RevenueSA has issued Revenue Ruling FHOG002 (Payment of the Housing Construction Grant). RevenueSA says it is aware of certain circumstances where both the builder of a new home and the purchaser of the new home will be eligible to apply for the Grant in respect of that property. RevenueSA says in circumstances where both parties…
The Qld Office of State Revenue (OSR) has announced that it will be examining payroll tax compliance in the mining sector. The OSR said its compliance program will focus on workers who should be included in an employer’s payroll tax liability, because they are either employees or relevant contractors. It will also investigate employment agents…
In an unanimous decision handed down today [Thur 15.8.2013], the Victorian Court of Appeal has allowed the appeal of 3 taxpayers (property developers) against an earlier decision which had affirmed stamp duty assessments issued under the Duties Act 2000 (Vic). The Court said the contest on the appeals lay in the question of whether certain…
In a decision handed down on Thur 15.8.2013, the SA Supreme Court dismissed a taxpayer’s appeal against a decision of the SA Treasurer disallowing an objection against a duty assessment. The liability was raised under the land rich provisions contained in the Stamp Duties Act 1923 (SA). The matter concerned a transaction in which the…
Two taxpayers have been successful before the NSW Supreme Court in revoking assessments issued under the Duties Act 1997 (NSW). The matter concerned complex transactions relating to the Cross City Tunnel (Sydney). The Court heard details of the transactions which involved $692m being paid for units in a property trust and $3.4m being paid for…
The Land Tax Amendment Bill 2013 (WA) was introduced into the WA Legislative Assembly on 14 August 2013. It proposes to amend the Land Tax Act 2002 (WA) to implement changes to the land tax scale as announced in the 2013-14 WA Budget. The Bill implements an increase in land tax rates of around 12.5% across the…
The Revenue Laws Amendment Bill 2013 (WA) was introduced into the WA Legislative Assembly on 14 August 2013. It proposes to amend the Duties Act 2008 (WA) and the Taxation Administration Act 2003 (WA) to introduce interim assessment and related provisions. These will allow the WA Commissioner of State Revenue to assess and collect duty on large,…
The WA Budget 2013-14 was handed down on Thur 8.8.2013. WA Treasurer Troy Buswell announced a number of revenue measures including the following. He affirmed an election promise to increase the payroll tax exemption threshold to $800,000 (from the current $750,000) from 2014-15, and to $850,000 from 2016-17. Mr Buswell also announced a 12.5% increase…
The Stamp Duties Regulations 2013 (SA) was gazetted on 22 August 2013. It revokes Stamp Duties Regulations 2002 (SA) and allows the continued operation of certain regulations eg computation of duty where instruments are interrelated (reg 11). The Regulations commenced on 22 August 2013. [LTN 163, 23/8/13]
The First Home and Housing Construction Grants (Budget 2013) Amendment Bill 2013 (SA) has passed all stages without amendment and awaits Assent. It makes legislative amendments to extend the Housing Construction Grant (HCG) for a further 6 months as announced in the SA Budget 2013-14. The extension of the HCG means that home-buyers who enter…