<![CDATA[Rice Legal - news]]>Mon, 10 Nov 2025 01:07:24 -0800Weebly<![CDATA[We're now on Facebook]]>Tue, 09 Jul 2013 11:05:12 GMThttp://www.ricelegal.com.au/news/were-now-on-facebookhttps://www.facebook.com/pages/Rice-Legal-formerly-DC-Lawyers/125676707510660
]]><![CDATA[High Court rules airline liable for GST on ticket cancellations]]>Thu, 04 Oct 2012 04:24:43 GMThttp://www.ricelegal.com.au/news/high-court-rules-airline-liable-for-gst-on-ticket-cancellationsThe High Court has held that GST was payable by an airline where a passenger books and pays for airline travel, but subsequently cancels the booking or does not turn up for the flight and does not receive a refund. Qantas Airways Limited v FC of T 2011



]]><![CDATA[Not-for-profit bills introduced into parliament]]>Wed, 12 Sep 2012 00:20:21 GMThttp://www.ricelegal.com.au/news/not-for-profit-bills-introduced-into-parliamentOn 23 August 2012 the Australian Charities and Not-for-profits Commission (ACNC) Bill 2012, the ACNC (Consequential and Transitional) Bill 2012 and the Tax Laws Amendment (Special Conditions for Not-for-profit Concessions) Bill 2012 were introduced into Parliament.
]]><![CDATA[We changed our name!]]>Thu, 19 Apr 2012 12:42:42 GMThttp://www.ricelegal.com.au/news/we-changed-our-nameFrom 10 April 2012, we changed our name to "Rice Legal" from "DC Lawyers", as part of our brand makeover. So watch this space! Nothing else has changed.  Our legal entity was and still is Magic Bird Pty Ltd (trading as Rice Legal).]]><![CDATA[Beware: independent contractors may be employees under Superannuation legislation!]]>Wed, 29 Feb 2012 04:49:28 GMThttp://www.ricelegal.com.au/news/beware-independent-contractors-may-be-employees-under-superannuation-legislationA recent decision of the Administrative Appeals Tribunal held that workers were not independent contractors (as was alleged by the taxpayer), but rather were employees. Consequently the taxpayer was liable to pay the superannuation guarantee charge. The case is Natalie Newton (trading as Combined Care for the Elderly) v Commissioner of Taxation (Newton). 
]]><![CDATA[Add GST to the purchase price of newly built property]]>Mon, 31 Oct 2011 07:27:10 GMThttp://www.ricelegal.com.au/news/add-gst-to-the-purchase-price-of-newly-built-propertyThe Government has recently introduced legislative amendments (due to the Full Federal Court's decision in FCT v Gloxinia Investments (Trustee)) to impose GST on sale of newly constructed residential premises. 

The amendments will ensure that the sale of newly constructed residential premises to home buyers and investors is subject to GST…”  (emphasis added) Further details at: http://assistant.treasurer.gov.au/DisplayDocs.aspx?doc=pressreleases/2011/135.htm&pageID=003&min=brs&Year=&Doc

The aim of the amendments is to ensure:
  • that the subdivision of existing residential premises (that are not new residential premises) does not result in the subdivided premises being new residential premises;
  • that an earlier "wholesale" supply of residential premises under certain arrangements is disregarded in determining whether the later supply of the premises is a supply of new residential premises; and
  • the strata titling, and grant of a strata lot lease, over newly constructed residential premises does not itself cause the premises to cease to be new residential premises. This means they are still subject to GST when sold to home buyers and investors.
These changes are proposed to have effect from 27 January 2011 (the date of the Government's announcement that it would amend the law).

This change will have effect on the day the amending Bill receives Royal Assent – presumably in the next few months.

]]><![CDATA[New Neighbourhood Disputes Resolution Act 2011 (Qld)]]>Mon, 31 Oct 2011 07:07:58 GMThttp://www.ricelegal.com.au/news/new-neighbourhood-disputes-resolution-act-2011-qldPractitioners are also reminded that the Neighbourhood Disputes Resolution Act 2011 will commence on 1 November 2011. The Act requires a party to provide a buyer, before the contract is signed, a copy of an application or order subject to the Act. This requirement will be included in the new editions of the REIQ Contracts.

General public information is available at neighbourhooddisputes.qld.gov.au. 

