The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 – Schedule 5, will amend the TAA 1953 to allow taxation officers to disclose the tax debt information of a particular entity operating a business to credit reporting bureaus when certain conditions and safeguards are satisfied. See related Tax Technical article…
On 13 August the Tax Practioners Board (Board) posted a news article advising that it had terminated the registration of a tax agent for failing to exercise reasonable care and failure to act competently (all breaches of the Code of Conduct in Div 30 of TASA 2009). On the face of it, this seems harsh…
On 13 August 2019, the Tax Practioners Board (Board) uploaded a news article advising that it had terminated the registration of a tax agent and imposed a 5 year period, during which the agent could not apply to be re-registered. And it wasn’t just for the $1.4m the agent owed in tax and superannuation debt.…
On 13 August 2019, the Tax Practitioners Board (Board) posted a news article saying that the registration of an unnamed tax agent was terminated for multiple breaches of the Code of Conduct, which appears in s30-10 of TASA 2009. The Board also imposed a 2 year period during which the Agent could not apply for…
On 7 August 2019, the Tax Practitioners Board uploaded a news article that a Mr Shmuel had his registration as a tax agent terminated, because he failed to meet the fit and proper person’ test. Also, the Board imposed a 12 month period, where he could not re-apply. Further, the AAT upheld the TPB’s decision.…
On 6 August 2019, the Tax Practitioners Board uploaded a news article recording that an unregistered tax agent, who preyed on backpackers, was arrested – for fraud (not being unregistered). See below for further detail. FJM 16.8.19 [Tax Month – August 2019]
On 16 August the ATO announced that it will be visiting about 350 businesses in Darwin and 400 small businesses in Cooktown and Port Douglass to investigate ‘black economy’ activity and educate businesses about how to comply. See below for more detail, including the types of businesses they will visit and the timing of the…
On 16 August 2019, The Taxations Institute’s Senior Tax Counsel: Mr Bob Deutsch, CTA, filed the following report in its TaxVine edition #31. It is entitled: ‘Overseas property investments – understanding the key issues’. See below for further details. FJM 16.8.19 [Tax Month – August 2019]
On 12 August 2019, the Federal Court upheld the taxpayer’s appeal from the AAT, which had made an adverse finding, that the ‘personal services income’ (PSI) rules to assess the Taxpayer, to his companies’ consulting income – despite having 8 ultimate clients. The Court remitted the matter back to the AAT to be determined according…
On 12 August 2019, the Federal Court dismissed the taxpayers appeal from the AAT’s decision that husband’s personal services income should be taxed, to him (under Div 86 of the ITAA97) despite the services being supplied by a partnership with his wife. This was because he did not ‘supply the plant and equipment or tools…