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  1. ATO speaks on eligibility concerns for corporate clients

    line” test will replace the previous requirement that a company be “carrying on a business”. Speaking to Accountants Daily last week, Knowledge Shop tax director, Michael Carruthers said there is uncertainty over how the corporate tax rate and maximum...

  2. ATO sounds deductions warning ahead of tax time

    agents this tax time around certain problematic deduction areas as it seeks to tackle the $8.7 billion individuals tax gap. Last year, the ATO released its first ever Individuals not in business tax gap report, revealing an $8.7 billion gap caused...

  3. ATO sounds alert over new ‘alarming’ TFN scam

    “We’re seeing that instead of scammers asking for a specific amount of money, they’re requesting victims to transfer every last dollar in their bank account. “What’s most malicious is that, in some cases, these scammers are stealing money under the...

  4. ATO software bugs revived false on-hold debts, documents show

    obtained by iTnews under freedom of information laws. The documents showed the ATO first identified the bugs in July last year and resolved them months later in October after numerous meetings and briefings. As part of “remediation” efforts, ATO staff...

  5. ATO SMSF auditor referrals see slight uptick for FY23–24

    undertaken on auditors who had been in reciprocal audit arrangements and auditors who hadn’t undertaken any audits in the last five years. Auditors who were at risk of not holding appropriate professional indemnity insurance or failed to complete the...

  6. ATO small biz treatment and debt recovery practices to undergo review

    impact on them. “Overzealous early debt recovery by the ATO can be a small business killer,” Ms Carnell said. “Our research last year into unfair treatment by the ATO found serious system-wide issues impacting the small business sector, including early...

  7. ATO slips from top spot in public trust ranking

    point to 72 per cent. The AEC ranked first at 87 per cent and the Department of Employment and Workplace Relations ranked last, with only 56 per cent of people being satisfied with its services. The ATO recorded a two-point drop down to a pre-pandemic...

  8. ATO signs $323m lease for purpose-built Barton building

    owners. The ATO confirmed the cost of the 15-year lease as $323,382,646 (GST inclusive). The ATO told staff about the move last Tuesday, 13 September. The 10-level building at 21 Genge Street which the ATO has occupied since 2007 has already been put on...

  9. ATO signals good-faith approach to tax agent deferrals

    program, along with other targeted support measures for practitioners who have experienced serious hardship over the last year. The ATO on Tuesday urged tax agents to be aware of the support measures available to them coming into tax time, acknowledging...

  10. ATO signals crypto crackdown as tax time looms

    capital gains or losses.” The ATO’s crackdown follows a softer, educative approach adopted through the 2020 income year. Last year, the Tax Office contacted 100,000 taxpayers who had traded crypto assets and prompted 140,000 taxpayers to lodge returns....

  11. ATO signals crackdown on popular deduction

    Australians claimed right up to the threshold that does not require detailed records to be kept of a popular tax deduction last year, prompting a closer compliance check this tax time. The tax office said it will be paying “close attention” to claims...

  12. ATO signals crackdown on 4 ineligible work-from-home claims

    related to earning income, and cannot be claimed by taxpayers who were forced to adapt from hybrid working arrangements last year. Other ineligible expenses include those related to a child’s education, like online learning courses or laptops, as well...

  13. ATO signals ‘significant’ technology overhaul

    will look like from 2023”. The three new contracts emerge off the back of the various MNS contracts signed by the ATO last year, which included a five-part deal with Optus worth $233 million, one with IBM worth $107 million, and another with Leidos...

  14. ATO should revise work-from-home travel expense eligibility: TSA

    calls for a review of travel expense claim entitlements for those working from home follow an alert issued by the ATO last week where it warned tax agents and taxpayers that it would be on the lookout for claims containing ineligible work-related...

  15. ATO shifts penalty remission requests online to improve consistency

    tax agents in this review. Agents are reporting an increasingly poor experience with the ATO’s agent phone line over the last two years, citing inconsistent advice and a lack of suitably skilled staff. This is contributing to a general feeling of not...

  16. ATO shifting approach to wealthy Australians

    “While most wealthy Australians and their private groups do the right thing – contributing around $31 billion in income tax last financial year – some choose to avoid tax,” Mr Cranston said. “We are shifting our approach and will be visiting our largest...

  17. ATO sheds light on new SG education course

    the new superannuation guarantee obligations course have been released, with employers set to face an 80 per cent pass mark. Last month, Treasury Laws Amendment (2018 Measures No. 4) Bill 2018 received Royal Assent, giving the commissioner power to...

  18. ATO sheds light on crypto compliance focus

    quarantined. It applies for future years.” Mr O’Grady’s warnings follow the beginnings of an ATO crypto compliance crackdown last year, as the pandemic prompted a marked increase in consumer investment. The Tax Office has since allocated substantial...

  19. ATO sheds light on big 4 partner income

    internal governance measures” to ensure the appropriate amount of tax was being paid. During a Senate estimates hearing last month, Greens senator Peter Whish-Wilson had asked the ATO to reveal the aggregated income of the big four firms, with the tax...

  20. ATO settles JobKeeper ordinary income debate

    offset, and the base rate entity tax rate. The ATO was pressed into action by the Tax Practitioners Stewardship Group early last week, leading to the updated guidance on Friday, and has since been described as a “sensible outcome” by the Tax Institute’s...

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