It is understood the WA Government will move to amend the law in response to the WA State Administrative Tribunal’s decision in Aveland Pty Ltd v Comr of State Revenue [2013] WASAT 180. In that case, the Tribunal held a property, partly developed by a taxpayer to become an 80 unit retirement village, was entirely…
The WA Office of State Revenue (OSR) has recently issued the following Commissioner’s Practices: TAA 27.0 (Interim assessments) – outlines the circumstances in which the Commissioner will make an interim assessment of a portion of transfer duty or landholder duty prior to making a complete assessment of the taxpayer’s duty liability. The Commissioner’s Practice took…
The Tasmanian State Revenue Office (SRO) has issued a factsheet on the Tasmanian Government’s announcement to increase the First Home Builder Boost from $8,000 to $23,000 (see Tasmanian Premier’s media release, 7 November 2013). Combined with the First Home Owner Grant of $7,000, first home buyer assistance in Tasmania now totals $30,000. The new Boost applies to…
RevenueSA has advised that the SA Treasurer has approved an ex gratia scheme to extend the housing construction grant to new homes located in residential parks and retirement villages. RevenueSA has issued Revenue Rulings FHOG003 and FHOG004 concerning the ex gratia scheme in relation to residential parks and retirement villages, respectively. Further information on the…
The Qld Office of State Revenue (OSR) has issued the following new Public Rulings: DA505.2.1 (Dutiable value of transfers of land to local governments) – sets out the Commissioner’s practice in relation to the evidence he may rely upon to establish the dutiable value of land transferred to local governments in particular situations. Similar matters were previously…
The Qld Office of State Revenue (OSR) has issued Public Ruling TAA060.4.1 (Impact of refund on unpaid tax interest for another outstanding liability). It clarifies how the Qld Commissioner of State Revenue will exercise his discretion to remit unpaid tax interest under s 60 of the Taxation Administration Act 2001 (Qld) on an amount of primary…
The NSW Government has responded to the NSW Joint Standing Committee On the Office Of The Valuer General’s report examining the NSW land valuation system. The Government said it will commence work on a range of measures suggested by the Committee to improve transparency, fairness and accountability. The Committee made 29 recommendations. Some of the key…
In a decision handed down on Thur 28.11.2013, the NSW Administrative Decisions Tribunal affirmed the Commissioner’s decision denying a taxpayer’s claim for a duty exemption in relation to the purchase of 2 residential properties. The taxpayer was a body corporate incorporated under the Baptist Union Incorporation Act 1919 (NSW). It purchased 2 residential properties and…
The State Taxation and Financial Legislation Amendment Bill 2013 (Vic) has passed the Victorian Legislative Assembly without amendment and has moved to the Legislative Council. It amends the Duties Act 2000 (Vic) to make provision for dutiable transactions effected electronically by means of an Electronic Lodgment Network, an online facility for the electronic conveyance of…
The following SA Bills have passed the SA Legislative Assembly without amendment: Succession Duties Repeal Bill 2013(SA) – proposes to repeal the Succession Duties Act 1929 (SA). Stamp Duties (Off-the-plan apartments) Amendment Bill 2013 (SA) – proposes to amend the Stamp Duties Act 1923 (SA) to extend the stamp duty concession for apartments bought off-the-plan…