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…

SA: Succession Duties Repeal; Housing Construction Grants: Bills receive Assent [69]

The following SA Bills on Thur 5.12.2013, received Assent after having passed all stages without amendment: Succession Duties Repeal Bill 2013 – as Act No 85 of 2013. The Bill repeals the Succession Duties Act 1929 (SA). The Bill extinguishes any residual matters that may still arise even though succession duties were abolished as from 1 January 1980. RevenueSA…

TASA change from 30.6.13 that tax and BAS agents may register on a “will be able to maintain” PI insurance that meets the Board’s requirements [68]

The Tax Practitioners Board (TPB) has updated its explanatory paper TPB(EP) 03/2010 to reflect changes concerning professional indemnity (PI) insurance requirements made to the Tax Agent Services Act 2009 (TASA) which took effect on 30 June 2013 as a result of the Tax Laws Amendment (2013 Measures No 3) Act 2013. On 30 June 2013, s 20-5 of the TASA…

Charities Act expands definition of ‘charity’ from 1 Jan 2014 (but that will be delayed until 1 September 2014 by other amendments) [65]

The Charities Act 2013 adds reconciliation, human rights, culture, the environment and more to the list of purposes that are considered charitable. The new Act recognises that many modern organisations advance causes through education, research and awareness-raising and prevention. It also clarifies the law on charities and native title. In addition, it protects charities’ right…

Commencement of the Charities Act to be delayed from 1 Jan to 1 Sept 2014 – and with it the abolition of the ACNC [64]

The Charities Act 2013 defines “charity” and “charitable purpose” for the purposes of all Commonwealth legislation, including taxation legislation. The Government amendments made by the House of Reps on Wed 4.12.2013 to the Social Services and Other Legislation Amendment Bill 2013 introduced new provisions to the Bill that would delay the commencement of the Charities…

Senate committee recommends mining tax repeal Bill be passed; Labor dissents [62]

The Senate Economics Legislation Committee has recommended that the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 be passed by the Senate. The Committee also recommended that: (i)      the Government revisit certain measures in the Bill, in particular incentives in superannuation for low income earners and taxation issues affecting small business, “once…