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  1. Tax compliance blows out to $50bn, distrust grows

    suggests it costs $50 billion a year to comply with as a result of needless complexity, and mounting distrust. Released last week, the Case for Change is a 287-page report that points to the most burdensome areas of Australia’s tax system, and how each...

  2. Tax Commissioner wants to turn black economy to ‘lighter shade of grey’

    attention. “People do sort of pay attention to it, it does have an impact,” he said. “I was only talking to someone last night who was saying that the local baker that they go to has gone from a cash-only sign to EFTPOS now.”

  3. Tax Commissioner threatened with contempt as JobKeeper stoush escalates

    senator Rex Patrick urged the Senate to commence contempt proceedings against Commissioner of Taxation, Chris Jordan, last week for failing to comply with a final Senate order that required him to publish details related to large companies that received...

  4. Tax chief refuses to rule out third term

    not seek a third term but the ATO declined to confirm this in response to questions in the wake of an interview with him last month. Repeated requests failed to clarify the matter although the ATO said, in full: “The Commissioner is focused on his...

  5. Tax changes ‘damaging the future Australian economy’: Tim Wilson

    to feed the business community's risk appetite as the nation moves to “build a better future together” in the age of AI. Last Friday (19 June), legal AI platform JurisTechne hosted shadow treasurer Tim Wilson and NSW shadow minister for science and...

  6. Tax audit claim stats all accountants in Australia will want to know

    financial year. This has placed BAS Audits and Reviews into the number one position of all audit categories over the last 12 months. This is interesting because prior to the 2020-2021 financial year, BAS Audits and Reviews had remained steady since 2018...

    • Type: Article
    • Author: Rod Spicer & Roman Kaczynski
    • Category: Tax

  7. Tax assessment disputes require ‘satisfactory evidence’: AAT

    than assert that it is wrong, says the Administrative Appeals Tribunal in a recent hearing. Appearing before the tribunal last week, property developer Jason Behrndt objected to the ATO’s assessment of $470,000 in tax owed for the 2009, 2011, 2012 and...

  8. Tax and BAS agents could be hit with police checks

    a police check — that's another credibility item. “Watch this space, I was in a meeting with the chair of the TPB in the last week and they are certainly opening up on some of this.” [email protected]

  9. Tax an election hot topic, says accounting body

    licence to be bold when it comes to tax reform. A tax system built on simplicity and equity should be our collective goal.” Last week, the Tax Institute said the next 12 months is “going to be a big year in tax”. The Tax Institute’s senior tax counsel,...

  10. Tax agents, auditors targeted in SMSF non-lodgment crackdown

    be dealing with around 39,000 SMSFs in relation to non-lodgment issues. The ATO undertook a review of persistent non-lodgers last year, identifying around 49,000 funds who had two or more years of outstanding returns. “By July this year, we had worked...

  11. Tax agents smash deadline despite last-minute scramble

    The ATO revealed lodgement figures for SMSF annual returns were ahead of market expectations, after one of the busiest and most complex deadlines for high-net worth clients since the Howard and Costello era. ATO assistant commissioner Tara McLachlan...

  12. Tax agents raise concerns about ATO’s ‘disastrous’ rental income letters

    what ramifications communications like this can have, especially when they are completely wrong. The ATO issued a warning last year that it would be expanding its data-matching compliance program for rental properties as part of a crackdown on taxpayers...

  13. Tax agents hit with ‘petty’ ATO list of old debts as little as 4c

    off, say frustrated tax agents alarmed at the amount of extra work it has created. In a letter to some 28,000 tax agents last week, the ATO said it would offset clients’ tax refunds or credits against debts on hold that had been written off as...

  14. Tax agents found to be misusing auditor numbers

    superannuation partner with accounting and advisory network BDO. Addressing CPA Australia’s SMSF conference in Sydney last week, Ms Schaefer said 50 per cent of the auditors reported being supplied with inaccurate information about the audits they were...

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

  15. Tax agents defy industry gloom

    is all despite an estimated 500,000 taxpayers being removed from the tax system since the increase in the tax-free threshold last year, the accounting network said. Regional director of H&R Block, Mr Frank Brass, said “There is no doubt the message is...

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

  16. Tax agents circled in ATO audit swoop

    also identified a further 230 SMSFs that the ATO is interested in, Ms Fleming told delegates at the SMSF Summit in Adelaide. Last year, the ATO referred five tax agents to the Tax Practitioners’ Board for this practice, she said. “We will of course take...

  17. Tax agents called on to correct investors, salary earners' slip-ups

    nexus of the claims; and claiming only work-related expenses and correctly apportioning claims between private and work use. Last week, the ATO released its Individuals not in business tax gap report, finding that 72 per cent of the 868 cases in its...

  18. Tax agents are not ‘abusers’ of the tax system, says association

    work-related expenses, arguing that practitioners are doing their best to navigate an increasingly complex tax system. Last week, TPB chair Ian Klug revealed plans to target 2,000 “highest risk practitioners”, after its analysis showed that they were...

  19. Tax agents and clients disagree over business practices: FBT review

    compliance costs, despite employers suggesting the contrary, preliminary results from the Board of Taxation’s review show. Last year, the Board of Taxation commenced its review of the compliance costs associated with fringe benefits tax, with an aim of...

  20. Tax agent, taxpayers guilty of tax crimes in second half of 2018

    The Tax Office’s investigations around serious tax crimes in the second half of last year found 17 individuals guilty of fraud or tax evasion. Between July and December 2018, the ATO’s tax crime investigations identified 17 individuals, including a...

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