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  1. ATO increasing data exchange with international regulators

    tax regulators in different countries is rapidly increasing, with the ATO turning in around 30,000 US expats to the IRS just last year according to a US tax lawyer. Moodys Gartner director Roy Berg explained that under the Foreign Account Tax Compliance...

  2. ATO in the firing line

    “The Budget forecasts for the 2014/2015 year will see total staffing in the general government sector return to the level last recorded in 2007/2008.

  3. ATO homes in on SMSF auditors

    funds.” Ms Fleming said that the number of auditors that the ATO has been referring to ASIC has increased over the last three years. “Of the 715 auditors that we’ve reviewed, we’ve referred 96 to ASIC. I think that is a reflection of the SMSF industry...

  4. ATO holds millions in unclaimed refunds after 200k skipped lodgment

    About 200,000 taxpayers who failed to do their taxes last year would “likely” have received a refund, according to the ATO, as part of a campaign to push for on-time income tax lodgment. With the deadline of 31 October for self-preparers edging closer,...

  5. ATO hits up professionals in multibillion-dollar swoop

    affected taxpayers and their professional advisers. The 1,000-person strong Tax Avoidance Taskforce, which was established last year, has been investigating the tax arrangements of a large number of companies, including multinational corporations...

  6. ATO hits SMSF trustees with record disqualifications, fines

    trustees from overstepping the mark. The ATO disqualified a record 753 SMSF trustees and imposed $29 million in penalties last year and has flagged renewed resolve to crack down on those persistently breaking the law in 2023–24. It said that compared to...

  7. ATO hits pause on ‘firmer’ tax debt collection

    however, has confirmed that it will not implement a universal pause on all compliance work, a departure from its position last year where it halted all debt and lodgement campaigns in light of the COVID-19 pandemic. “We have not halted our debt and...

  8. ATO hints at ‘common sense’ approach to COVID test deductions

    ATO is also taking a sensible approach to record-keeping, recognising that many may not have been keeping records since July last year.” Business clients were likely to have records to substantiate their claims, but employees who had previously...

  9. ATO hands down unusual penalty

    for failure to lodge, following up outstanding cases. However, the ATO prefers to leave prosecution as a measure of last resort, and would rather engage with trustees in an effort to help them meet their obligations, the spokesperson said. Also speaking...

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

  10. ATO handed more power with new DPT laws

    to implement the new Diverted Profits Tax (DPT) will shift the power bar further towards the ATO, according to one mid-tier. Last week the federal government introduced legislation to implement the new DPT. BDO tax partner, Mark Molesworth, said the...

  11. ATO guideline gives clients ‘breathing space’

    years to repay certain corporate beneficiary entitlements and releasing an accompanying practical compliance guideline. Last week, the ATO released guideline PCG 2017/13, allowing trusts to refinance unpaid entitlements of corporate beneficiaries for an...

  12. ATO graduate program for 2025 closing soon

    and integrity. Our graduate program is available to graduates who have completed their university degree within the last 5 years or are in their final year of study. “Our program brings in some really talented people and I’m excited to meet the 2025...

  13. ATO gives taxpayers green light to lodge returns

    from previous years as rules around claims could change. “Make sure you don’t just ‘copy and paste’ your deductions from last year, because you might be missing out on everything you’re entitled to. Check out the guidance on our website about what you...

  14. ATO gives insight to 'audit of auditors' process

    In a compliance briefing last week the ATO has given insight to its process for auditing SMSF auditors, including what triggers the ATO to review SMSF auditor behaviour. The ATO expects to engage with approximately 1,000 SMSF auditors this year to...

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

  15. ATO gets defensive on big business tax compliance

    larger, than the large corporate tax gap that we released of $2.5 billion dollars,” said commissioner Chris Jordan late last year. [email protected]

  16. ATO funding to bring more taxpayers under real-time scrutiny

    this money – so they’re not reviewing necessarily what happened three or four years ago, they’re reviewing what happened last year,” he said. “Or they’re saying, ‘We read in the newspapers that you're selling this, or we saw on TikTok you might be...

  17. ATO freezes $80m worth of assets detailed in Pandora Papers

    Federal Court after he was alleged by the ATO to have engaged in tax avoidance arrangements. The Federal Court of Australia last Friday (8 October) approved the freezing of $83.2 million worth of assets either owned in part or full by property...

  18. ATO focuses on dodgy work-from-home claims

    WFH deductions, acting assistant ATO commissioner Sylvia Gallagher said, with 4.1 million taxpayer claims already exceeding last year’s figure and a huge increase on 2019, when there were just 1.4 million. Work-related expenses would continue to look...

  19. ATO focus on historical tax debts creating ‘challenging environment’, warns lawyer

    or tax liabilities that are outstanding," said Lancaster. "I think that one of the key themes that I've noticed over the last two to three years after the Covid holiday is that a lot of the historical debts are now being chased with some vigour."...

  20. ATO flashes warning over $7.2bn car expenses claims

    Over $7.2 billion in work-related car expenses claimed last year have placed the popular deduction firmly in the headlights of the ATO this tax time. According to ATO assistant commissioner Karen Foat, over 3.6 million people made a work-related car...

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