The Corporations Amendment (Register of Relevant Providers) Regulation 2015 was registered [on Mon 16.2.2015]. It makes a number of amendments to the Corporations Regulations 2001 to establish a register of all financial advisers. The purpose of the Regulation is to create a register of all natural persons who provide personal advice on more complex products…
Treasury [on Wed 25.2.2015] issued for comment an options paper on proposed reforms to strengthen Australia’s foreign investment framework, particularly around residential real estate and agriculture. The proposed reforms include: increasing compliance and enforcement activities around foreign investment in residential real estate through the creation of a specialised investigative and enforcement area within the Tax…
To improve the scrutiny of foreign purchases of agricultural land, the Prime Minister has announced the Government will reduce the screening threshold from $252m to $15m from 1 March 2015. The new id=”mce_marker”5m screening threshold will apply to the cumulative value of agricultural land owned by the foreign investor, including the purposed purchase. The Government will also…
The ACT Revenue Office has issued Revenue Circular PTA074.4 regarding payroll tax exemptions for employment agents. The Circular took effect from 1 January 2015, following removal of the “genuine employer” exemption. [LTN 23, 5/2/15/15]
The [taxpayer] Mr Teissier made an application under s 40(1) of the Taxation Administration Act 2003 (WA) for the Tribunal to review a decision made by the Commissioner to reassess particular lots owned by him for land tax. Those lots had previously been assessed as being exempt from tax. The taxpayer sought orders that the…
A taxpayer has been successful before the Qld Supreme Court in a land rich duty matter concerning whether, at the relevant time, a corporation’s land-holdings included its interest in mining leases granted under the Mineral Resources Act 1989 (Qld). The taxpayer acquired 51% of the issued shares in the subject corporation on 20 December 2010. At that…
In Chief Commissioner of State Revenue v Seovic Civil Engineering Pty Ltd [2014] NSWCATAP 94, the Appeal Panel of the NSW Civil and Administrative Tribunal overturned an earlier decision of the Tribunal, finding that the Commissioner was not required to de-group an administration company from the two other entities it provided services to. The Appeal…
In Levitch Design Associates Pty Ltd ATF Levco Unit Trust v Chief Commissioner of State Revenue [2014] NSWCATAD 215, the Tribunal considered the application of s 32 of the Payroll Tax Act 2007 (NSW) to payments for architectural services by Levitch Design Associates (LDA). While the Tribunal found that the agreement between LDA and Mr…
In Qualweld Australia Pty Limited v Chief Commissioner of State Revenue [2014] NSWCATAD 227, the Tribunal considered whether payments made by a business in the welding industry (Qualweld) to its welding contractors were subject to payroll tax under the “employment agency contract” provisions of the Payroll Tax Act 2007 (NSW). In coming to its decision,…
In a decision handed down [on Wed 4.2.2015], the NSW Civil and Administrative Tribunal confirmed payroll tax assessments issued to a taxpayer for the period 1 July 2002 to 30 June 2007. The Commissioner had grouped the taxpayer with 2 other companies for the purposes of s 16D(2) of the Pay-roll Tax Act 1971 (NSW) for the period 1 July 2002 to…