SA stamp duty: proposed amendment to clarify “date of the sale” – Revenue Ruling [76]

RevenueSA has issued Revenue Ruling SDA008 (Retrospective amendments to s 60A(1) of the Stamp Duties Act 1923 (SA)). RevenueSA has advised that the SA Government will introduce retrospective amendments to s 60A(1) to confirm and reflect RevenueSA’s “long-standing interpretation of this section”. That is, that the “date of the sale” is the date the property in question…

SA stamp duty: primary production land – ‘ex-gratia’ regime announced for trusts involving more than one beneficiary to allow existing policy to continue [75]

RevenueSA has issued Revenue Ruling SDA007 (Section 71CC ex gratia scheme for transferor/transferee trusts). Section 71CC of the Stamp Duties Act 1923 (SA) provides an exemption from stamp duty on the transfer of primary production land and associated farming goods between certain relatives (family members) and/or their trustees. RevenueSA said it has received advice that…

Vic land tax: Comr of State Revenue v Oakbee Pty Ltd & Ors – Commissioner wins appeal and vendor of land liable for land tax – purchaser took possession before 31.12.08 but hadn’t paid 15% deposit [74]

The Victorian Supreme Court has granted the Commissioner of State Revenue (Vic) leave to appeal an earlier decision which had set aside his determination that a vendor of land (the first taxpayer) was liable for land tax in respect of the 2009 land tax year. In allowing the appeal, the Court overturned the earlier decision…

Qld stamp duty: Market Square (Queensland) Pty Ltd v Comr of State Revenue – shortfall in payment of disputed tax and thus no jurisdiction to review assessment [72]

The Qld Commissioner of State Revenue has been successful before the Qld Civil and Administrative Tribunal in arguing that a taxpayer’s application to review a stamp duty assessment should be dismissed as there was a lack of jurisdiction to hear the application. The taxpayer forwarded payment to the Commissioner on 2 November 2012 comprising the amount payable…

Vic payroll tax: Bank of Queensland Ltd v Comr of State Revenue (Review and Regulation) – bank and franchised branches – grouping decision set aside [73]

The Victorian Civil and Administrative Tribunal has set aside the Commissioner’s decision to group a bank (Bank of Queensland) with its franchised branches for payroll tax purposes. The Tribunal heard the Bank of Queensland conducted its banking business through 2 species of branch, this included the “corporate” branch and, as at 2008, around 24 “owner…

NSW land tax: Maraya Holdings Pty Ltd & Ors v Chief Comr of State Revenue – primary production exemption – taxpayers lose appeal [70]

The NSW Court of Appeal has dismissed the appeal of 5 taxpayers against an earlier decision which had refused their claim for the primary production land tax exemption for the relevant years under s 10AA of the Land Tax Management Act 1956 (NSW). The subject lands were used for cattle grazing by the first taxpayer, the…