Category Archives: Tax Month – September 2014

NSW land tax: Woods v Chief Comr of State Revenue – Principal Place of Residence (‘PPR’) exemption revoked, but Comr told to reconsider delay [59]

The NSW Civil and Administrative Tribunal has remitted a matter to the Chief Commissioner of State Revenue (NSW) to reconsider a land tax reassessment issued more than 5 years after initially allowing the principal place of residence (PPR) land tax exemption in respect of the land. In August 2013, the Commissioner issued to the taxpayers (2 individuals)…

NSW land tax: Loomes v Chief Comr of State Revenue – discretion to “write off” unpaid land tax refused [58]

Two taxpayers have been unsuccessful before the NSW Civil and Administrative Tribunal in seeking to have unpaid land tax written off under s 110 of the Tax Administration Act 1996 (NSW). The taxpayers purchased the property in November 2010 with the intention of making it their home. They planned to demolish the existing dwelling and construct a new…

SA: Budget Bill awaits Assent [57]

The Budget Measures Bill 2014 (SA) has passed all stages of the SA Parliament with amendments and awaits Assent. The Bill had passed the Legislative Council with amendments to remove the proposed “car park tax” which were agreed to by the House of Assembly. The Bill implements the SA Budget 2014 measures including the introduction…

Qld payroll tax: twice yearly lodgment for small businesses [56]

The Qld Treasurer has announced that Qld businesses with an annual payroll tax liability of less than $20,000 will now only need to lodge payroll tax returns just twice a year, instead of every month. “From next year these small and medium Qld businesses will save time and money on unnecessary red tape and get on…

NSW: State Revenue Legislation Amendment (Electronic Transactions) Bill introduced [55]

The State Revenue Legislation Amendment (Electronic Transactions) Bill 2014 (NSW) was introduced in the NSW Legislative Assembly Wed 10.9.2014. The Bill proposes to amend the Duties Act 1997 (NSW) and the Taxation Administration Act 1996 (NSW) to make further provision for the assessment and payment of tax by electronic means. Among other things, the amendments:…

*‘Tax (financial) adviser’ registration options: TPB updates [54]

The Tax Practitioners Board (TPB) has released the following updates: Summary of qualifications and experience requirements for registration as a tax (financial) adviser under the standard option – Table summarising the qualifications and experience requirements that apply from 1 January 2016. Qualifications and experience for tax (financial) advisers – Outlines the qualifications and experience requirements for registration…

*‘Sufficient number’ and ‘fee or other reward’ for tax (financial) advisers: TPB drafts Information Sheets released [53]

The Tax Practitioners Board (TPB) Wed 24.9.2014, released for comment the following 2 exposure draft Information Sheets: Draft Information sheet TPB(I) D23/2014 – the meaning of “fee or other reward” for tax (financial) advisers – will assist entities to determine what constitutes a fee or other reward. Draft Information sheet TPB(I) D24/2014 – the sufficient…

Re Su and Tax Practitioners Board – prohibition period upheld [51]

The AAT has upheld a period of 3 years during which a de-registered tax agent is prohibited from applying for registration as a tax agent. The applicant commenced practice as a registered tax agent in 2005. He lodged 164 tax returns on the instructions of one of 2 men who had approached him about preparing…

Re Burnett and Tax Practitioners Board – Tax agent registration renewal denied [52]

The AAT has upheld a Tax Practitioners Board decision and rejected a tax agent’s application for renewal of her registration as a tax agent. The tax agent had been registered since 1980. The agent had been audited on several occasions by the ATO and adjustments totalling over $500,000 had been made to the assessments of…

*ACNC to revoke registration of 400 charities that appear not to be operating [50]

The Australian Charities and Not-for-Profits Commission (ACNC) has announced that it plans to revoke the charity status of 400 organisations it believes are no longer operating. These charities are being removed from the ACNC Charity Register as they have not been in contact with the ACNC since its establishment on 3 December 2012, have not responded to…