Tax & Compliance
Frydenberg shuns OECD’s GST reform recommendation
Treasurer Josh Frydenberg has ruled out broadening the GST base and increasing its rate despite the Organisation for Economic Co-operation and Development warning of vuln...
ATO fires warning shots on cryptocurrency cost base, record-keeping
The ATO has warned advisers new to cryptocurrencies to be aware of the components that comprise a crypto asset’s cost base, and to encourage their clients to keep immac...
ASIC bats away privacy concerns over JobKeeper disclosure
The corporate regulator defended its decision to force listed firms to disclose whether they’ve received JobKeeper, saying it’s within the interests of everyone deali...
Accountants cautious over NSW move from stamp duty to property tax
The NSW government’s proposed shift from a one-off stamp duty payment to ongoing payments of property tax has sparked concerns over who can offer advice on it, and how ...
UK tax increase offers platform to governments to consider COVID-19 debts
British Prime Minister Boris Johnson announced an increase to the UK’s national insurance tax of 1.25 per cent on Tuesday, breaking an election promise that goes agains...
ATO prosecutions fall by 70% in FY21
A softer compliance approach coupled with proceedings slowed and stifled by public health orders saw prosecutions mounted by the ATO sink to their lowest levels in seven ...
Remit SGC penalties for inadvertent and unintentional errors: CA ANZ, CPA Australia
Employers who inadvertently make late superannuation payments despite doing their best to comply with their obligations should be granted full remission of the superannua...
ATO issues warning on shares, ETF tax consequences
A surge in first-time investors trading shares and exchange-traded funds (ETF) has prompted the ATO to issue a warning on share tax treatment and the behaviour that raise...
Greens to push new 40% ‘Tycoon Tax’
The new corporate super profits tax would cut a further 40 per cent out of revenues earned by big corporations and mining companies in a bid to raise $338 billion over th...
Tax Commissioner threatened with contempt as JobKeeper stoush escalates
Contempt proceedings threatened by the Senate against the Tax Commissioner could see him jailed and fined for standing in the way of a JobKeeper transparency push.
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ATO hits pause on ‘firmer’ tax debt collection
The ATO has suspended “firmer” debt and lodgement activities across lockdown-affected states and territories, but has held off from an outright pause on all complianc...
