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

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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

Tax

ATO awards itself green ticks for performance

Self-imposed targets suggest an overall pass mark, although on some metrics it has gone backwards.

05 July 2022 • By Philip King

Regulation

ASIC gives liquidator reprimand rather than ban

Conduct had the potential to undermine confidence, regulator said.

04 July 2022 • By Josh Needs

Tax

ATO begins chasing taxpayers with overdue payments and returns

Tax practitioners warned that “strongly worded” letters are on the way to non-complying clients.

30 June 2022 • By Philip King

Tax

If you asset wash you’ll wear it, warns ATO

The office says creating artificial losses through last-minute crypto and share sales will show up in its data analysis.

29 June 2022 • By Philip King

Business

ATO accelerates STP phase 2 efforts

The Tax Office is encouraging more businesses to make the switch to single touch payroll phase 2.

28 June 2022 • By Emma Musgrave

Tax

ATO flags early release concerns with lapsed lodgers

New ATO data indicates that there are currently over 138,000 lapsed lodgers with one or more outstanding SMSF returns.

28 June 2022 • By Emma Musgrave

Regulation

ATO takes aim at ‘reckless’ claims of legal privilege

Final protocol developed to prevent “inappropriate” withholding of evidence, the office says.

24 June 2022 • By Philip King

Tax

Avoid wrong moves with rental property, urges ATO

The office says agents should be on alert for three common taxpayer errors.

24 June 2022 • By Philip King

Tax

Help! My client has received an ATO letter about crypto trading

With digital currencies in the spotlight again this year, it’s vital to know the tax-time options.

24 June 2022 • By Danny Talwar

Tax

ATO urges small business to ‘nail’ its tax

A comprehensive toolkit gives a run-down on expenses and deductions.

23 June 2022 • By Josh Needs

Tax

ATO’s 100A tax time guide meets cautious welcome

The update is “helpful” and “clearer” but uncertainty remains, say accountants and professional bodies.

22 June 2022 • By Philip King

Tax

ATO interest charges outpace RBA rate rises

Annual rates for GIC and SIC rise by almost a percentage point.

21 June 2022 • By Josh Needs

Regulation

Fast-food operator fined $204k for falsifying payslips

Court finds breaches of Fair Work Act and worker underpayments of almost $60,000.

21 June 2022 • By Josh Needs

Regulation

ATO-led taskforce executes 19 warrants for GST fraud

Operation Protego makes a series of coordinated nationwide raids in GST crackdown.

20 June 2022 • By Josh Needs

Tax

ATO begins online client linking

The system aims to reduce the risk of unauthorised access to taxpayers’ online accounts.

17 June 2022 • By Josh Needs