John Morgan is a tax specialist lawyer of more than three decades experience now practicing at the Victorian Bar - w: www.FJMtax.com e: f.john.morgan@vicbar.com.au

ACT land tax: James & Comr for ACT Revenue (Administrative Review) – rental property – penalty for failure to notify Commissioner revised [111]

The ACT Civil and Administrative Tribunal has revised the penalty tax payable by 2 taxpayers in relation to a land tax default concerning a rental property for the period 1 July 2002 to 30 June 2012. In 2001, the taxpayers (a couple) purchased the property and leased it to the Defence Housing Authority. The lease was registered with the…

WA stamp duty: Motor Yacht Marine Holdings Pty Ltd v Comr of State Revenue – Commissioner’s assessment of 2.5% late lodgment penalty affirmed [121]

The WA State Administrative Tribunal has found that the Commissioner of State Revenue (WA) was correct to remit penalty tax to 2.5% of the primary tax liability imposed on a taxpayer for lodging an instrument 1 month and 2 days late. In 2010, the taxpayer entered into a contract to purchase a lease of Crown…

NSW land tax: Reolon v Chief Comr of State Revenue – primary production exemption refused as dominant purpose leasing rental property [114]

In a decision handed down on Mon 6.5.2013, the NSW Administrative Decisions Tribunal affirmed a decision of the Chief Commissioner of State Revenue (NSW) refusing a taxpayer’s claim for the primary production land tax exemption for a rural property for the 2009 and 2011 land tax years. The taxpayer purchased the property in August 2008 and claimed…

ACT land tax: Peden & Comr for ACT Revenue (Administrative Review) – extension of time to apply for review refused [110]

The ACT Civil and Administrative Tribunal has refused a taxpayer’s application seeking an extension of time to apply for review of the decision of Commissioner for ACT Revenue affirming the imposition of 50% penalty tax on unpaid land tax. In October 2003, the taxpayer (a real estate agent) purchased an investment property and informed the ACT Revenue…

OECD releases Draft Handbook on Transfer Pricing Risk Assessment [126]

The OECD’s Global Forum on Transfer Pricing has released a Draft Handbook on Transfer Pricing Risk Assessment. The OECD says the Draft Handbook is a detailed, practical resource that countries can follow in developing their own risk assessment approaches. The handbook supplements useful materials already available with respect to transfer pricing risk assessment. Individual country…

WA landholder provisions – Comr of State Revenue v Westnet Rail Holdings No 1 Pty Ltd & Anor – Commissioner loses appeal because ‘railway infrastructure rights’ not “land” [120]

The WA Court of Appeal has held that stamp duty was not payable on a transfer of shares between 2 companies involved in the privatisation of the WA rail freight system. The Court dismissed an appeal by the WA Commissioner of State Revenue against an earlier decision, which had held that the WA landholder provisions…

*ACT stamp duty: ‘Off the Plan’ case will be appealed and during the appeal the policy continues of treating them as ‘interdependent’ assessed on land and building values [109]

The ACT Revenue Office has advised that the Commissioner of ACT Revenue will appeal against the ACT Supreme Court’s decision in Comr for ACT Revenue v Araghi and Dorsett [2013] ACTSC 43. The matter concerned the Commissioner’s assessment of stamp duty on so-called “interdependent land and building contracts” based on the land sale contract (Crown…

Re Trevaskis and Tax Practitioners Board – Termination of tax agent’s registration for fraud affirmed [100]

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…