Pensions to increase from 20 March [109]

The Government has advised that more than 3.6m pensioners will receive an increase to their payments from 20 March 2014. Minister for Social Services, Kevin Andrews, said single age pensioners will receive an increase of id=”mce_marker”5.70 a fortnight, while age pensioner couples will receive $23.80 extra a fortnight. “This means total pension payments for people on the…

OECD paper on transfer pricing comparability data for developing countries – released for comment [104]

The OECD was requested by the G8 at its Lough Erne summit “to find ways to address the concerns expressed by developing countries on the quality and availability of the information on comparable transactions that is needed to administer transfer pricing effectively”. The OECD has now released a paper which sets out and briefly discusses…

NSW land tax: Neal v Chief Comr of State Revenue – PPR exemption wrongly claimed – 75% penalty tax for “intentional disregard” affirmed [101]

The NSW Civil and Administrative Tribunal has affirmed the Commissioner’s decision to impose on a taxpayer a 75% penalty tax for “intentional disregard” in relation to the taxpayer’s tax default as a result of incorrectly claiming the principal place of residence (PPR) land tax exemption in respect of a property for the 2000 to 2006…

NSW payroll tax: rebate to encourage hire of retrenched employees [100]

The NSW Government on Tue 4.3.2014, announced that it will provide a $6,000 payroll tax rebate to businesses that employ workers who have recently lost their jobs through large-scale restructures. NSW Treasurer Mike Baird said the $6,000 Fresh Start Support payroll tax rebate includes the existing $5,000 rebate already available under the NSW Government’s Jobs Action…