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

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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

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

Technology

CreditorWatch achieves ATO Digital Service Provider certification

The firm’s procedures saw it pass the ATO’s Operational Security Framework with a maintained uptime of 99.95 per cent...

31 January 2023 • By Josh Needs

Super

Beware promoters of early super access schemes, ATO warns

Vulnerable people are targets for scammers offering to help set up an SMSF as a way to get a hold of savings illegally.

24 January 2023 • By Miranda Brownlee

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