The WA Budget 2013-14 was handed down on Thur 8.8.2013. WA Treasurer Troy Buswell announced a number of revenue measures including the following. He affirmed an election promise to increase the payroll tax exemption threshold to $800,000 (from the current $750,000) from 2014-15, and to $850,000 from 2016-17. Mr Buswell also announced a 12.5% increase…
The Stamp Duties Regulations 2013 (SA) was gazetted on 22 August 2013. It revokes Stamp Duties Regulations 2002 (SA) and allows the continued operation of certain regulations eg computation of duty where instruments are interrelated (reg 11). The Regulations commenced on 22 August 2013. [LTN 163, 23/8/13]
The First Home and Housing Construction Grants (Budget 2013) Amendment Bill 2013 (SA) has passed all stages without amendment and awaits Assent. It makes legislative amendments to extend the Housing Construction Grant (HCG) for a further 6 months as announced in the SA Budget 2013-14. The extension of the HCG means that home-buyers who enter…
The Duties Regulation 2013 (Qld) was gazetted on 16 August 2013. The 2013 Regulation remakes the Duties Regulation 2002 (Qld), which is due to expire on 31 August 2013. The provisions contained in the 2002 Regulation remain necessary for the continued operation of the Duties Act 2001 (Qld) – this includes, for example, prescribing the activities which qualify as…
The First Home Owner Grant Amendment Bill 2013 (ACT) received notification on 26 August 2013 as Act No 34 of 2013. It had passed all stages without amendment and makes legislative changes to increase the ACT First Home Owner Grant to id=”mce_marker”2,500. The grant has also been retargeted to new and substantially renovated properties only. The measures…
The Duties (Duty Deferral) Amendment Bill 2013 (ACT) was introduced into the ACT Legislative Assembly on 8 August 2013. As part of the ACT Government’s housing affordability measures, amendments are being made to the First Home Owner Grant Act 2000 (ACT) which will take effect from 1 September 2013. These amendments will retarget the grant to new and substantially…
The Tax Practitioners Board (TPB) says it has recently investigated a number of cases where tax agents had been approached by third parties advising that they were acting on the authority of a number of taxpayers and the agents subsequently lodged income tax returns containing false payment summaries and other false information. The income tax…
The Tax Practitioners Board (TPB) has advised that 2 additional Board approved courses have been added to its qualifications list for BAS agents. The list is available on the TPB website. [LTN 157, 15/8/13]
The Federal Court has granted an application by the Tax Practitioners Board for the imposition of civil penalties under the Tax Agent Services Act 2009 (TASA), together with declaratory and injunctive relief in respect of numerous contraventions of the TASA alleged against the respondent. The Court noted the parties had agreed to a penalty of…
The Tax Practitioners’ Board (TPB) has issued for comment the following exposure draft information sheets: Exposure draft TPB (I) D17/2013 (Code of Professional Conduct – reasonable care to ascertain a client’s state of affairs) – This Draft Information sheet provides guidance on the application of Code Item 9. Code Item 9 requires registered agents to…