Tax

Tax

Taxpayer ordered to pay $24.4m to ATO over unpaid tax debts

The Supreme Court of NSW has ordered a taxpayer to pay the ATO over $24 million in relation to unpaid income tax and...

10 September 2024 • By Miranda Brownlee

more from tax

Tax

Demographic trends likely to result in future wealth tax, says specialist

Increasing inequality and a growing proportion of renters will put greater pressure on the government to implement...

06 September 2024 • By Miranda Brownlee

Tax

Accounting bodies demand action on code changes in letter to PM

Various accounting bodies have called for amendments to be made to the Tax Agent Services Determination ahead of a...

05 September 2024 • By Imogen Wilson

Tax

ATO reveals common rental property errors from data-matching program

Recent results from the data-matching program identified issues around the reporting of rental income and claims for...

04 September 2024 • By Imogen Wilson

Tax

ATO predicts further jump in tax debt disclosures to credit agencies

The Tax Office expects the use of intent-to-disclose notices will ramp up further this income year based on trends...

04 September 2024 • By Miranda Brownlee

Tax

ATO practice statement lays down law on illegal early release perpetrators

Recent updates in the Practice Statement Law Administration (PS LA) 2021/1 show that the ATO means business when it...

03 September 2024 • By Keeli Cambourne

Tax

The permanency of the permanent: The ‘vacant’ landholding provisions

Are interest costs incurred on borrowings for land acquisition deductible to an entity undertaking a property...

30 August 2024 • By Phillip London, TaxBanter

Tax

PCG 2024/D2 poses ‘higher taxes for thousands of businesses’, warns tax expert

The ATO’s draft guidance on personal service income and the general anti-avoidance provisions is likely to be a shock...

30 August 2024 • By Miranda Brownlee