The AAT has confirmed a Tax Practitioners Board’s decision to terminate a tax agent’s registration because he was not a fit and proper person. In March 2016 the Board terminated the applicant’s registration as a tax agent as it did not consider he was a “fit and proper person”, as required by s 20-5 of the Tax Agents…
On 16 August 2018, ASIC announced that it had disqualified Jason Andrew Hammond of Cameron Park, NSW, from managing companies, for the maximum period of five years, as a result of his involvement in three failed companies – in essence for being involved in ‘illegal phoenix activity‘. The ‘three failed companies‘ were: LLM Rivits Pty Ltd (ACN…
The AAT has confirmed that the taxpayer was assessable on the discount on rights to shares acquired under the ‘NewSat’ Employee Share Scheme (ESS) after it dismissed the taxpayer’s argument that she was coerced into accepting the ESS offer. NewSat was an Australian specialist satellite communications company that delivered internet, voice, data and video to…
The Treasury Laws Amendment (Tax Integrity and Other Measures No 2) Bill 2018 was: introduced in the House of Reps on Thursday, 24.5.2018 and was passed in that House on 25.6.2018. introduced into the Senate on 27.6.2018 and finally passed both Houses on 16.8.2018. Received Royal Assent as Act No. 84 of 2018 on 24.8.2018…