The applicant has appealed to the Federal Court against the decision in Re Mahaffy and the Tax Practitioners Board [2014] AATA 17. In that case, the AAT ordered that a decision of the Tax Practitioners Board refusing to renew a tax agent’s registration be stayed pending the hearing of the tax agent’s application for a…
The Institute of Public Accountants (IPA) has said it is disappointed that the Tax Practitioners Board (TPB) has not taken on calls from the industry, when it comes to education qualification requirements for tax (financial) advisers. “At a time when the public is seeking the best financial planning and tax advice, it is imperative to…
The Tax Practitioners Board (TPB) has issued the following Exposure Draft Information Sheets: TPB(I) D25/2015 Applying for registration during the transitional period: Sufficient experience to be able to provide tax (financial) advice services to a competent standard – explains the Board’s preliminary views on the meaning of “sufficient experience” and “competent standard” for registering as…
The Tax Practitioners Board (TPB) has issued the following Information Sheets: TPB(I) 23/2014 Sufficient number requirement for partnership and company registered tax (financial) advisers – assists entities to understand the Board’s approach to the sufficient number requirement for registration or renewal of registration as a tax (financial) adviser from 1 January 2016. TPB(I) 22/2014 Fee or other…
The Assistant Treasurer, Josh Frydenberg, on Mon 19.1.2015, released the Inspector-General of Taxation’s Review into the ATO’s administration of valuation matters. He said valuation requirements have been an area of ongoing concern for taxpayers. The Inspector-General has identified inherent difficulties associated with the nature and associated costs of valuations. Given these issues, the Inspector-General has made…
The Government on Tue 20.1.2015, released the Board of Taxation’s report on taxation impediments to the success and growth of small business and the Government’s response to that report. The Board had provided its report to the Government at the end of August 2014. The Government says it wants to simplify small business’ interactions with the tax…
The Australian Charities and Not-for-profits Commission (ACNC) says it continues to “clean-up” the national Charity Register and has revoked the charity status of 392 charities that the regulator believes are no longer operating. The group of 392 charities were among approximately 56,000 charities transferred to the ACNC from the ATO in December 2012. The list of the…
The ATO has advised that it has used new powers to recover $8m in workers’ superannuation entitlements from the operators of labour-hire companies in South Australia and Victoria who have engaged in phoenix behaviour. The ATO said the network of companies provided labour-hire services such as seasonal fruit picking and meat packing and had been…
The Federal Court has imposed impose civil pecuniary penalties upon the directors of the trustee of a regulated superannuation fund in respect of admitted contraventions of the SIS Act. In the period 31 March 2000 to August 2013, the first respondent, Early Sunshine Pty Ltd (Early Sunshine), was the trustee of the George MacDonald & Sons Pty Ltd Superannuation…
The Full Federal Court has partly allowed appeals by commissioned officers of the Western Australian police force against superannuation contributions tax assessments. [See discussion above under ‘Cases’ – ‘Full Federal Court’.] (Albrecht & Ors v FCT [2014] FCAFC 176, Full Federal Court, Perram, Robertson and Griffiths JJ, 19 December 2014.) [LTN 1, 5/1/15]