The taxpayer has lodged an application for special leave to appeal to the High Court against the Full Federal Court decision in SCCASP Holdings as trustee for the H&R Super Fund v FCT [2013] FCAFC 45. The Full Federal Court had upheld an earlier finding that a resolution to distribute a id=”mce_marker”4m capital gain from…
The Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Amendment Regulation 2013 (No 1) was registered Thur 13.6.2013. It amends the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991 and the Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 to increase the amount of the SMSF supervisory levy payable for the 2013-14 income…
The ATO on Wed 19.6.2013, released a Decision Impact Statement on the decisions in AAT Case [2012] AATA 616, Re Wynnum Holdings No 1 Pty Ltd & Ors and FCT and AAT Case [2011] AATA 296, Re Wynnum Holdings No 1 Pty Ltd and FCT. In relation to Case 616, the AAT held a taxpayer…
The Tax Commissioner will appear before the Federal Parliamentary Joint Committee on Public Accounts and Audit in Canberra tomorrow [Wed 26.6.2013]. Tax Commissioner Chris Jordan will be joined by the Auditor-General, the Inspector-General of Taxation, and the Commonwealth Ombudsman in a broad-ranging discussion on the present and future of tax administration. Committee Chair Rob Oakeshott said annual…
The Tax Office has advised that the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) rates for the 1st quarter of the 2013-14 financial year (ie 1 July 2013 to 30 September 2013) are as follows: GIC annual rate is 9.82%; GIC daily compounding rate is 0.02690411%; SIC annual rate is 5.82%; and SIC daily compounding rate is…
The AAT has held that it did not have jurisdiction to hear a taxpayer’s application for review of an alleged objection decision by the Commissioner concerning a GST refund issue. The Tribunal said Mr Andrew Garrett, as trustee of the Andrew Garrett Family Trust (No 3), lodged with the AAT an application on behalf of…
The ATO has reminded taxpayers of changes made last year to means test the 30% private health insurance rebate. Individuals earning more than $84,000, or families earning more than id=”mce_marker”68,000, will start to lose the rebate in the 2012-13 financial year. The ATO said it will work out the rebate entitlement of taxpayers when they…
The taxpayer has lodged a notice of appeal to the Full Federal Court against the decision in ATS Pacific Pty Ltd v FCT [2013] FCA 341. In that case, the Federal Court held that supplies provided by a taxpayer, an Australian travel agent, to non-resident travel agents were subject to GST, as they did not…
The High Court has dismissed the taxpayer’s application for special leave to appeal against the decision of the Full Federal Court in Cyonara Snowfox Pty Ltd v FCT [2012] FCAFC 177. The Full Federal Court had dismissed the taxpayer’s appeal against an earlier AAT decision, which had affirmed a GST assessment under the margin scheme…
In a decision handed down on Tue 4.6.2013, the AAT has held that a taxpayer was not a “person … dissatisfied” with the Commissioner’s reviewable objection decision and relating to the withholding of a GST refund, and as a consequence, was not entitled to apply to the Tribunal for review of that decision. The taxpayer…