NSW land tax: Theophilas v Chief Comr – PPR exemption not applied to Randwick property whilst absent for extended rennovations [76]

A taxpayer has been unsuccessful before the Appeal Panel of the NSW Civil and Administrative Tribunal in seeking the principal place of residence (PPR) land tax exemption in respect of a property for the 2013 land tax year. The Commissioner had issued the taxpayer a land tax assessment on the basis that he was entitled…

Vic: Back to Work Bill will give relief for employing unemployed and now awaits Assent after amendment requiring quarterly operational reports [72]

The Back to Work Bill 2014 (Vic) has passed all stages of the Victorian Parliament with amendments made in the Legislative Assembly and Legislative Council and awaits Assent. The Bill establishes a Back to Work Scheme for the purpose of providing relief to employers in respect of the costs associated with hiring certain unemployed or…

SA: Stamp Duties (Off-The-Plan Apartments) Amendment Bill awaits Royal Assent [71]

The Stamp Duties (Off-The-Plan Apartments) Amendment Bill 2014 (SA) has passed all stages of the SA Parliament without amendment and awaits Assent. It amends the Stamp Duties Act 1923 (SA) to extend the stamp duty concession for apartments bought off-the-plan to include a defined inner metropolitan area. The extended off-the-plan stamp duty concession applies to…

Tax Practitioners Board v Li – Court declares that former tax agent made reckless statements, but declined to impose a pecuniary penalty [68]

The Federal Court has held that a tax agent had breached the Tax Agent Services Act 2009 (TASA) by recklessly making statements to the Commissioner that were false, incorrect or misleading, although it did not impose a pecuniary penalty. Between August and September 2011, the registered tax agent prepared and lodged 90 individual income tax returns based on information…

Charity status of 1,380 “double defaulters” revoked: ACNC [67]

The Australian Charities and Not-for-profits Commission (ACNC) yesterday [Mon 30.3.2015] revoked the charity registrations of 1,380 double defaulter charities who had not submitted their 2013 and 2014 Annual Information Statements. The ACNC Commissioner, Susan Pascoe AM, said revocation “is a last resort”; however, charities that do not meet their obligations will lose their charity registration…