The Australian National Audit Office (ANAO) on Thur 12.6.2014, released Audit Report No 39 Compliance Effectiveness Methodology. The review examined the application of the ATO’s Compliance Effectiveness Methodology (CEM) in evaluating the effectiveness of key compliance activities and in shaping the development of strategies to promote voluntary compliance. The review found the ATO applied generally…
The Senate Economics Legislation Committee on Mon 16.6.2014, tabled its report on the Australian Charities and Not-for-profits Commission (Repeal) (No 1) Bill 2014. The Bill, which is still before the House of Reps, proposes to repeal the Australian Charities and Not-for-profits Commission Act 2012, thereby abolishing the Australian Charities and Not-for-profits Commission (the ACNC). The…
The Australian Charities and Not-for-profits Commission (ACNC) has reminded charities of the 30 June 2014 deadline for lodging their 2013 Annual Information Statement. The ACNC warned it is a legal requirement that all registered charities submit an annual statement. Details of how to lodge the 2013 Annual Information Statement can found at acnc.gov.au/2013AIS or contact the ACNC…
The Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 [No 2], also re-introduced on Mon 23.6.2014, proposes to repeal the mining tax and make consequential amendments to other legislation, including the ITAA 1997 and the Taxation Administration Act 1953, required as a result of the repeal of the MRRT. These include repeal of:…
The ATO on Thur 5.6.2014, issued a Decision Impact Statement on the decision in AAT Case [2014] AATA 205, Re Dominic B Fishing Pty Ltd and FCT. In that case, the AAT held that fishing crew members on a commercial fishing vessel operated by the taxpayer, were not “employees”, at common law, or under the…
The Government re-introduced a series of Bills in the House of Reps on Mon 23.6.2014, to repeal the carbon tax and the mining tax and related measures. The Bills had previously been defeated in the Senate. The carbon tax repeal Bills are: Clean Energy Legislation (Carbon Tax Repeal) Bill 2013 [No 2]. Clean Energy (Income…
The AAT has rejected a taxpayer’s appeal and upheld the Commissioner’s disallowance of its input tax credit (ITC) claims. The taxpayer’s main business activity was computer system design, although it also marketed licensed computer software. It accounted for GST on a cash basis. The Commissioner audited the taxpayer and reduced its ITC claims from $404,491…
A taxpayer has been successful before the AAT in seeking orders to allow its claim for GST input tax credits, totalling $2.8m, and to set aside a private ruling issued by the Commissioner, which had refused its claim [to those credits]. The taxpayer claimed it was entitled to ITCs of $2.2m (relating to December 2005) and $600,000…
Two taxpayers have been unsuccessful before the AAT in a matter concerning input tax credits (ITCs) claims in respect of purported acquisitions made in 2 property developments. The first taxpayer (a company) and the second taxpayer (a partnership of 2 individuals) claimed to have made acquisitions in relation to property development. The first taxpayer also…
The Tax Laws Amendment (2014 Measures No 1) Bill 2014 on 30 May 2014 received Royal Assent as Act No 34 of 2014. It had passed all stages without amendment. The Bill amends the GST Act and the TAA to ensure that overpaid GST is refundable only in certain circumstances. [LTN 104, 2/6/14]