Parties, including agents, to property sale should turn their minds to meet this new obligation when reducing their agreement to writing.
]]><![CDATA[New law to clarify uncertainty on streaming of capital gains and franked distributions -Tax Laws Amendment (2011 Measures No.5) Bill 2011]]>Wed, 06 Jul 2011 00:43:55 GMThttp://www.ricelegal.com.au/news/new-law-to-clarify-uncertainty-on-streaming-of-capital-gains-and-franked-distributions-tax-laws-amendment-2011-measures-no5-bill-2011A new bill dealing with discretionary trusts in response to Bamford's case now has Royal Assent and will apply from the 2010-11 income year:
  • seeks to provide certainty in relation to streaming of capital gains and franked distributions (including any attached franking credits); and
  • introduces an anti-avoidance measure for distributions to exempt entities. 
Our discretionary trust deed has the necessary powers to allow trustees to stream capital gains, or franked distributions, to particular beneficiaries in the way clarified in the new law.  Ask us to help you establish or review your discretionary trust deed.

 

 ]]><![CDATA[2011-12 State Budget - Changes to various duties & grants]]>Thu, 16 Jun 2011 01:12:31 GMThttp://www.ricelegal.com.au/news/2011-12-state-budget-changes-to-various-duties-grantsAccording to the Qld Office of State Revenue, the 2011–12 State Budget  introduces a number of significant changes to Queensland’s revenue laws, including:

Queensland building boost grant

The $10,000 Queensland building boost grant (QBBG) is available to any person or corporation buying or building a new home to live in or to rent out for investment purposes. The QBBG will be available for homes less than $600,000 from 1 August 2011 to 31 January 2012.

Transfer duty home concession

The home concession for transfer duty will cease on 31 July 2011. The concession is currently available to people who are not first home buyers but purchase a home to live in as their principal place of residence. 

New transfer duty rates

The transfer duty rate structure will be revised in light of the removal of the home concession. The new structure will ensure that the transfer duty payable on a home will continue to be lower in Queensland than under the standard rate in any other mainland Australian state. The rate changes commence from 1 August 2011.

First home and first home vacant land transfer duty concession

The first home transfer duty concession and first home vacant land concession continue to apply. However, the concession rates will be revised in light of the removal of the home concession. In particular, the concession will reduce for values from $500,000 to $600,000 against duty at the standard rate. These changes commence from 1 August 2011.

Regional first home owner grant

The standard $7,000 first home owner grant will continue to apply. However, the regional first home owner grant will cease on 30 June 2011. This grant currently provides an additional $4,000 for the purchase of a new home in regional Queensland by a first home buyer.

Land tax cap

The 50% cap on the annual increase in land values for land tax purposes will continue to apply for 2011–12 land tax assessments.

Payroll tax—apprentice and trainee rebate

The payroll tax rebate of 25% of the eligible wages of apprentices and trainees has been extended to the 2011–12 financial year.

Landholder duty

Landholder duty replaces Queensland’s land rich duty from 1 July 2011. It will apply to the acquisition of 50% or more of an unlisted company or 90% or more of a listed company or listed unit trust holding land in Queensland worth $2 million or more.

Royalties—change in revenue administration

As part of the government’s move to centralise revenue collection, responsibility for mineral and petroleum royalty administration will transfer from the Department of Employment, Economic Development and Industry to OSR from 1 July 2011. Revenue collection will also change from quarterly to monthly collections in 2012, with implementation to be undertaken in consultation with the mining industry.

For further information, please contact DC Lawyers on 07 3009 5430.


]]><![CDATA[Office of State Revenue issues Public Ruling GEN006.4 Guidelines as to charitable object or an object promoting the public good ]]>Mon, 28 Mar 2011 07:28:11 GMThttp://www.ricelegal.com.au/news/office-of-state-revenue-issues-public-ruling-gen0064-guidelines-as-to-charitable-object-or-an-object-promoting-the-public-goodWhat this Ruling is about...
  1. Various state taxation statutes1 administered by the Office of State Revenue each provide exemptions, in certain specified circumstances, from the relevant state taxes for organisations which qualify as charitable institutions.
  2. The relevant statues define a charitable institution as being an institution registered under Part 11A of theTaxation Administration Act 2001 (the Administration Act). Charitable institutions can encompass a number of specific categories of organisations covering educational, religious and public benevolent activities. Also an institution may qualify if its principal object or pursuit is the fulfilling of a charitable objection or promotion of the public good (not being an object or pursuit that is leisure, recreational, social or sporting).
  3. This previous version of this Public Ruling (GEN006.3) provided guidelines on the Commissioner’s practice in relation to when an institution’s principal object or pursuit would be considered to be the fulfilling of a charitable object or the promotion of the public good.
  4. This purpose of this Public Ruling GEN006.4 is to withdraw Public Ruling GEN006.3 pending technical review

More at http://www.osr.qld.gov.au/legislation-rulings/public-rulings/general/gen006.shtml ]]>