Regulation

ATO cracks down on advisers abusing tax breaks for start-ups

Advisers are exploiting the early-stage investor tax offset through dodgy circular financing arrangements, the ATO has...

12 December 2024 • By Christine Chen

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Regulation

Tax Office flags concerns with related-party financing in construction

The ATO has raised concerns about some businesses claiming excessive debt deductions and shifting profits overseas in...

11 December 2024 • By Miranda Brownlee

Business

ATO issues new ‘good governance’ checklist for NFPs

The Tax Office has reminded not-for-profit organisations to vigilantly check tax and super obligations are being met...

10 December 2024 • By Imogen Wilson

Tax

Section 109RB not a get out of jail free card: ATO

The Tax Office has urged agents to fix Division 7A mistakes swiftly instead of assuming they will be excused by the...

09 December 2024 • By Christine Chen

Regulation

GST fraudsters to face ‘full force of the law’: ATO

The Tax Office has the tools and resources to uncover even the most elaborate schemes, a deputy commissioner has warned.

06 December 2024 • By Christine Chen

Business

ATO slams wealthiest taxpayers’ lax record keeping

Governance and record-keeping gaps are driving tax errors among the Next 5,000 group, the Tax Office has said.

06 December 2024 • By Christine Chen

Tax

Investors reminded on looming capital gains withholding changes

The Tax Office has reminded foreign investors and Australian residents to be aware of upcoming changes to the foreign...

06 December 2024 • By Imogen Wilson

Technology

MYOB launches new app to support sole operators

The tech company has announced the launch of its new app, Solo by MYOB, tailored for sole operators.

04 December 2024 • By Imogen Wilson

Business

Taxpayers using ATO Community at risk of ‘plainly wrong’ advice

The Tax Office’s popular online discussion forum is facing criticism for spreading incorrect advice on issues as basic...

03 December 2024 • By Christine Chen

Tax

ATO reveals small business hit list to combat tax debt

The Tax Office hopes shedding light on its enforcement priorities will improve taxpayer compliance.

29 November 2024 • By Christine Chen

Business

ATO announces enhancements to client-agent linking

The Tax Office has made several changes to the client-to-agent linking process in response to issues raised by...

27 November 2024 • By Miranda Brownlee

Business

Government races to end illegal ATO surcharges

Urgent legislation introduced this week will aim to validate billions in historical fees charged by federal agencies...

26 November 2024 • By Christine Chen

Super

ATO primes funds, businesses for payday super rollout

Governance and error handling processes will need to be overhauled to ensure super is paid at the same time as salary...

22 November 2024 • By Christine Chen

Tax

Tax administration at ‘critical time’ as ATO intensifies debt collection: IGTO

The Inspector-General of Taxation and Taxation Ombudsman expects the number of complaints relating to debts and tax...

22 November 2024 • By Miranda Brownlee

Tax

Practitioners cautioned on ATO’s top target areas for GST

A tax specialist has outlined three of the major GST areas on the ATO’s radar based on recent discussions.

21 November 2024 • By Miranda Brownlee

Business

ATO issues reminder to tax agents as government phases out cheques

The Tax Office has told practitioners to ensure client bank details are included in every lodgment to help with the...

20 November 2024 • By Christine Chen

Tax

Looming election to offer reprieve from regulatory uncertainty

Accountants may be spared from further reforms in 2025 with the Federal Election expected to occur by May, according...

15 November 2024 • By Imogen Wilson

Business

ATO to target growing businesses in latest compliance blitz

The Tax Office will be contacting medium-sized and emerging businesses over the next month to review trusts, Division...

12 November 2024 • By Miranda Brownlee