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  1. ATO, banks revive legacy debts and return to court action

    latest Credit Insights Report from Alares. Its report also showed the big four banks had ramped up their court recoveries last month with high interest rates impacting the serviceability of debt. Jirsch Sutherland partner Malcolm Howell said the ATO was...

  2. ATO, bank debt crusade triggers 133% jump in court wind-ups

    Collectable debt had surged by 89 per cent over the past four years, prompting the ATO to shift to a hardline approach last year. In November, deputy commissioner Vivek Chaudhary said there “would be exits” as the Tax Office “re-established the culture...

  3. ATO zeroes in on work expenses, crypto investments

    seen a big shift in work-related expenses as one in three Aussies had claimed working-from-home expenses in their tax return last year. Mr Loh said the ATO was expecting taxpayers to make reasonable claims for both home office and travel expenses. “Some...

  4. ATO yet to analyse profit-making companies on JobKeeper

    “From the ATO side, the short answer is no,” said ATO second commissioner Jeremy Hirschhorn at a parliamentary hearing last Thursday. “Profit is an accounting concept reported through the ASIC financial statements. We are concerned with the turnover...

  5. ATO wind-up applications plunge to ‘lowest level since 2014’

    In contrast, the ATO filed an average of 155 wind-up applications per month in the February to April period for the last two financial years, and an average of 142 applications per month for the three-month period dating back to 2014. The latest...

  6. ATO will take softly-softly approach to policing director IDs

    timeframe to apply could request an extension of time via a form available on abrs.gov.au. Figures supplied by the ATO last month showed hundreds of thousands of directors – including many who were directors of corporate SMSF trustees – had yet to go...

  7. ATO will scrutinise fine print in employee v contractor issues

    and practical compliance guideline, released on Wednesday, comes after two landmark employment law rulings by the High Court last year (FMMEU v Personnel Contracting and ZG v Jamsek). Bennett Law employment lawyer Nicholas Parkinson said the ATO’s...

  8. ATO will add security layer to agent linking

    tell us anything, it's that nobody can afford to be complacent,” he told the IPA National Congress at Surfers Paradise last week. “Operating in an increasingly digital environment means that we have to consider how we safeguard our systems from...

  9. ATO whistleblower prosecution to have ‘chilling effect’

    “reasonably necessary” prior conduct, according to Justices David Lovell, Samuel Doyle and Sophie David in their judgment last week. Senior lawyer Kieran Pender said Boyle’s continued prosecution was not in the public interest and had a “chilling...

  10. ATO warns taxpayers on ‘double dipping’ with WFH deductions

    or a diary or whatever they use to record that on,” said Thomson. “The second part we want to remind people about is that last year we increased the rate but also the scope of the deductions that were included in the fixed rate method to include things...

  11. ATO warns SMSFs on franking credits scheme

    against claiming franking credit benefits by channelling dividends from shares in private companies through SMSFs. The ATO last week issued taxpayer alert TA 2015/1 warning SMSF members against the practice. According to the ATO, this occurs when a...

    • Type: Article
    • Author: Staff Reporter
    • Category: Super

  12. ATO warns SMSF on sole purpose test for property investment

    director of the SMSF auditors segment. In a presentation to the SMSF Australian Auditors Association Conference in Sydney last week, Paul Delahunty said the rules around property investment for SMSF are clear-cut and there are three key considerations...

  13. ATO warns on poor asset records causing SMSF breaches

    personal debts because they were not recorded correctly. Speaking at the SMSF Association’s national conference in Adelaide last week, ATO assistant commissioner Kasey Macfarlane said it is important fund assets are clearly distinguished as such, and...

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Super

  14. ATO warns of raids on tax agents

    are setting out to cheat the system and where records may be destroyed if we give notice,” he said. The tax office announced last week that phoenix activity costs the Australian economy up to $3.2 billion each year, with honest businesses losing almost...

    • Type: Article
    • Author: Staff Reporter
    • Category: Tax

  15. ATO warns of new TFN robocall scam

    or fraudulent activity and that there are several allegations against them. They will then be asked to provide the last four digits of their TFN, address, date of birth, name of their bank account, and the approximate amount of money in the account/s....

  16. ATO warns of crypto crackdown

    ATO is using data matching to make sure nothing slips through the net, acting assistant commissioner Sylvia Gallagher said last week. With more than half a million Aussies buying, selling or exchanging digital coins, she said: “If you’re not already...

  17. ATO warns accountants they face $500m shortfall

    according to ATO second commissioner Geoff Leeper. Speaking at the Accountants Technology Showcase Australia in Melbourne last week, Mr Leeper warned accountants to move away from offering tax compliance services and concentrate on offering their...

    • Type: Article
    • Author: Michael Masterman
    • Category: Regulation

  18. ATO waives Part 7 penalty amid SG amnesty hold up

    disclose historical underpayment of the superannuation guarantee, despite the proposed amnesty not yet law. On 24 May last year, the government announced a superannuation guarantee (SG) amnesty which would give employers an opportunity to rectify past...

  19. ATO vows to fix systems for tax time as downtime looms

    next three months, including over Easter weekend. This comes after the ATO commissioner Chris Jordan AO released a statement last month promising that all portals and systems will be running smoothly for tax time. “I can assure the community that we are...

  20. ATO VIPER taskforce arrests 14 people in latest illicit tobacco blitz

    been arrested following the uncovering of $4.8 million worth of illicit tobacco during an ATO VIPER Taskforce investigation. Last week, detectives from the VIPER taskforce and Victorian Police conducted warrants at 12 tobacco stores in Melbourne,...

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