Tax & Compliance
Accountants foreshadow ATO compliance storm
Accountants are bracing for a full recommencement of ATO audit and debt activity as recent signs point towards a renewed approach to compliance-related work.
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Treasury floats increase to charities’ financial reporting threshold
Close to 7,000 charities are set to see a reduction in accounting fees as the government looks to revise current financial reporting thresholds.
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Overclaimed work-related expenses see agent disqualified
A recent tribunal case that saw a tax agent’s registration terminated over eight incompetently prepared income tax returns raises the bar for accountants, says one tax ...
Surgeon denied release of $1.2m tax debt
A medical practitioner with tax debts of close to $1.2 million has been denied a release of his liabilities after being found to spend over $200,000 each year on rent and...
ATO to claw back $155m in JobKeeper overpayments
The ATO has set its eyes on recovering a further $155 million in JobKeeper payments that were paid out to businesses that made deliberate or reckless mistakes in determin...
ATO walks back on digital instalment notices change
The Tax Office has agreed to temporarily revert to issuing paper instalment notices for PAYG following feedback from the profession.
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Tax Office reveals early super fraud numbers
The ATO has released estimates around the rates of fraud through the early release of super scheme, while a taskforce has launched six operations into potential violation...
ATO pressured to correct JobKeeper, cash flow boost eligibility oversight
Pressure is mounting on the ATO to expedite remedial action for all businesses that were wrongly denied JobKeeper or the cash flow boost, following a report by the tax wa...
Extend and expand loss carry-back tax offset, says CA ANZ
A permanent tax loss carry-back scheme extended to unincorporated businesses should be high on the government’s budget priorities, says Chartered Accountants Australia ...
ATO reveals STP reporting options for closely held payees
Employers with closely held payees will now have three options to report payments through Single Touch Payroll, following guidance from the ATO.
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