearing counsel for the Commission, Colvin J made orders substantially in the terms sought.…

ATO’s ’10 top MYTHS’ about deductions that taxpayers can claim – $150 for clothing and laundry, $300 for work related expenses, 5,000 km of car travel, etc.

On 30 July 2018, the ATO uploaded their 10 top ‘myths’ about tax deductions. Top 10 tax myths Myth 1: Everyone can automatically claim $150 for clothing and laundry, 5000 kilometres for car related expenses, or $300 for work-related expenses, even if they didn’t spend the money Fact:   The record-keeping exemptions provide relief from the need…