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  1. 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...

  2. 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...

  3. 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...

  4. 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...

  5. 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...

  6. 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...

  7. ATO sets sights on 200,000 taxpayers with short-term rentals

    tax consequences before jumping into the short-term rental market space. “This type of short term rental has boomed in the last few years and many people have gone into it without thinking through the tax consequences. It might seem obvious to those of...

  8. ATO sets its sights on 22k taxpayers with high-value debts

    experiencing vulnerability, including financial abuse." The Tax Office previously issued a warning to tax agents in October last year, warning that business clients that repeatedly ignore payment reminders would be pursued with aggressive enforcement...

  9. ATO set to visit practitioners to fix troubled SMSFs

    years of outstanding SMSF annual returns,” said ATO assistant commissioner Kasey Macfarlane at the SMSF Summit in Sydney last week. “Our first response will be to work with SMSF trustees and their advisers to support them to bring their lodgements up to...

  10. ATO set to shake up communication with industry

    outages it experienced in December 2016 and February 2017, following commissioner Chris Jordan releasing some of the results last week. The report includes findings from the ATO’s internal review as well as the independent review conducted by PwC, which...

  11. ATO set to roll out new tax agent risk profiling

    and their professional associations in how we improve and utilise the tool.” The number of WREs continues to grow each year: last year 8.4 million taxpayers claimed a total of $21.3 billion. “We know this is an area where taxpayers make mistakes, given...

  12. ATO set to review 85% lodgement benchmark

    as tax practitioners continue to fall behind on lodgements in a year marked by COVID-19. A similar assurance was provided last year at the height of the pandemic. The Tax Office, however, has continued to resist calls for a blanket deferral, and has...

  13. ATO set to launch tax record application system

    90 per cent of relevant income tax, business activity statement and fringe benefits tax lodgements that were due in the last four years of operation from the date of request for an STR, and must not have $10,000 or greater in outstanding undisputed debt...

  14. ATO set to investigate leads in tax data reveal

    and Collaboration (JITSIC) is already collaborating within existing legal frameworks following the statement by Appleby last month,” he said. “We anticipate further data may be published by the ICIJ and the ATO will continue to work closely with other...

  15. ATO set to grant tax relief for Townsville flood victims

    and payment extensions to taxpayers and their agents affected by the Townsville floods after it was declared a disaster. Last week, the minister for environment and the great barrier reef, minister for science and minister for the arts, Leeanne Enoch,...

  16. ATO set to doorknock as 60% of cash-heavy businesses caught

    yesterday. This follows the ATO visiting about 400 small businesses operating with a heavy focus on cash transactions last year. The ATO’s work is part of a massive government crackdown on the black economy in Australia. In December 2016, the Turnbull...

  17. ATO set to contact SMSF clients over focus areas

    basis of poor or conflicted advice, as seen recently in the royal commission and ASIC reports 575 and 576 that were released last year. “The main point that I’d like to make here is that 95 per cent of LRBAs are for real property, and 30 per cent of...

  18. ATO set to contact clients for overdue TPAR

    in the Business Portal, Online Services for agents, and third party software,” the ATO BAS Agent Association Group said last year. [email protected]

  19. ATO set to clamp down on range of super issues

    on the life of a specified person,” said the ATO’s Kasey Macfarlane at the SMSF Adviser Technical Strategy Day in Sydney last week. “What that means is that the SMSF doesn’t actually get the full legal interest in the business real property, they just...

  20. ATO set for increased audits, debt crackdown

    A major win for the ATO in the Full Federal Court last week will boost the confidence of the commissioner in pursuing companies with related party debt, according to one mid-tier firm. Chevron’s loss of an appeal against the ATO in the Full Federal...

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