SA: Statutes Amendment and Repeal (Budget 2012) (No 2) Bill 2012 was introduced into the SA Legislative Assembly – concession for ‘off-the-plan’ apartments [94]

The Statutes Amendment and Repeal (Budget 2012) (No 2) Bill 2012 was introduced into the SA Legislative Assembly on 1 November 2012. It proposes to amend the Stamp Duties Act 1923 (SA) to introduce a stamp duty concession announced in the 2012-13 SA Budget that will apply for the next 4 years for purchases of…

Tax Practitioners Board v Munro – Court confirms injunctions and penalties imposed for not being a registered tax agent [91]

The Federal Court has granted the Tax Practitioners Board’s application for imposition of pecuniary penalties and related declaratory and injunctive relief in relation to the respondent’s contraventions of s 50-5(1) of the Tax Agent Services Act 2009 by providing income tax return services to 14 clients without being a registered agent. As a result of…

Re Modini and Tax Practitioners Board – AAT affirms the Board’s decision to reject application for registration as a tax agent (in Tas after 5 rejections in Qld) [89]

In a decision handed down on Tue 6.11.2012, the AAT has rejected an applicant’s application for registration as an individual tax agent. The applicant in this case applied for review of a decision of the Tax Practitioners Board to reject her application for registration as an individual tax agent under the Tax Agent Services Act…

Conflicts of Interest, Offshoring/Outsourcing, Agents’ own compliance & Book-keepers registration – dealt with in Chairman’s address [88]

The Tax Practitioners’ Board (TPB) has advised that it has commenced work on developing 2 draft information sheets. Board Chairman Dale Boucher said the first one deals with managing conflicts of interest and the second one deals with how offshoring and outsourcing of tax agent and BAS agent services interacts with an agent’s obligations under…

IGT to review delayed income tax refunds, super excess contributions tax and data matching [85]

The Inspector-General of Taxation (IGT), Mr Ali Noroozi, on Tues 20.11.2012, announced terms of reference for 3 reviews relating to the ATO’s compliance approaches to individual taxpayers. The three areas for review are: The ATO’s income tax refund integrity program – this review will consider the efficiency and transparency of the integrity program and whether…