A former tax agent has been unsuccessful in seeking a review of the Tax Practitioners Board’s decision to terminate his registration for 2 years. The tax agent had pleaded guilty and was convicted under s 134.2(1) of the Criminal Code Act 1995 for obtaining “a financial advantage by deception” from obtaining refunds of GST input tax…
The Charities Bill 2013and the Charities (Consequential Amendments and Transitional Provisions) Bill 2013 were introduced in the House of Reps on Wed 29.5.2013. The main Bill proposes to introduce a statutory definition of charity that would apply to all Commonwealth legislation. The definition of charity and charitable purposes has been generally based on existing common…
The Revenue Legislation (Tax Reform) Amendment Bill 2013 (ACT) has passed all stages of the ACT Legislative Assembly without amendment and awaits notification. The Bill amends the Land Tax Act 2004 (ACT) and the Rates Act 2004 (ACT) to implement parts of the first tranche of the Territory’s 20-year tax reform plan announced in the…
The State Tax Laws Amendment (Budget and Other Measures) Bill 2013 (Vic) was introduced into the Victorian Legislative Assembly on 7 May 2013. It contains amendments to the Congestion Levy Act 2005 (Vic) to expand the levy to short-stay car spaces and to increase the levy rate as announced in the Victorian Budget 2013-14. It also contains…
ASIC on Mon 20.5.2013, issued Consultation Paper 207 Charitable investment fundraisers (CP 207) which proposes reforms for charities that raise investment funds. The proposals do not affect fundraising by charities in the form of donations. ASIC said it has been increasing its focus on organisations which behave like banks and conduct bank-like activities, but which…
The Tax Practitioners Board (TPB) has advised tax and BAS agents to notify it as soon as possible if they are changing their practice structure. The Board says a change in practice structure could include changing from an individual to a partnership or a company, changes to a partnership, or changes to company directors. It…
The Duties Legislation Amendment Bill 2013 (WA) was introduced into the WA Legislative Assembly. It proposes amendments to the Duties Act 2008 (WA) and the Duties Legislation Amendment Act 2008 (WA) to unwind the scheduled abolition of transfer duty on non-real business assets such as business licences, goodwill and intellectual property. The WA Government said…
The Revenue Legislation Amendment Bill 2013 (NT) was introduced into the NT Legislative Assembly on 15 May 2013. The Bill proposes to implement the NT Budget 2013-14 proposals to protect the Territory’s mineral royalty regime contained in the Mineral Royal Act (NT). It also proposes other minor amendments to the Payroll Tax Act (NT).
[LTN 95, 20/5/13]
Passes Lower House and moves to Senate The Not-for-profit Sector Freedom to Advocate Bill 2013 was passed by the Senate on Thur 16.5.2013, without amendment and now moves to the House of Reps. The Bill was originally introduced into the Senate on 13 March 2013 and proposes provisions that would prohibit and invalidate clauses in Commonwealth agreements…
The Australian National Audit Office (ANAO) on Thur 9.5.2013, released its Performance Audit Report No 34 2012-13 on the extent to which Treasury and the ATO have improved the management of tax expenditure estimates by implementing the 6 recommendations made in an earlier ANAO audit (Performance Audit Report No 32 2007-08) into the completeness and…