The CPI indexation factor, which is used for FBT purposes concerning remote area benefits (under ss 60 and 60AA of the FBTAA), for the June quarter 2013 increased 0.4 from the March 2013 quarter to 102.8. Inflation for the year to 30 June 2013 was running at 2.4%. The most significant price rises for the quarter were for medical and hospital…
NZ Commerce Minister Craig Foss has announced reforms to 3 areas of regulation regarding accounting and auditing services in New Zealand. The reforms are to be included in an Accounting Infrastructure Reform Bill, which will be introduced to the NZ Parliament later in 2013. The proposed reforms will: enable the New Zealand Institute of Chartered…
The NSW Office Of State Revenue (OSR) has released guidelines on legal professional privilege that is applied by the NSW Chief Commissioner of State Revenue. The guidelines set out procedures which must be followed by authorised officers when a claim of legal professional privilege is claimed by a person in the course of an investigation…
The Commissioners from Revenue Offices in each Australian state and territory have on Thur 25.7.2013, launched a joint payroll tax website (www.payrolltax.gov.au). The website builds on work undertaken over the last 6 years to harmonise payroll tax administration across the jurisdictions. The website currently features a “one-stop location” for harmonised payroll tax information, including a…
The Trans-Tasman Proceedings Commencement Proclamation 2013 was registered on Fri 26.7.2013. It fixes 11 October 2013 as the date of commencement of ss 3 to 110 of the Trans-Tasman Proceedings Act 2010. The Act streamlines the process for resolving civil proceedings with a trans-Tasman element in order to reduce costs and improve efficiency. It implemented into Australian…
The Qld Office of State Revenue (OSR) has issued Public Ruling DA000.12.1 (Transfer duty – exemption for farm-in transactions in the resources sector). The OSR says the Ruling implements the exemption for exploration and development expenditure occurring under a farm-in agreement as announced in the Qld Budget 2012-13. The Ruling publishes the terms of an…
The Victorian Civil and Administrative Tribunal has affirmed a land tax reassessment issued to a taxpayer after concluding that documents were leases and not a licence. The Commissioner of State Revenue (Vic) had issued a reassessment to the first taxpayer for the 2007 to 2011 land tax years thereby increasing the taxpayer’s liability by $3m.…
The State Tax Laws Amendment (Budget and Other Measures) Bill 2013 (Vic) on 28 June 2013 received Assent as Act No 41 of 2013. It had passed all stages without amendment and contains amendments to the Congestion Levy Act 2005 (Vic) to expand the levy to short-stay car spaces and to increase the levy rate as announced…
The WA Office of State Revenue (OSR) has issued Revenue Ruling DA 14.0 (Aggregation of dutiable transactions). The Ruling provides guidance as to when the WA Commissioner of State Revenue will consider that 2 or more dutiable transactions are taken to be substantially one arrangement. [LTN 132, 11/7/13]
The WA State Administrative Tribunal has made a determination concerning the payment of interest on a payroll tax refund owed to a taxpayer following an earlier successful application which had declared the taxpayer was a charitable body and therefore exempt from payroll tax. Essentially, the matter concerned the commencement date of the “reassessment period” in…