Ham v Tax Practitioners Board – The Court agreed with the AAT and TPB that it was correct not to re-register the former tax agent – not a ‘fit and proper person’ because of ‘actual dishonesty’ to a long standing client and friend, without remorse

Tax Month - November 2018

The Federal Court has dismissed an applicant’s appeal against a decision to deny his tax agent registration renewal application on the basis that he was not a fit and proper person. The Applicant/Appellant/Former Tax Agent had been involved in legal action, in which equitable fraud was found to have occurred. The facts are recited at…

Mavris v CofT – AAT’s decision, partly infavour of the Taxpayer (on LCT) was not invalidated by his death after the hearing and submissions – no statutory basis and pointless

Tax Month - November 2018

The AAT has decided that it had the jurisdiction to make a decision even though the applicant died before the publication of the decision. The taxpayer had been partially successful in avoiding ‘Luxury Car Tax’ (LCT) in the earlier decision of Mavris v CofT [2018] AATA 1825, and the Commissioner wanted to treat the decision…

Labor’s negative gearing restrictions – TTI digs into detail and reveals it applies to all investment types, but on an aggregate basis – total investment deductions capped at total investment income

Tax Month - November 2018

On 8 Nov 18, The Tax Institute (TTI) issued a media release, providing detail about the Labor Party’s negative gearing restriction on investments. The bad news is that the proposed limitation on negative gearing deductions will apply to all investment types (not just real estate with a new constructions exemption). The good news is that this…