The Fire Services Property Levy Bill 2012 (Vic) has passed the Victorian Legislative Assembly without amendment and has moved to the Legislative Council. It proposes to implement the Victorian Government’s announcement to impose a fire services property levy on all land in Victoria unless specifically exempted. The new property-based levy is proposed to commence on…
The Statutes Amendment and Repeal (Budget 2012) Bill 2012 (SA) has been laid aside by the SA Legislative Council. The Bill had proposed to implement a number of the 2012-13 SA Budget announcements ie stamp duty concession for off-the-plan apartments, $8,000 First Home Bonus Grant for 2012-13, and payroll tax changes for apprentices and trainees.…
The Fiscal Repair Amendment Bill 2012 (Qld) was introduced into the Qld Legislative Assembly on 11 September 2012. The Bill proposes to amend the following Qld Acts to implement most of the 2012-13 Budget proposals: the Duties Act 2001; the First Home Owner Grant Act 2000; the Mineral Resources Act 1989; the Petroleum and Gas…
The State Revenue Legislation Further Amendment Bill 2012 (NSW) was introduced into the NSW Legislative Assembly on Thur 20.9.2012. It proposes various amendments to the Duties Act 1997 (NSW) to: clarify the liability to duty on a transfer of a partnership interest that occurs as a result of the retirement of a partner or the…
The Tax Practitioners Board (TPB) has warned tax agents about being used by others to lodge fraudulent tax returns. Board Chairman Dale Boucher said the Board has terminated a number of tax agent registrations for failing to take reasonable care and for not being fit and proper persons. These agents were involved in lodging fraudulent…
In a decision handed down Fri 14.9.2012, the AAT has affirmed a decision of the Tax Practitioners Board to terminate the applicant’s registration as a tax agent and declare that he could not apply for registration as a tax agent or BAS Agent for a period of 3 years. The AAT said that in February…
The Tax Practitioners Board (TPB) has advised that the Federal Court last week ordered a man to pay a $40,000 penalty for breaches of the Tax Agent Services Act 2009. The Court found the man was operating as a tax agent, including preparing income tax returns, charging people for this service while unregistered and advertising…
The Tax Practitioners Board (TPB) on Fri 14.9.2012, issued for comment the following Draft Information Sheets: (Code of Professional Conduct – reasonable care to ascertain a client’s state of affairs) – covers Code Item 9. Under Code Item 9, registered tax and BAS agents must take TPB(I) D15/2012reasonable care in ascertaining a client’s state of…
The Tax Practitioners Board (TPB) has issued Information Sheet TPB(I) 14/2012 (Tertiary qualifications in a discipline other than accountancy for tax agents). Item 202 in Sch 2 of the Tax Agent Services Regulations 2009 (TASR) contains 1 of the 6 options for meeting the qualifications and experience requirements for registration, including renewal of registration, as…
The ATO will be closely scrutinised when the Commissioner of Taxation fronts Federal Parliament’s Joint Committee of Public Accounts and Audit (JCPAA) on Fri 14.9.2012, at Parliament House in Canberra. The ATO will be joined by the Auditor General, the Inspector-General of Taxation, the Commonwealth Ombudsman, and representatives from small business and tax professional organisations.…