Technology

Payroll operators to fortify security after 60% hit by attacks

ADP research shows data security has become the most important issue over the past 12 months.

21 March 2023 • By Josh Needs

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Regulation

ATO interest charges hit highest level in a decade

The general interest charge rate and the shortfall interest charge rate both rise again for the April to June quarter.

09 March 2023 • By Josh Needs

Regulation

ACCC sweep uncovers dubious green claims by one in two businesses

An online review by the regulator finds many fail to make “legitimate changes to practices and procedures”.

03 March 2023 • By Josh Needs

Tax

ATO tightens GST assurance on top 1,000 companies

An analytical tool cross-checks BAS against audit outcomes to ensure the correct amount is paid.

02 March 2023 • By Josh Needs

Business

ATO’s debt recovery campaign hits NSW hardest

Specialists say the worst is yet to come with two-thirds of pandemic debt still outstanding.

28 February 2023 • By Josh Needs

Super

ATO releases record $573m in super on compassionate grounds

The bulk of applicants needed medical treatment for acute, chronic or life-threatening illnesses, the Tax Office says.

28 February 2023 • By Josh Needs

Regulation

ASIC prosecutes 81 for failing to assist liquidators

The regulator is “closely monitoring directors who do not comply with their obligations”.

24 February 2023 • By Philip King

Regulation

ATO seizes and destroys over $31 million in illicit tobacco

Raids with the police found unlawful crops on 42 acres of regional Victoria.

23 February 2023 • By Josh Needs

Business

Key small business indicators slip into critical zone

Sales, jobs, wages and waiting time for payments all went into reverse during January, the latest Xero data shows.

23 February 2023 • By Philip King

Tax

Accountants must educate clients on PAYG instalments: ATO

Whether voluntary or mandatory, the Tax Office has warned agents to ensure their client understands their obligations.

22 February 2023 • By Josh Needs

Business

ATO points trust distribution weapons at wrong target

The ATO is gunning for the wrong target in its s100A approach because the authors of the law never intended it to...

17 February 2023 • By Philip King

Tax

ATO defends changes to WFH rate, record-keeping regime

Media campaign will get taxpayers up to speed but most are already keeping good records, assistant commissioner says.

17 February 2023 • By Philip King

Tax

ATO sticks to its guns in revised WFH deductions regime

The finalised guidance, released yesterday, introduces stricter record-keeping requirements and a fresh rate per hour.

16 February 2023 • By Philip King

Tax

ATO turns spotlight on holding companies set up to avoid tax

Involvement in such schemes could involve “serious penalties” for taxpayers and agents promoting them.

15 February 2023 • By Philip King

Tax

ATO turns up the heat on holiday home deductions

Accountants must ask all the right questions about what clients really do with their summer houses.

10 February 2023 • By Josh Needs

Regulation

ATO cracks down on international money moves into Australia

Taxpayers should plan carefully when bringing funds into the country to avoid suspicion, says tax specialist.

08 February 2023 • By Josh Needs

Tax

ATO plans publicity campaign for final WFH guidance

More demanding record-keeping requirements in the November draft have been in place since 1 January.

06 February 2023 • By Philip King

Regulation

ATO pursues sham not-for-profits set up to dodge tax

The office has been tipped off that “private foundations” are being created to take advantage of charitable concessions.

03 February 2023 • By Philip King