Regulation

TPB, ATO quizzed on whether PwC ‘too big to fail’

Audit concentration among the Big 4 makes the sector unmanageable, Greens senator claims.

27 September 2023 • By Philip King

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Business

Business activity hits 7-year low, key indicators tumble

The latest data from CreditorWatch predicts rising insolvency rates over the next year, with food and beverage...

14 September 2023 • By Philip King

Tax

ATO interest charges soar to highest level since GFC

The general and shortfall rates for late tax payments rise for the eighth quarter in a row.

14 September 2023 • By Philip King

Regulation

Tassie aged care operator forced to backpay staff $6.9m

More than 1,700 staff were short-changed over a seven-year period, with some now entitled to $100,000 or more.

11 September 2023 • By Philip King

Tax

ATO strikes without warning in harder line on debt

Enforcement action without warning is an unmistakeable sign that the ATO has adopted a tougher line on debt recovery,...

08 September 2023 • By Philip King

Regulation

ATO takes gloves off to chase down $4bn in long-term debt

Tighter payment plans and an end to interest and penalty remissions are just part of a tougher stance, a deputy...

08 September 2023 • By Christine Chen

Tax

‘ATO must build analytics, security onto strong digital base’

Tax 3.0 requires intelligent design and more investment, the Tax Commissioner says.

08 September 2023 • By Miranda Brownlee, Philip King

Business

Observers praise RBA pause as key indicators realign

Fears of a wage-price spiral have receded, spending has slowed and the bank needs time to assess, commentators say.

06 September 2023 • By Philip King

Tax

ATO escalates warnings over dodgy rental claims

Interest on property loans will come in for special attention this year while additional data matching systems will...

05 September 2023 • By Philip King

Tax

Small business CGT concessions ‘one-way ticket to an ATO review’

The ATO is consistently picking up errors with small business CGT claims due to the complexity of the rules, warns BDO.

05 September 2023 • By Miranda Brownlee

Regulation

ATO hits SMSF trustees with record disqualifications, fines

The sanctions come as the Tax Office intensifies efforts to stop trustees from overstepping the mark.

01 September 2023 • By Christine Chen

Regulation

Federal Court dismisses ASIC’s case against liquidator

A Gold Coast liquidator has won a four-year legal battle against the regulator with the Federal Court dismissing...

23 August 2023 • By Miranda Brownlee

Tax

Court action ‘now ATO’s first resort for non-compliant sole traders’

Thousands of sole traders unwittingly put their family assets at risk, warns Worrells principal.

22 August 2023 • By Philip King

Tax

File contractor payments on time or raise a red flag, ATO warns

The Tax Office says it will penalise failure to meet the TPAR deadline and use data from the system to expose the...

22 August 2023 • By Philip King

Super

ATO urged to postpone tax determination on NALI and CGT

The ATO must delay its tax determination concerning non-arm’s length income and capital gains tax until the non-arm’s...

07 August 2023 • By Miranda Brownlee

Regulation

AFP ‘had insufficient information from ATO to pursue PwC’ in 2018

Sample documents were supplied by the Tax Office five years ago but it was only in May that Treasury reported a crime...

04 August 2023 • By Philip King

Tax

Average ATO refund tumbles $430 compared to last July

Fewer taxpayers have raced to file an early return and the total paid out in refunds is already down by $1.7 billion.

03 August 2023 • By Philip King

Tax

ATO to triple credit referrals in ‘stronger actions’ on debt

The Tax Office plans to send out 50,000 intent-to-disclose notices this financial year as it chases billions owing.

31 July 2023 • By Philip King