The Sheahan J (NSW Land and Environment Court) has handed down the decision in Karimbla Properties v Council of the City of Sydney et al [2017] NSWLEC 75 (‘the Karimbla Case’). Karimbla Properties (‘Karimbla’) contended that once earthworks commence on land which has approval for a residential project, the land should be classified as ‘residential’ […]
Eligibility ‘ Rating Categorisation: the Karimbla Case Read More »
The Federal Budget presented on 9 May 2017 contained several taxation-related matters that will impact on, or otherwise interest, NFPs. Some matters will be relevant to all NFPs and others will have a more limited audience. (a) Matters for all NFPs to Note (i) Foreign Resident Capital Gains Withholding Changes The parameters governing application of
Eligibility ‘ Federal Budget Implications for NFPs Read More »
Summary of Key Practical Points: Many transactions that are outside the ambit of Foreign Resident Capital Gains Withholding Tax (in its current form) will fall within its scope from 1 July 2017, if the threshold change which was announced in the 2017–18 Federal Budget is enacted. For contracts made after 30 June 2017 and providing
On 6 April 2017, the Legislative Instrument PAYG Withholding variation for foreign resident capital gains withholding payments – income tax exempt entities (Legislative Instrument) was registered as F2017L00390. Background Purchasers and transferees of certain types of CGT assets must withhold an amount under Subdiv 14‑D of Schedule 1 to the TAA where they acquire the asset from
(1) Service Concession Arrangements: Grantors – draft AASB Standard The Australian Accounting Standards Board has issued a draft AASB standard Service Concession Arrangements: Grantors (Fatal-Flaw Review Version) (the Draft). The AASB seeks comments by 14 March 2017. The objective of the draft Standard is to prescribe the accounting for a service concession arrangement by a
Eligibility ‘ Recent Developments at a Glance: February 2017 Read More »
A recent case, Snowy Monaro Regional Council v Chief Commissioner of State Revenue [2017] NSWCATAD 14, a decision of the New South Wales Civil and Administrative Tribunal, is a reminder for local councils to ensure all activities for which they pay wages are eligible for payroll tax exemption. The general design of State payroll tax
Eligibility ‘ Local Councils and Payroll Tax Exemption Read More »
A recent case UNSW Global Pty Ltd v Chief Commissioner of State Revenue [2016] NSWSC 1852 examined what type of transactions are intended to be covered by the employment agency rules found in the NSW Payroll Tax Act 2007 . In the particular, UNSW Global procured persons to: act as expert witnesses in matters (such
Eligibility ‘ When will the Employment Agent Rules not apply? Read More »
A recent case, Victorian Farmers Federation v Commissioner of State Revenue [2017] VCAT 19 (the VFF) saw the membership based Federation fail in its attempt to be recognised as charity for payroll tax purposes. The VFF’s objects included: to advance, promote and protect the interest of Members, the interest of Agricultural industries in which members
Eligibility ‘ Is the Victorian Farmers Federation a Charity Read More »
