Karci v Comr of State Revenue (Taxation) – Vic stamp duty: false “off-the-plan” concession claim, penalty affirmed [102]

The Victorian Civil and Administrative Tribunal has affirmed a 75% penalty imposed on a taxpayer in relation to a purchase of an investment property in respect of which the “off-the-plan” concession had been falsely claimed. The Tribunal heard the taxpayer had met an individual who had offered to sell her an apartment for $340,000 that…

Chief Comr of State Revenue v Ghali (RD) – Commissioner wins appeal on NSW land tax: principal place of residence exemption [101]

The Appeal Panel of the NSW Administrative Decisions Tribunal has allowed the Commissioner’s appeal against an earlier decision, which had held that a property was “used and occupied” by a taxpayer as his principal place of residence for the 2004 to 2007 land tax years. The matter concerned a taxpayer who spent 6 weeks of…

*Victorian Bills to implement the ‘landholder’ regime and Budget measures such as duty on Crown Grants [99]

The following Bills have passed the Victorian Legislative Assembly without amendment and have moved to the Legislative Council: Duties Amendment (Landholder) Bill 2012 – proposes to amend the Duties Act 2000 (Vic) to give effect to the 2011-12 Victorian Budget proposal to adopt a landholder duty model from 1 July 2012. State Taxation Acts Amendment…

ACT: landholder; short-term commercial subleases, etc – Bills await notification [95]

The following Bills have passed all stages of the ACT Legislative Assembly and await notification: – passed with an amendment, the Bill Duties (Landholders) Amendment Bill 2012amends the Duties Act 1999 (ACT) to “more closely” align the Territory’s landholder provisions with NSW. Date of effect: The amendments will commence on 1 July 2012. Duties Amendment…

*Tax Practitioners Board issues draft information sheet on holding moneys on trust for clients under item 3 of the code [94]

The Tax Practitioners Board (TPB) has issued for comment Draft Information Sheet TPB(I) D13/2012 (Code of Professional Conduct – Holding money or other property on trust). The Board discusses the obligation under item 3 of the Code of Conduct contained in the Tax Agent Services Act 2009 (TASA) on registered tax agents and BAS agents…