Institute of Public Accountants opposes proposed Standard on Financial Planning Services for accountants [90]

The Institute of Public Accountants (IPA) says it opposes the draft standard APES 230 Financial Planning Services released by the Accounting Professional and Ethical Standards Board (APESB). The IPA said it supports the FoFA reforms and the work of the APESB, but said the proposed standard “goes beyond the FoFA legislation”. In its current format,…

*Qld Budget 2012-13: land transfer duty rate increases; coal royalties increase; gambling tax increases and First Home Construction Grant [87]

The Qld Budget 2012-13 was handed down on Tues 11.9.2012. Revenue proposals announced included: Transfer duty threshold and rate increases – From passage of the amending legislation, the threshold for the highest marginal rate of transfer duty will increase from $980,000 to $1m. At the same time, the rate applicable to the new higher threshold…

*Chubb Electronic Security Australia Pty Ltd v Comr of State Taxation – SA stamp duty: Withdrawal of ex gratia relief cannot be reviewed on an appeal [84]

The SA Supreme Court has held that the withdrawal of an offer by the SA Treasurer of ex gratia relief cannot be reviewed on an appeal against the Commissioner’s assessment. In 2006, the Chubb Group of Companies underwent an organisational restructure in which a group company transferred parts of its business to the taxpayer and…