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  1. ATO issues response on NALI decision by AAT

    [2023] AATA 2330, will not have any implications for its advice and guidance. The ATO issued a decision impact statement last week on the decision which determined whether income derived by an SMSF was non-arm’s length income. The case involved the...

  2. ATO issues reminder to tax agents as government phases out cheques

    30 June 2028 and cease being accepted on 30 September 2029. The ministers said cheque use had fallen by 90 per cent in the last decade and that the government would help customers and businesses still using them to switch to other payment methods. The...

  3. ATO issues reminder on record-keeping requirements for taxpayers

    expenses are the largest category of deductions the ATO sees for individuals each year, with more than 8 million claims last year,” he said. “Keeping good records can reduce the cost of managing your tax affairs and ensures you can claim all expenses...

  4. ATO issues private ruling on member benefit issue

    private ruling examining the issue of whether a benefit requested shortly before death is a member benefit or death benefit. Last week the ATO published a private ruling it issued regarding the payment of a benefit from an SMSF which was requested...

  5. ATO issues new taxpayer alert

    After firing warning shots last year, the tax office has this week issued a blanket taxpayer alert about structured arrangements. The ATO released TA2018/1, which you can access in full here, to indicate to taxpayers and professionals that it is...

  6. ATO issues interim decision impact statement on meal expenses case

    work-related travel expenses and record keeping until the appeals process for the recent Shaw decision is finalised. The ATO last week published an interim decision impact statement on the decision, Shaw and Commissioner of Taxation [2025] ARTA 224,...

  7. ATO issues further guidance on non-commercial LRBAs

    on factors for consideration when determining whether the terms of a related-party loan are on a commercial basis. Late last week, the ATO released ATOID 2014/39 and ATOID 2014/40, which set out the ATO’s view that the non-arm’s length income (NALI)...

    • Type: Article
    • Author: Katarina Taurian
    • Category: Regulation

  8. ATO issues further advice to NFPs on self-review return

    for lodging the self-review return through ATO's phone service and other details about its compliance approach. In an update last week, the ATO said while not-for-profits (NFPs) are now starting to lodge their self-review returns and update the details...

  9. ATO issues fresh email scam warning as fraud spikes

    victim to a dodgy email, but similar scams involving fake emails from ASIC almost fooled some SMSF and advice professionals last year. This latest scam alert follows email scams from March to September 2017, and a phone scam alert in December last year....

  10. ATO issues fresh bitcoin warnings as scams surface

    office had identified fraudsters demanding bitcoin or other cryptocurrencies as a form of payment for fake tax debts late last year. “We became aware of scammers seeking payment in bitcoin last year. So far we have seen over $50,000 paid in bitcoin to...

  11. ATO issues FBT reminder as March deadline looms

    said. On 31 March, the FBT exemption for plug-in hybrid electric vehicles (PHEVs) will also end, meaning this might be the last year that employers could claim the exemption. However, an employer can continue to apply the exemption if the PHEV was used...

  12. ATO issues draft determination on dodgy circular financing schemes

    following the emergence of a tax avoidance scheme involving the early-stage investor tax offset. In a taxpayer alert issued last year, the ATO explained that the scheme promoted involves an investment opportunity in a start-up company. The scheme...

  13. ATO issues call-out for tax dobbers

    economy activities as its tip-off hotline continues to ring hot. Since launching its new Tax Integrity Centre (TIC) in July last year, the ATO has now received 27,000 tip-offs, with a record-breaking 15,000 tip-offs received in the first quarter of...

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

  14. ATO issues $23m in assessments after latest ESST raids

    suspected of using, manufacturing, or supplying electronic sales suppression tools (ESSTs) to avoid paying tax. Over the last two weeks, ATO officers led raids on 17 premises associated with three businesses suspected of supplying or manufacturing ESSTs...

  15. ATO issues ‘last warning’ on overdue TPARs

    letters about their overdue TPAR and haven’t lodged their 2023 or prior year TPAR,” said the ATO in a recent update. “Last year we issued approximately $18m in penalties to more than 11,000 businesses,” it said. The ATO reminded tax professionals that...

  16. ATO investment strategy guidance ‘unnecessary’: SUPERCentral

    trustees what they are already telling themselves to do, argues SUPERCentral. The guidance, which was released by the ATO last week, advised SMSF trustees to set out why and how they’ve chosen to invest their retirement benefits in order to meet their...

    • Type: Article
    • Author: Adrian Flores
    • Category: Super

  17. ATO investigation uncovers ‘serious’ cases of SAN misuse

    of SMSF auditor numbers, and has also identified some more serious cases involving forged audit reports. In March and April last year, the ATO sent a list to approximately 5,000 auditors with funds that had reported them as the auditor on the 2017 SMSF...

  18. ATO interest charges: matters of interest

    ATO that is not in dispute. As of 30 June 2024, collectible debt was $52.8 billion, and has increased substantially in the last few years. The policy change also sends a message that those who do not pay their tax on time should not gain advantage over...

  19. ATO interest charges soar to highest level since GFC

    quarter rises to 11.15 per cent while the SIC annual rate goes up to 7.15 per cent. The second quarter of 2012 was the last time that either rate was higher. The ATO said GIC was applied to late payment of most taxes including income tax, FBT, GST and...

  20. ATO interest charges hit highest level in a decade 

    quarter of 2012 when the GIC annual rate was 10.62 per cent and the SIC annual rate was 6.62 per cent. For the same quarter last year, the rates only increased by 0.03 per cent, with the GIC rate at 7.07 per cent and the SIC rate at 3.07 per cent. The...

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