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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
24 June 2022 • By Danny Talwar
Tax
ATO urges small business to ‘nail’ its tax
23 June 2022 • By Josh Needs
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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
Tax
Be wary of trust disclaimers, ATO warns
Beneficiaries are urged to understand the tax effect of entitlements in the wake of a recent High Court decision.
15 June 2022 • By Philip King
Tax
Most trusts safe from 100A, says ATO
Tax Office says common family arrangements have nothing to fear.
14 June 2022 • By Philip King
Tax
100A blue zone could be scrapped, says ATO
Updates will add examples to the “safe” green zone and consider ditching one category altogether.
13 June 2022 • By Philip King
Tax
ATO rejects claims of 100A overreach
In this week’s Accountants Daily podcast, ATO acting assistant commissioner Chris Ryan rejects claims the draft ruling...
11 June 2022 • By Philip King
Tax
100A tax time guide due in days, says ATO
The final document will take longer, the office says, but it will help trustees decide what to do this year.
09 June 2022 • By Philip King
Super
ATO issues warning to late-lodging SMSFs
SMSF annual returns for 2020-21 have to be filed with the Tax Office unless the fund has received an extension.
08 June 2022 • By Miranda Brownlee
Tax
ATO promises 12-day turnaround on error-free returns
But common mistakes will lead to longer processing times, it says.
06 June 2022 • By Josh Needs
Tax
Tax time try-ons won’t wash with ATO, says CA ANZ
Members better be on the lookout when it comes to some of the dodgier client claims.
06 June 2022 • By Philip King
Tax
Use data prefills or raise a red flag, ATO warns
Failing to wait for a prefill or altering form data risks putting clients under scrutiny.
03 June 2022 • By Josh Needs
Super
ATO flags changes to TBAR reporting
New rules are in effect that will see changes for accountants managing super fund lodgement.
30 May 2022 • By Tony Zhang
Tax
Double-dip and risk an audit, warns ATO
The Tax Office is determined to iron out false expense claims this year.
30 May 2022 • By Tony Zhang
Tax
Trust vesting case casts shadow over ATO ruling
A recent case demonstrates that the Tax Commissioner’s position on whether a trust can have its vesting date extended...
27 May 2022 • By Leigh Adams