On 30 January 2014, the OECD invited comments from interested parties on the Discussion Draft on transfer pricing documentation and country-by-country reporting related to Action 13 of the BEPS Action Plan. The OECD has now published the comments received. The OECD says the input will be discussed by Working Party No. 6 of the Committee on Fiscal…
The Qld Office of State Revenue (OSR) has issued the following Public Rulings: DA145.1.1 (Transfer duty exemption for qualifying vestings of land in the State); and DA416.1.1 (Vehicle registration duty – duration period for exemption for charitable institutions). [LTN 61, 31/3/14]
The NSW Civil and Administrative Tribunal has affirmed the Commissioner’s decision to impose on a taxpayer a 75% penalty tax for “intentional disregard” in relation to the taxpayer’s tax default as a result of incorrectly claiming the principal place of residence (PPR) land tax exemption in respect of a property for the 2000 to 2006…
The NSW Government on Tue 4.3.2014, announced that it will provide a $6,000 payroll tax rebate to businesses that employ workers who have recently lost their jobs through large-scale restructures. NSW Treasurer Mike Baird said the $6,000 Fresh Start Support payroll tax rebate includes the existing $5,000 rebate already available under the NSW Government’s Jobs Action…
The ACT Revenue Office has issued Revenue Circular PTA074.1 which updates Revenue Circular PTA074. The Circular aims to assist employment agents to determine the application of the exemption provisions on their own payroll tax liability. The Circular is effective from 1 October 2013. [LTN 46, 10/3/14]
In a decision handed down on Mon 24.3.2014, the NSW Civil and Administrative Tribunal affirmed a decision of the Commissioner to impose stamp duty on a document under s 58(2) of the Duties Act 1997 (NSW). On 1 May 2013, the Commissioner assessed duty and imposed interest on a document signed by the taxpayer as “trustee” and a…
In a decision handed down on Wed 12.3.2014, the NSW Civil and Administrative Tribunal affirmed a decision of the Chief Commissioner of State Revenue (NSW) to assess 2 taxpayers (brothers) to land tax in respect of a property for the 2008 to 2012 land tax years. The taxpayers had contended that they were entitled to…
The State Revenue Legislation Amendment Bill 2014 (NSW) (formerly known as State Revenue Legislation Amendment Bill 2013 (NSW)) proposed a number of amendments to the Duties Act 1997 (NSW). Some of the main amendments include: making further provision for duty on transfer of options to purchase land, including to prevent avoidance practices; making further provision…
The Payroll Tax Rebate Scheme (Jobs Action Plan) Amendment (Fresh Start Support) Bill 2014 (NSW) was introduced into the NSW Legislative Assembly on Thur 6.3.2014. The Bill proposes to amend the Payroll Tax Rebate Scheme (Jobs Action Plan) Act 2011 (NSW) to implement the NSW Government’s proposed support scheme to provide for an additional payroll…
The Duties (Commercial Leases) Amendment Bill 2014 (ACT) was introduced into the ACT Legislative Assembly on 20 March 2014. It proposes to amend the Duties Act 1999 (ACT) to introduce a premium-based method for assessing duty on commercial leases, being leases that have only a commercial purpose, or more than one purpose including commercial purposes. Examples of…