Tax

ATO to quiz professionals over profit allocation arrangements

A dedicated team within the Tax Office will begin contacting those with high-risk arrangements.

15 September 2022 • By Miranda Brownlee

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Tax

A trio of trip-wires businesses should avoid, says ATO

Wayward habits accentuated by the pandemic will be a compliance focus.

29 August 2022 • By Philip King

Tax

Redraw blurred lines between work and home, ATO warns

Lines between expenses related to business and personal use that became fuzzy during the pandemic need to be brought...

26 August 2022 • By Philip King

Super

ATO puts late lodging professionals on notice

The ATO will undertake compliance action against hundreds of professionals who are yet to lodge their SMSF return.

26 August 2022 • By Miranda Brownlee

Tax

Quiz clients on second-hand rental write-downs, ATO warns

The office outlines strict rules over which depreciating assets can be claimed.

24 August 2022 • By Josh Needs

Tax

180k July returns needed fixing, says ATO

Thousands required adjustment due to taxpayers jumping the gun on lodgements or changing prefills.

22 August 2022 • By Philip King

Tax

Frustrating reality of ATO overlooked in audit report

Favourable scorecard fails to align with the day-to-day experience of tax agents.

19 August 2022 • By John Jeffreys

Tax

Small-business debt a key target, ATO reveals

Increasing digitisation and lowering collectible debt are centrepieces of the office’s latest corporate plan.

18 August 2022 • By Philip King

Regulation

ATO needs to improve staff capability, says audit office

Key concerns identified in mainly favourable performance review of tax agent engagement by the office.

17 August 2022 • By Philip King

Business

ATO debt levels ‘much higher’ than pre-pandemic

Many troubled SMEs were too optimistic about economic recovery and now need formal repayment plans, says specialist.

10 August 2022 • By Philip King

Tax

Disclose contractor payments by 28 August, ATO warns

Small businesses told under-reporting will be exposed by powerful data matching.

09 August 2022 • By Josh Needs

Business

3 things you should be doing with your time instead of managing your ATO...

Do you know what’s involved in processing, reviewing, and distributing ATO correspondence in your office?

05 August 2022 • By ATOmate Powered by Business Automation Works (BAW)

Tax

ATO gives green light to lodge returns

With data collection complete for form prefills, the office welcomes tax lodgements.

28 July 2022 • By Josh Needs

Tax

ATO reaches $1bn settlement with Rio Tinto

Outcome in the 10-year dispute is a win for the Task Avoidance Taskforce, the Tax Office says.

22 July 2022 • By Josh Needs

Tax

ATO adds indebted sole traders to credit referrals

The step should help promote transparency and fairness, says IPA.

19 July 2022 • By Josh Needs

Business

Tech-savvy operators deserting dinosaur practices

Frustrated by a lack of appetite for innovation, hungry accountants are going out on their own, says Shaye Thyer.

11 July 2022 • By Philip King

Tax

ATO casts net wide when it comes to taxable business income

Commissions, investment earnings, gratuities and more must be included to be assessed, the office warns.

08 July 2022 • By Josh Needs

Tax

Former ATO staffer charged for accepting $150k bribe

A taxpayer allegedly paid the Tax Office employee to reduce $6 million in personal and business debts.

07 July 2022 • By Josh Needs