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  1. ATO discriminates against professionals and medical practitioners

    doctors, financial planners and accountants are being targeted over how they manage their taxation affairs. The ATO last week released Draft Practical Compliance Guideline PCG 2021/D2 in relation to the allocation of profits for professional firms and...

    • Type: Article
    • Author: David Montani, Nexia Australia
    • Category: Regulation

  2. ATO disclosure deadline fast approaching

    of special terms offered under the initiative. Under these terms, taxpayers making disclosures will only be assessed for the last four years, be liable for a maximum shortfall penalty of 10 per cent, and will not be referred for criminal investigation....

  3. ATO details myGovID implementation roadmap

    a special classification of people and we are collecting some extra evidence for that classification. “They will be the last group that we will onboard, so there’s no point in them trying to get a myGovID today because they can’t, and there’s no point...

  4. ATO deputy commissioner resigns

    granted. This follows an eight-month joint investigation between the AFP and the ATO which resulted in multiple arrests last month relating to a syndicate responsible for a $165 million tax fraud against the Australian government. One of the arrested...

  5. ATO defends tax agents compliance campaign

    to stamp out tax agents who were contributing to the work-related expenses gap. “It's been a particular problem over the last year and I think all agents heard the commissioner make comments about his concerns that we are seeing similar errors in the...

  6. ATO defends stance on draft 100A

    It said 100A was an anti-avoidance provision and its application since 2014 was consistent with the draft ruling published last month. The ATO assistant commissioner in the Office of Chief Tax Counsel, Justin Dearness, said there was no specific...

  7. ATO defends position as ‘recklessness, fraud’ surface with popular deductions

    but commissioner Chris Jordan said surveillance shows professionals are contributing to illegitimate claims. Late last year, Mr Jordan said about 900 audits showed tax agents are contributing to Australia’s individual tax gap through “carelessness,...

  8. ATO defends ‘front door’ program

    to interview certain trustees, to ensure the integrity of the sector is upheld. Speaking at the SMSF Summit in Melbourne last week, ATO assistant commissioner Dana Fleming said the agency’s “secure the front door” program, a compliance program used at...

  9. ATO debt collection tactics to attract scrutiny

    up and say I’ve got this complaint, we get to build a picture of these complaints and use that to try and get change.” The last review of the ATO’s debt collection system took place in 2015 following a number of concerns raised by individuals, small...

    • Type: Article
    • Author: Maja Garaca Djurdjevic
    • Category: Tax

  10. ATO data reveals tax avoidance red flags

    jurisdictions, such as the one million accounts held by US and UK tax residents holding almost A$100 billion.” In August last year, the ATO put out a warning to taxpayers to come clean with foreign income, noting that its CRS participation had given it...

  11. ATO cracks down on property investors as errors creep up

    investors this tax time after it found rental income and deduction errors in more than 70 per cent of tax returns audited last year. The ATO on Tuesday said that Australia’s 1.8 million rental property owners claimed a total of $38 billion in deductions...

  12. ATO crackdown focuses on rental properties, work claims, CGT

    relating to producing your rental income.” On work from home expenses, the ATO abolished the shortcut method of claiming last July and introduced a fixed-rate method with a 67c-an-hour deduction in a revised regime with more stringent record-keeping...

  13. ATO court case leaves taxpayers in ‘awkward spot’

    Court to grant special leave to appeal leaves taxpayers in an “awkward spot” when it comes to relying on ATO communications. Last week, the High Court refused the taxpayer’s application for special leave to appeal against the decision of the Full...

  14. ATO continues debt recovery actions against GST fraudsters

    criminal organisations, and youth crime gangs," Heferen said. The most recent arrest was the arrest of a Victorian woman last week, who was sentenced to 4 years of imprisonment, with a non-parole period of 2 years and 4 months, after she claimed nearly...

  15. ATO considers non-compliance notices for lapsed lodgers

    up over 10 per cent of the SMSF population, totalling 71,000 funds. “They represent $44 billion of super according to their last return lodged, that we don’t know what is happening with,” she said. She added that the reasons for lapsed lodgement...

  16. ATO confirms update to foreign ownership register

    the Commissioner of Taxation would be responsible for the register after he was appointed by the assistant treasurer late last year. His role would be to administer the Register of Foreign Ownership of Australian Assets and maintain accurate records of...

  17. ATO confirms changes to ‘bugbear’ reporting issue

    has heard that the need for agents to get a declaration each time they report on behalf of an employer is a “bugbear”. “Only last week, we had the commissioner sign off on a more streamline process there. It involves an STP engagement authority, where...

  18. ATO confirms ‘practical solution’ in the works for deceased information access

    practitioners from accessing information relating to deceased estates on online services for agents will soon be resolved. Last month, Accountants Daily revealed that a working group had been formed by the ATO to solve the issue of tax practitioners...

  19. ATO concessions cut cost of employee share plans, says HLB Mann Judd

    resident, although other entities in the group can be foreign. Additionally, the employer must be incorporated within the last 10 years, and this incorporation requirement includes all other companies in the group. A further requirement is that the...

  20. ATO compliance hotspots for tax time 2024

    Expect them to focus in particular on: Deductions for working from home expenses. The way these could be claimed changed last year, with the introduction of a new 67 cents per hour fixed rate and enhanced substantiation requirements. We expect the ATO...

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