The Federal Court has upheld the decision of the AAT in AAT Case [2013] AATA 188, Re Frugtniet and Tax Practitioners Board to refuse the tax agent’s request for a stay of the decision of the Tax Practitioners Board to terminate his registration for a period of 5 years. In that case, the Tax Practitioners…
This Ruling, released on Wed 31.7.2013, sets out the Commissioner’s final views on when a “superannuation income stream” (reg 995-1.01 of the ITA Regs) commences and when it ceases, and consequently when a superannuation income stream is payable. The Ruling was previously released as Draft Ruling TR 2011/D3 and has been subtly revised in several…
The Tax Practitioners Board (TPB) says registered tax and BAS agents who fail to meet their personal tax obligations are breaching the Code of Professional Conduct (Code item 2) contained in the Tax Agent Services Act 2009 (TASA). The TPB says in the last 12 months, it has completed around 100 investigations of registered tax…
The Tax Practitioners Board (TPB) has released FAQs on various issues concerning tax and BAS agents. FAQs concern registration applications, renewing registrations, processing timeframes for applications, professional indemnity insurance requirements, qualification requirements, application fees, online services, updating contact details with the TPB, lodging complaints, and whether the TPB can recommend tax or BAS agents. The…
The ATO on Mon 29.7.2013, released a Decision Impact Statement on the decision of the Full Federal Court in Cyonara Snowfox Pty Ltd v FCT [2012] FCAFC 177. In that case, the Full Court dismissed a taxpayer’s appeal against an earlier AAT decision, which had affirmed a GST assessment for particular periods in connection with…
The ATO on Mon 1.7.2013, released an Interim Decision Impact Statement on the Federal Court’s decision in ATS Pacific Pty Ltd v FCT [2013] FCA 341. In that case, the Federal Court held that supplies provided by a taxpayer, an Australian travel agent, to non-resident travel agents was subject to GST as it did not…
The Government has announced the reappointment of Mr Ali Noroozi as the full-time Inspector-General of Taxation for a further 5-year period beginning on 6 November 2013. Mr Noroozi has been the Inspector-General of Taxation since September 2008. [LTN 133, 12/7/13]
In a decision handed down on Tue 16.7.2013, the AAT affirmed the Commissioner’s decision to impose on a taxpayer an administrative penalty at the rate of 50% for “recklessness”. The taxpayer was an importer of construction goods. On 16 July 2012, it lodged a BAS claiming input tax credits (ITC) for the GST payable in relation to…
The ATO on Mon 8.7.2013, released a Decision Impact Statement on the AAT’s decision in AAT Case [2013] AATA 347, Re Young & Anor and FCT. In that case, the AAT held that Commonwealth superannuation contributions surcharge legislation did not validly apply the taxpayers in this case – Deputy State Solicitors of Western Australia. Broadly,…
The Tax Laws Amendment (2013 Measures No 3) Act 2013 has amended the Tax Agent Services Act 2009 (TASA) so that, from 1 July 2014, financial advisers who provide tax (financial) advice can register with the Tax Practitioners Board (TPB). Ian Taylor, Chair of the TPB, said the Board has been consulting with industry and stakeholders on…