Tax & Compliance
Tax lawyer cautions tax agents on supply of documents in certain states
A barrister has warned that the supply of legal documents such as trust deeds can expose tax agents to heightened risks in certain states and territories, where laws arou...
ATO tax governance scrutiny driving corporate transformation
An increase in ATO activity and scrutiny on tax governance frameworks has seen a take-up from corporations to review and implement transformation activities, says Thomson...
Both sides of government spin super promises
The federal government and opposition have promised a stable superannuation environment, but at the same time, both major parties have changes in the pipeline and a long ...
ATO to double rental deduction audits to 4,500
ATO audits of rental deduction claims will double this tax time as the agency reinforces its claims that nine out of 10 deductions contained an error.
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Rental travel deduction issue remains, says ATO
The Tax Office has said that it is continuing to see some tax agents attempt to claim travel to residential rental properties despite the rules changing in 2017.
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Frydenberg and Bowen lock horns as Labor updates website
Labor is in the midst of updating its capital gains tax and negative gearing policies amid scrutiny from the industry.
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Labor pushes on with franking credits ‘gift’ portrayal
Opposition leader Bill Shorten has pitched refundable franking credits as a “gift” that could fund fundamental health care, as concerns are raised over the independen...
ATO issues view on overturned GST decision
Clients who supply their own vehicle for work purposes will not be automatically viewed by the Tax Office as an independent contractor despite a decision by the Administr...
Accountant in hot water for false records under liability laws
An accounting firm will face action from the Fair Work Ombudsman under accessorial liability laws for allegedly providing false records for its massage parlour client to ...
‘Have to have STP-enabled software’: ATO confirms submission approach
The ATO has confirmed that it will not enable single touch reporting to be done through its new online services for agents nor its existing portals while refraining from ...
High-wealth threshold bumped up as tax taskforce receives additional funding
Wealthy clients who now control net wealth of $50 million or more will be classified by the ATO as high-wealth individuals, the first time it has revised its threshold in...
Tax agent claims family pet as guard dog, gets booted by TPB
The Tax Practitioners Board has terminated two tax agent registrations after a joint investigation with the ATO found that they were overclaiming expenses on behalf of th...
