Author Archives: John Morgan

Re Gillespie and ASIC – After ASIC permanently banned a financial adviser, he appealed and obtained a stay from it publishing its reasons which the AAT declined to extend [109]

The AAT has refused to extend the stay of an ASIC decision to permanently ban a financial services adviser from providing financial services. The AAT said the adviser is employed by an accounting firm, and on 30 October 2012, ASIC made a banning order permanently prohibiting the adviser from providing financial services. That decision was…

Vic: stamp duty concessions threshold for “young farmers” to be doubled [108]

The Victorian Government on Wed 21.11.2012, announced that it will double the threshold of stamp duty concessions for “young farmers” to $600,000, with a phase-out at $750,000, following a review of the concessions. Victorian Treasurer Kim Wells said the changes, to be legislated next year, would bring the scheme into line with stamp duty concessions…

SA stamp duty: calculation of life estates – Revenue Ruling released [107]

RevenueSA has released Revenue Ruling SDA005 (Calculation of life estates) which outlines the life tenant factors to be used in situations where a life estate or remainder estate is to be determined for stamp duty purposes. The Ruling replaces Circular 224 and is effective from 20 November 2012.

[LTN 226, 21/11]

Qld Payroll Tax: Public Ruling on the 90 day Contractors Exemption [106]

The Qld Office of State Revenue (OSR) has issued Public Ruling PTA035.1 (Contractors – 90-day exemption). The OSR says the harmonised payroll tax ruling explains the payroll tax exemption for payments made under a relevant contract where the person provides services to the principal for no more than 90 days. It also sets out the…

PG Dukes Pty Ltd ATF Patricia Dukes Foundation v Chief Comr of State Revenue – NSW land tax: foundation a “charitable institution” and entitled to exemption [105]

In a decision handed down Thur 15.11.2012, the NSW Administrative Decisions Tribunal has found a taxpayer (a corporate trustee) was entitled to a land tax exemption under s 10(1)(d) of the Land Tax Management Act 1956 (NSW) in respect of various properties for the 2012 land tax year. Broadly, following the death of the late…

Comr of State Revenue v Burdinat & Anor – WA land tax: PPR exemption allowed despite short-term lease for 3 months [104]

The WA Commissioner of State Revenue has been unsuccessful before the WA Supreme Court in appealing against an earlier decision which had allowed a retired couple’s claim for the principal place of residence (PPR) exemption despite their home being leased out for a short-term period. In 2011, the retired couple went on an extended holiday…

Aston (Aust) Properties Pty Ltd & Ors v Comr of State Revenue – Vic land tax: trusts or related corporations – leave to appeal granted [102]

The Victorian Supreme Court has granted 11 taxpayers leave to appeal (and thereby treated the application as an appeal) on a limited basis from the orders of the Victorian Civil and Administrative Tribunal. The Tribunal had affirmed the decisions of the Commissioner to disallow the taxpayers’ objections to assessments of land tax and duty. The…

Lim v Comr of State Revenue (Taxation) – Vic – property in children’s names transferred to parents to support land tax exemption but transfer dutiable [101]

The Victorian Civil and Administrative Tribunal has affirmed a stamp duty assessment issued to husband and wife taxpayers (parents) in relation to the family home transferred to them by their children. On 25 September 1995, the children (2 young adults) signed a contract to purchase the property for $505,000. The family all lived in the…

Irwin v Comr of State Revenue – Qld stamp duty concession on home transfer lodged out of time [100]

The Qld Civil and Administrative Tribunal has dismissed a taxpayer’s application for review of the Commissioner’s decision to refuse a home transfer concession as it was lodged out of time. The Commissioner had issued a reassessment of duty against which the taxpayer objected. The taxpayer received notice of Commissioner’s objection decision on 1 February 2012.…

*Chief Comr of State Revenue v Tasty Chicks Pty Ltd – NSW Payroll Tax – High Court refuses leave to Taxpayer to appeal assessment of a group [99]

The High Court on Fri 16.11.2012, refused the taxpayer’s application for special leave to appeal against the NSW Court of Appeal decision in Chief Comr of State Revenue v Tasty Chicks Pty Ltd [2012] NSWCA 181. The NSW Court of Appeal had partly allowed the Commissioner’s appeal against an earlier NSW Supreme Court decision which…