Business

Coalition will oppose increase to sophisticated investor thresholds: Senator...

Shadow finance minister Jane Hume has expressed concern over Labor's proposed policies, which she believes will...

08 May 2024 • By Sinead Reilly

more from tag

Tax

Scrutinise trust deeds to avoid ‘unexpected outcomes’, ATO urges

The Tax Office has said it often sees trustees failing to follow deeds or not checking family trust elections.

06 May 2024 • By Christine Chen

Tax

ATO to crack down on rental income, WFH deductions this tax time

Taxpayers who “copy and paste” work-related claims each year or try to offset their rental income by inflating...

06 May 2024 • By Christine Chen

Tax

National charity regulator concerned about misuse of complex corporate...

The misuse of complex structures is an emerging focus for the Australian Charities and Not-for-profits Commission in...

03 May 2024 • By Sue Woodward, ACNC

Tax

ATO cautions tax agents on ‘cut and paste’ lodgment deferrals

Requests for lodgment deferrals that are generic or limited in information are likely to be denied, the ATO has warned...

02 May 2024 • By Miranda Brownlee

Business

Accounting bodies slam ATO’s use of client linking to tackle fraud woes

IGTO report shows the ATO should have tried less burdensome anti-fraud measures before putting taxpayers and their...

01 May 2024 • By Christine Chen

Tax

ATO expands data-matching program for crypto assets

The ATO plans to collect cryptocurrency data for up to 1 million individuals as part of new compliance activities.

01 May 2024 • By Miranda Brownlee

Tax

ATO’s systems vulnerable to tax fraud, IGTO report cautions

The IGTO has found the ATO’s controls for preventing fraud inadequate, with fraudsters managing to lodge fraudulent...

30 April 2024 • By Miranda Brownlee

Business

ATO reports spike in errors with clearance certificates

The Tax Office is seeing mistakes being made with applications for clearance certificates for property purchases.

29 April 2024 • By Miranda Brownlee

Super

ATO issues alert to SMSFs on crypto scams and losses

The Tax Office is seeing instances of funds reporting losses with crypto investments due to scams and collapsed...

25 April 2024 • By Miranda Brownlee

Tax

AAT upholds ATO decision on self-education expenses

The tribunal has dismissed an appeal relating to self-education expenses claimed as deductions by a dental technician.

25 April 2024 • By Miranda Brownlee

Regulation

Government shirks big 4, senator calls for government consulting revamp

Senator Barbara Pocock has called for reforms to government consulting engagements as the Department of Finance...

24 April 2024 • By Miranda Brownlee

Regulation

ATO ‘underestimated’ impact of Collins licensing decision: Hirschhorn

The second commissioner told the Inquiry into Consulting he regrets not escalating the PwC matter more rapidly given...

23 April 2024 • By Miranda Brownlee

Business

ATO takes ‘stringent’ stance on GIC remissions as part of debt clampdown

Tax agents have been told to readjust their expectations around payment plans and penalty remissions as the ATO...

22 April 2024 • By Miranda Brownlee

Business

ATO compliance hotspots for tax time 2024

Tax professionals and their clients should pay careful attention to areas such as record keeping, rental property...

19 April 2024 • By Mark Chapman, H&R Block

Business

ATO updates client-agent linking system to prevent ‘inadvertent errors’

Accounting associations have welcomed the changes but stress that much more must be done to address key issues in the...

19 April 2024 • By Miranda Brownlee

Tax

ATO explores ‘digitised guidance’ to combat Division 7A issues

Embedding ATO advice and guidance into software solutions will detect and correct errors with Division 7A ahead of...

18 April 2024 • By Miranda Brownlee

Tax

ATO flags trust administration changes ahead of 1 July

The ATO has provided details on tax return changes for the 2023–24 year as part of the modernising trust...

15 April 2024 • By Miranda Brownlee