Regulation

Regulator bans two directors for over $10m debt, multiple failures

Between them the two were involved in seven failed companies and the one involved in phoenix activity gets maximum ban.

01 February 2023 • By Philip King

more from tag

Tax

Agent linking talks ‘highly productive’, says ATO

Office optimistic that another meeting with professional bodies can address concerns.

20 January 2023 • By Philip King

Appointments

Former AFP and ATO investigator joins Kroll’s Melbourne office

The experienced financial crime inspector joins from the firm’s London branch where he oversaw the asset tracing and...

20 January 2023 • By Josh Needs

Tax

ATO talks over agent linking regime end without agreement

A crucial meeting between the tax office and professional associations fails to resolve key points of difference about...

20 January 2023 • By Philip King

Tax

ATO figures reveal final 2022 DPN tally

After a slow start in May, the office went up through the gears with director penalty notices.

19 January 2023 • By Philip King

Regulation

Professional bodies demand changes to ATO agent linking process

Six-step method provokes storm of protest on social media and will be “a major headache” for small clients, say...

19 January 2023 • By Philip King

Regulation

ATO begins ID crackdown on recalcitrant directors

Half-a-million who failed to apply before the deadline will be contacted by the office.

17 January 2023 • By Philip King

Regulation

UK regulator finds no ‘systemic’ exam cheating issues

An FRC investigation prompted by the KPMG Australia scandal, among others, is reassured but remains “deeply concerned”.

16 January 2023 • By Philip King

Business

ATO revises personal services income guidance

Individuals must have a clear link between their social media and it driving customers to them to pass the unrelated...

12 January 2023 • By Josh Needs

Super

ATO updates TBAR guidance ahead of new time frames

The ATO is encouraging all SMSFs to start lodging reports for events on a quarterly basis now with the new streamlined...

11 January 2023 • By Josh Needs

Super

ATO raises alarm over SMSF asset protection schemes

Arrangements that involve a Vestey Trust may contravene super laws, the office says.

09 January 2023 • By Miranda Brownlee

Tax

Raids stop $33m in tax avoidance, ATO claims

Charges are pending following an operation with the Australian Federal Police (AFP) that uncovered 70 sales systems...

13 December 2022 • By Josh Needs

Business

ATO seizes over 270k illicit cigarettes from Queensland retailers

The action was part of the Tax Office’s crackdown on the $8 billion shadow economy.

12 December 2022 • By Josh Needs

Business

ATO issues final ruling on changes s100A

The decision comes after accountants had to rely on basic guidance for 30 June deadlines.

08 December 2022 • By Josh Needs

Tax

ATO targets dodgy deductions for holiday homes

Thousands of dollars in claims “that would fail the pub test” contribute to $1.6bn tax shortfall, assistant...

06 December 2022 • By Philip King

Technology

ATO will add security layer to agent linking

Second commissioner Jeremy Hirschhorn says nobody can afford complacency in the wake of Optus and Medibank hacks.

21 November 2022 • By Philip King

Regulation

ATO will take softly-softly approach to policing director IDs

The Registrar says it will reserve most enforcement action relating to director IDs for more egregious cases of...

18 November 2022 • By Miranda Brownlee

Regulation

ATO ditches November ID deadline for resigned directors

Draft legislation narrows the scope of the number scheme following criticism that it cast the net too wide.

16 November 2022 • By Philip King, Miranda Brownlee