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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
Tax
Profit motive puts crypto trades on revenue account
02 July 2022 • By John Jeffreys
Tax
Jump-the-gun tax returns ‘at high risk of adjustment’
01 July 2022 • By Philip King
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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
Tax
Car allowance increase ‘welcome news’
Professional accounting bodies have backed an increase to the cents-per-kilometre deduction rate for car expenses...
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 Miranda Brownlee
Tax
Profit-splitting professionals ‘in the dark’ over revised tests
Stricter compliance guidelines applying from July could catch out many firms.
27 June 2022 • By Philip King
Tax
Agreement rule is ‘100A Achille’s heel’
A trust entitlement has to arise from a prior reimbursement agreement for the tax avoidance measure to apply, says a...
27 June 2022 • By Philip King
Tax
‘Confusion’ reigns over 100A as year counts down
Fundamental problems with the ATO’s approach to trusts mean its recent guide will be useless for most accountants,...
24 June 2022 • By Philip King
