Personal services income case
The Administrative Appeals Tribunal has found that a company was not conducting a personal services business (PSB) as it did not satisfy the results test. Accordingly, the Tribunal held that the income of the company should be attributed to a taxpayer as personal services income (PSI).
HELP/SFSS debt repayment deferral denied: AAT Case
The Administrative Appeals Tribunal (AAT) has affirmed the Commissioner’s decision to refuse a taxpayer a deferral of his Higher Education Loan Program (HELP) and Student Financial Supplement Scheme (SFSS) debt repayments.
Main residence exemption
In a recent case, the Administrative Appeals Tribunal held that the capital gains tax (CGT) main residence exemption was not available to a husband and wife (the taxpayers) on a unit they acquired with the intention of it being their main residence, but which they ultimately never lived in.
GST registration and conducting a business
In recent months, the Administrative Appeals Tribunal (AAT) has presided over several cases involving taxpayers appealing against the Commissioner’s decision to cancel their GST registration.
Capital gain on property sale upheld
The AAT has upheld the inclusion of a $178,867 capital gain on the sale of a property as assessable income of the taxpayer, but reduced the additional tax penalty to 25% of the tax shortfall.
Input tax credit denied on property
The AAT has denied a taxpayer an input tax credit for the acquisition of ‘a single storey house with a carport’. The taxpayer purchased the property at which time it was leased to a tenant. In addition, the property was purchased with a development application to construct 10 units. In its BAS for the September 2006 quarter, the taxpayer claimed the credit in respect of the property, which the Commissioner disallowed under section 40-65 of the GST Act and issued an assessment to that effect.
Rental property not held on trust
The AAT has rejected a submission that rent paid to the taxpayer was in fact derived by her mother.
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