The AAT has refused to stay a decision of the Tax Practitioners Board to terminate the applicant’s registration as a tax agent and prohibit his registration for 5 years. The Board originally made its decision on the basis of finding that the applicant was not a “fit and proper person” to be registered as a…
The Tax Practitioners Board (TPB) has updated its Qualifications List to include new Board approved units which count towards a Board approved course in Australian taxation law and commercial law under the “mix and match” approach. [LTN 66, 9/4/13]
The AAT has held that it did not have jurisdiction to review a decision of the Tax Practitioners Board to grant an applicant’s application to register as a BAS agent, but for a shorter period sought by the applicant, under the Tax Agent Services Act 2009 (TASA). The applicant had been taken to be a…
The Revenue Legislation (Tax Reform) Amendment Bill 2013 (ACT) was introduced into the ACT Legislative Assembly on 11 April 2013. The Bill proposes to amend the Land Tax Act 2004 (ACT) and the Rates Act 2004 (ACT) to implement parts of the first tranche of the Territory’s 20-year tax reform plan announced in the 2012-13 ACT Budget.…
The High Court on Fri 12.4.2013, refused applications for special leave by 4 taxpayers to appeal from the decision of the Full Court of the SA Supreme Court in National Mutual Life Association & Ors v Comr of State Taxation [2011] SASCFC 106. The Full Supreme Court had dismissed the appeals of 3 taxpayers (ING…
The Victorian Government has announced that it will increase the First Home Owner Grant from $7,000 to id=”mce_marker”0,000 for newly constructed houses and apartments, including those built under a home building contract, built by an owner-builder, purchased off-the-plan or sold for the first time as a residential premise. The id=”mce_marker”0,000 FHOG will apply from 1 July 2013…
The NSW Premier has announced that NSW will implement the Gonski national education reforms, securing $5bn in additional funding for NSW schools. Mr O’Farrell said the NSW Government had identified the id=”mce_marker”.7bn in savings needed to fund the State Government’s share of the reforms [the Commonwealth would provide $3.3bn]. He said Cabinet had agreed to…
The Government on Fri 5.4.2013, announced the following major superannuation reforms to end mounting speculation ahead of the 2013 Budget. Tax-free pension earnings capped – the Government will amend the law to cap the tax exemption for earnings on superannuation assets supporting income streams to the first id=”mce_marker”00,000 of future earnings for each individual. From…
The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has released reports evaluating the tax systems in Belize, Finland, Iceland, Nauru, Poland, Portugal, Sweden and Turkey. In a further 4 reports, the Global Forum identifies the deficiencies in the tax systems of Belgium, the Cayman Islands, Guernsey and Singapore and makes…
At its meeting on Tue 2.4.2013, the Reserve Bank Board decided to leave the official cash rate unchanged at 3%. The Board said “[i]nternationally, financial conditions are very accommodative” and that “[i]n Australia, growth was close to trend”. In addition, it indicated that “with inflation likely to be consistent with the target, and with growth…