A recent decision of the Queensland Supreme Court has highlighted the complexity in determining the duty payable on a commercial transaction and the consequences that can follow where the parties disagree on the duty liability.
From 1 July 2019, road freight businesses will have to report payments made to contractors to the ATO. This comes as a result of Federal Parliament passing the Treasury Laws Amendment (Black Economy Taskforce Measures No 2) Act on 15 November 2018.
The High Court has found an employee of a bonded warehouse operator personally liable for the equivalent of the customs duty that would have been paid on stolen cigarettes. The decision illustrates that liability in respect of dutiable goods is not limited to the warehouse licence holder and may extend to directors, officers and employees of the licence holder.