Category Archives: Tax Month – September 2013

NSW payroll tax: Lombard Farms Pty Ltd v Chief Comr of State Revenue – taxpayer wins appeal for de-grouping request – discretion matter of judgment [60]

The Appeal Panel of the NSW Administrative Decisions Tribunal has allowed a taxpayer’s appeal against an earlier decision which had refused the taxpayer’s application to be excluded from a payroll tax group under s 79 of the Payroll Tax Act 2007 (NSW). In June 2011, the Commissioner issued payroll tax assessments to the taxpayer for the 2008 to…

WA stamp duty: prescribed transactions that are not dutiable transactions [59]

The Duties Amendment Regulations (No 2) 2013 (WA) was gazetted on 20 September 2013. They replace reg 4 of the Duties Regulations 2008 (WA) to amend the list of prescribed transactions that are not dutiable transactions under the Duties Act 2008 (WA). Date of effect: The changes vary depending on the prescribed item. Source: WA Government Gazette…

WA: Budget Bill awaits Assent [58]

The Revenue Laws Amendment Bill 2013 (WA) has passed all stages without amendment and awaits Assent. It amends the Duties Act 2008 (WA) and the Taxation Administration Act 2003 (WA) to introduce interim assessment and related provisions. These will allow the WA Commissioner of State Revenue to assess and collect duty on large, high complexity…

Tas: Taxation and Related Legislation (Miscellaneous Amendments) Bill – passes Lower House [57]

The Taxation and Related Legislation (Miscellaneous Amendments) Bill 2013 (Tas) has passed the Tasmanian House of Assembly without amendment and has moved to the Legislative Council. It was introduced into the House on 17 September 2013. Some of the key amendments include: amendments to the Duties Act 2001 (Tas) to include as consideration for the transfer of…

SA: Succession Duties Repeal Bill – introduced [56]

The Succession Duties Repeal Bill 2013 (SA) was introduced into the SA House of Assembly on 11 September 2013. The Bill proposes to repeal the Succession Duties Act 1929 (SA). The SA Government noted that all other Australian jurisdictions have abolished comparable legislation on the basis that the employment of resources required to administer the legislation was…

ACT: FHOG and duty deferral – Bill awaits notification [55]

The Duties (Duty Deferral) Amendment Bill 2013 (ACT) has passed all stages of the ACT Legislative Assembly without amendment and awaits notification. As part of the ACT Government’s housing affordability measures, amendments were made to the First Home Owner Grant Act 2000 (ACT) which took effect from 1 September 2013. These amendments retarget the grant to new…

Re Li and Tax Practitioners Board – Termination of tax agent registration: stay refused [54]

In a decision handed down on Fri 20.9.2013, the AAT refused an application for a stay of a Tax Practitioners Board (TPB) decision to cancel the registration of a tax agent and declare that he may not apply for registration for a period of 3 years. The applicant registered as a tax agent in November 2010 and in 2011…

Tax practitioners mostly aware of the Tax Practitioners Board’s role, but between 19% and 43% think it gives technical tax or accounting advice [53]

According to a survey conducted by the Tax Practitioners Board (TPB) and the ATO, tax practitioners have a healthy level of awareness of the TPB’s role and a broad understanding of the key elements of the tax agent services regime. The survey also indicated a high level of contact by practitioners with the TPB, particularly…

Commercial law requirements for tax agents – transitional arrangements [52]

The Tax Practitioners Board (TPB) has introduced some transitional arrangements to the requirements for a Board approved course in commercial law for new and renewal tax agent applications lodged between 1 March 2013 and 30 June 2014. The transitional changes only apply to Items 203 and 205 in Sch 2 to the Tax Agent Services Regulations 2009 (TASR). The Board…

Auditing SMSFs: AUASB Guidance Statement revised [51]

The Auditing and Assurance Standards Board (AUASB) today [Mon 30.9.2013] released updated Guidance Statement GS 009 Auditing Self-Managed Superannuation Funds (GS 009). The AUASB said the revised Guidance Statement identifies, clarifies and summarises the existing responsibilities which approved self-managed superannuation fund (SMSF) auditors have with respect to conducting SMSF audit engagements, and provides guidance to…