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We are pleased to supply you with the December 2013/January 2014 edition of Client Alert, which contains information on a number of important taxation developments up to and including 15 November 2013:
- Tax changes following carbon tax and mining tax repeal – The Abbott government has introduced into Parliament proposed legislation to repeal the carbon tax and the mining tax.
- No GST following purchase of leased apartments – The Full Federal Court has found in a taxpayer’s favour in a matter concerning residential apartments purchased as a going concern.
- Individual not a tax resident of Australia – An individual taxpayer has been successful before the Administrative Appeals Tribunal (AAT) in arguing that he was not an Australian resident for tax purposes.
- Legal expense deductions to fight ASIC charges refused – A stockbroker has been unsuccessful in arguing that legal expenses he had incurred were deductible.
- Tax debt release based on serious hardship refused – The AAT has held that it did not have the power to release an individual from his tax liability based on serious hardship grounds.
- GST refund request made too late – An individual taxpayer has been unable to seek a review of the ATO’s decision to refuse a GST refund.
Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.
If you want to read more about these tax changes click here.