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  1. ATO reminds tax agents of new penalties approach

    The ATO has changed the way it applies penalty relief, effective 1 July this year. As advised last financial year, the ATO decided that, from 1 July 2018, it will not apply penalty to tax returns and activity statements where eligible clients have made...

  2. ATO reminds on rental property ‘hot issue’

    residential rental property that they will not be able to claim deductions for travel after new rules were introduced late last year. In November 2017, the government introduced new rules around tax deductions for travel expenses associated with...

  3. ATO releases record $573m in super on compassionate grounds

    grounds, it has also received a landmark amount in lost or unclaimed superannuation with an extra $2.1 billion added since last financial year. Deputy commissioner Emma Rosenzweig said it was a simple process to determine whether any of the lost super...

  4. ATO releases new guidelines on tax uncertainty for corporate clients

    the distribution statement to shareholders on franked dividends which is very similar to what the ATO did around this time last year with all the uncertainty as well and I guess it does provide a bit of comfort that if you have to change franking...

  5. ATO releases initial JobKeeper guidance

    business portal between 4 May and 31 May 2020. While the JobKeeper payments began on 30 March, legislation was only passed last week, and the ATO’s guidance now comes in the second fortnight period running from 13 April to 26 April. As such, the ATO...

  6. ATO releases draft rulings on Payday Super

    period." Tax professionals and other stakeholders have until 1 May to provide their feedback on each of the four rulings. Last month, ATO deputy commissioner Emma Rosenzweig said the move to Payday Super will help ensure employees receive their super...

  7. ATO releases decision impact statement on anti-avoidance decision

    Holding Pty Ltd v Commissioner of Taxation decision, which was handed down by the Federal Court of Australia in March last year. In its decision, the Federal Court determined that Part IVA did not apply to a scheme where the head of a tax consolidated...

  8. ATO reiterates tax system incentives

    the 100 businesses that have approached the ATO, with around $270 million already repaid. “Similarly, and as I mentioned last year in relation to the newer stimulus measures, please access them and use the proceeds to invest in your business. But also...

  9. ATO records jump in prosecutions, debt

    The tax office’s annual report shows there was an increase in prosecutions last financial year for individuals and companies as well as a spike in small business debts, while debt collection activities broadly took a hit during extended digital...

  10. ATO records ‘biggest 1 July ever’ with 640% spike

    two weeks of tax time has now seen 1.7 million individual tax returns lodged, a 12 per cent increase on the same period last year. The average refund amount this year stands at $2,365. “More than $1 billion will have hit 457,000 taxpayers’ bank...

  11. ATO reaps record $6.4bn from large corporates

    of tax, and has helped to collect, on average, an additional $2 billion each year from public and multinational businesses. Last financial year’s result is three times more than this.” Around $4.4 billion of last year’s result was due to the ATO’s...

  12. ATO real-time push exposes ‘danger’ pattern

    to in real-time, are setting themselves up for significant trouble under the ATO’s planned real-time reporting push. Late last year, the ATO suggested that super funds may soon be required to report things such as pension commencements and commutations...

  13. ATO reaches settlement post-crash, releases report findings

    tax professionals, as the Commissioner confirms a settlement has been reached with Hewlett Packard Enterprises In December last year, the ATO’s digital systems experienced what Commissioner Chris Jordan named the “worst unplanned system outage in recent...

  14. ATO rates itself as a ‘good’ regulator despite declines in key areas

    community feedback, and identifying where it can improve as part of the “Better as Usual” work program announced in August last year.

  15. ATO ramps up landlord crackdown using rental bond data

    from state and territory regulators to expand its data-matching program, according to a government gazette notice last week. The ATO said the data would be collected twice a year between 2023–24 and 2025–26 and be used to identify non-compliant...

  16. ATO raises concerns over $200m in illegal SMSF loans

    each year in the form of prohibited loans, ATO assistant commissioner Justin Micael has warned. The ATO previously outlined last month that $635 million had been withdrawn from SMSFs illegally over a two year period. However, this estimate does not...

  17. ATO queried over Top 100 engagement approach

    all Top 100 taxpayers, according to newly released guidance, even if they manage to secure a high assurance score. The ATO last week released guidance on its approach to monitoring and maintenance among its Top 100 Justified Trust Program, which will...

  18. ATO puts developments on hold until systems stabilise

    Commissioner Chris Jordan AO reflected on the year past, admitting that they only partly delivered their commitments from last year’s convention. “As promised to you last year, we set about fixing the major irritants with the portal and Client...

  19. ATO puts 50,000 directors on notice

    PAYG to now include unpaid GST, superannuation, wine equalisation tax and luxury car tax. “The notices are being sent to the last known address of the company’s directors as disclosed on a search of the records of ASIC,” he said. “If the director has...

  20. ATO pursues former EY partner for alleged tax exploitation scheme

    will continue to take serious action against anyone who attempts to exploit or undermine the integrity of the tax system.” Last month in response to the PwC tax secrets scandal the government filed draft legislation that includes substantially increased...

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