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  1. ATO’s holiday home owner tax changes spur taxpayers to be ‘wary and proactive’

    approach to rental property tax deductions, tax advisers are warning holiday home owners to be wary of the coming changes. Last Wednesday (12 November), the ATO withdrew its existing ruling on rental property deductions (IT 2167) and unveiled a new...

  2. ATO’s growing data access ‘alarming’, says TaxTank CEO

    trust. Taxpayers should know what data is collected, how it’s used and why.” The errors occurring in the ATO's systems last year which impacted 603 taxpayers highlights the dangers of unchecked data access and automation with proper safeguards,...

  3. ATO’s good-faith approach to crypto won’t last much longer

    The ATO has maintained its good-faith approach to the accounting of cryptocurrencies, though it isn’t expected to last much longer, says a national tax and accounting network. Speaking to Accountants Daily, H&R Block director of tax communications Mark...

  4. ATO’s generosity won’t last forever

    a deep dive into those figures and found that since the ATO suspended its normal collection strategy in around April last year, Australian businesses owe the ATO more than ever. Between 1 July 2020 and 31 March 2021, only six bankruptcies and three...

    • Type: Article
    • Author: Hayden Asper, Jirsch Sutherland
    • Category: Regulation

  5. ATO’s digital drive has global dimension, says Commissioner

    extra effort or intervention from them.” “The digitalisation of the economy has been accelerated through the events of these last few years, and has brought to the forefront the importance of global collaboration on digital technology and tools.” Mr...

  6. ATO’s debts on hold campaign prompts new IGTO guidance

    tell people they owe money to the government. The report has been issued off the back of community concerns that were raised last year regarding the ATO’s approach to debt collection. The ATO issued tens of thousands of letters both to tax agents and...

  7. ATO’s debt recovery campaign hits NSW hardest 

    up filings and statutory demands popping up, sometimes also accompanied by a DPN,” said Mr Archer. “While the ATO’s efforts last year brought in $6-7 billion of payments or debts under arrangement, that’s only a third of the additional pandemic debt,...

  8. ATO’s adviser strategy zeroes in on late-paying partners

    practitioner. The ATO uses risk modelling to assess compliance with the guidelines. The adviser strategy was introduced last year and applies to a range of advisers from tax and BAS agents, to legal and insolvency practitioners, financial advisers, and...

  9. ATO’s ‘hands are tied’ on cash flow boost, JobKeeper anomaly: Tax Institute

    was derived or the supply was made. ‘A missed opportunity’ The Treasury was confronted on the issue at a Senate inquiry last week but responded by noting that the design of the program was a matter for the government. The department also confirmed that...

  10. ATO, tax agent COVID-19 scams on the rise, warns mid-tier

    Mr Fittler said. “It’s an emotional time for many business owners who are already struggling to keep things afloat; the last thing they need is to unknowingly hand over sensitive financial information to someone purporting to be from the ATO. “The...

  11. ATO, mid-tier flag compliance risks in clients' claims

    economy by the ATO, one mid-tier manager has urged accountants to dig a little deeper into their clients’ activities. Last week the ATO updated its guidance on the tax obligations of the sharing economy, reminding its participants that they must declare...

  12. 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...

  13. 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...

  14. 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...

  15. 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...

  16. 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...

  17. 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...

  18. 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...

  19. 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...

  20. 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...

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