*WestNet Rail Holdings No 1 Pty Ltd & Anor v Comr of State Revenue – WA stamp duty: railway infrastructure rights not “land”, so rail freight company not a landholder and assessment of share transfer set aside [St7]

The WA State Administrative Tribunal has held a transfer of shares in a company which operated rail freight services in WA should not attract stamp duty as it found the company was not a “land-holder” for the purposes of s 76AP(2) of the Stamp Act 1921 (WA). In doing so, it found certain rights of…

Perry Properties Pty Ltd v Chief Comr of State Revenue (RD) – NSW land tax: boarding house exemption – taxpayer loses appeal [St6]

The Appeal Panel of the NSW Administrative Decisions Tribunal has dismissed a taxpayer’s appeal against an earlier decision which had ruled that the taxpayer was not entitled to a land tax exemption for “land used and occupied as a boarding house” under s 10Q of the Land Tax Management Act 1956 (NSW) for the 2007…

Comr of State Revenue v Challenger Listed Investments Ltd – Commissioner appealing to High Court – decision that acquisition of land-rich shares by trust is not dutiable (not beneficial owner) [St5]

The Commissioner of State Revenue (Vic) has lodged an application seeking special leave to appeal to the High Court against the decision of the Victorian Court of Appeal in Comr of State Revenue v Challenger Listed Investments Ltd [2011] VSCA 272. The Court of Appeal had dismissed the Commissioner’s appeal against the decision at first…

*Regis Investments Pty Ltd v Comr of State Revenue – Vic land rich provisions didn’t acquire to acquisition of shares by trustee (as per Landrow and Challenger decisions) [St4]

The Victorian Supreme Court has set aside a stamp duty assessment issued to a taxpayer under the land rich provisions of the Duties Act 2000 (Vic). The taxpayer was the trustee of an investment trust (“the Regis Trust”) and in that capacity acquired shares in a land rich company (RPA). The taxpayer commenced purchasing shares…

*NSW: State Revenue Legislation Amendment Bill now law [St2]

The State Revenue Legislation Amendment Bill 2012 (NSW) has passed all stages without amendment and awaits Assent. It contains a number of amendments to the Duties Act 1997 (NSW). Some of the main amendments include: establishing a new exemption for corporate reconstruction and corporate consolidation transactions. The amendments replace the existing exemptions for “top hatting”…

ACT Duties Act amendments for ‘land rent leases’ and transfers of short-term commercial subleases; Rates and Land Tax on common areas in community titles [St1]

The following Bills were introduced into the ACT Legislative Assembly on 29 March 2012: Duties Amendment Bill 2012 (ACT) – amends the Duties Act 1999 (ACT) to clarify the treatment of “land rent leases”. Date of effect: The amendments are proposed to commence from the day after the Bill’s notification. Duties Amendment Bill 2012 (No…

ATO compliance activities re SMEs: Tax Inspector-General’s report released

The Assistant Treasurer Tue 24.4.2012 released the Inspector-General of Taxation’s Review into the ATO’s compliance approaches to SMEs with annual turnovers between $100m and $250m, and high wealth individuals. The Inspector-General conducted this review in response to concerns raised by taxpayers, tax practitioners and their representative bodies following the ATO’s increased compliance focus on SMEs…