ATO - Australian Taxation Office
News and interviews on the ATO (Australian Taxation Office) including trends, features, blogs and community conversations from an Australian business perspective.
New tax reporting system for builders makes for more red tapeThursday, 17 May 2012
Plenty has been written about measures announced in the 2012 federal budget, so I won't go over old (although not very old) ground there. ...
Sydney couple running airconditioning business jailed after Wickenby investigation
Wednesday, 16 May 2012
A Sydney couple has been jailed following an Australian Tax Office investigation, after it was discovered the pair had been using a scheme to funnel money through Vanuatu in order to avoid paying tax. ...
Push for revival of scrapped company tax cuts intensifies
Wednesday, 16 May 2012
The federal government's abandonment of its promised company tax cuts in last week's budget will force business to find new ways to fund a future cut, according to the head of the government's Business Tax Working Group. ...
Six lessons from Australia’s richest self-managed super funds
Tuesday, 15 May 2012
The latest federal budget has focused attention on Australia’s best-paid super fund members – an estimated 128,000 individuals who earn more than $300,000 a year from their employment, businesses and non-super investments. ...
How to get value out of your financial adviser at tax time
Monday, 14 May 2012
This is traditionally the busiest time of the year for accountants and financial planners. ...
Loss carry-back "trap" could mean that many businesses will fail to get tax refund, tax experts say
Monday, 14 May 2012
Tax experts have warned of yet another hurdle for businesses to overcome in attempting to claim the loss carry-back tax refund announced in last week's federal budget. ...
Retailers hopeful as the dollar tumbles and budget funding increases
Thursday, 10 May 2012
The falling Australian dollar combined with a boost in funding for low to middle-income households in the federal budget are "good news" for retailers according to retail specialists, the Retail Doctor. ...
Review slams ATO’s technical capabilities on SME issues, finds firms win 58% of disputes
Thursday, 26 April 2012
A report by the Inspector General of Taxation has uncovered a lack of resourcing and poor technical ability at the Australian Taxation Office, which has led to 58% of medium-sized company tax disputes being upheld in favour of the firm. ...
Insolvencies rise 9.2% as banks join ATO in debt crack down
Monday, 13 February 2012
Banks continued to crack down on failed companies during what has been revealed to be the worst year ever for insolvency appointments, according to new figures released by the Australian Securities and Investments Commission. ...
ATO warns businesses big and small to fess up on tax problems
Tuesday, 17 January 2012
While the Australian Taxation Office has this morning warned big businesses to approach the agency before private tax problems spin out of control, experts say the commissioner is speaking squarely to small and medium-sized enterprises as well. ...
ATO reaches global agreement to chase down tax debts, still seeking TPG on Myer sale
Monday, 16 January 2012
The Australian Taxation Office has reaffirmed its commitment to tracking down tax dodgers after reaching an agreement with other major economies that will help the Government track down offshore debt. ...
ATO targets contractors with letters as wider crackdown gathers pace
Wednesday, 04 January 2012
The Australian Taxation Office will this month contact more than 650 contractors it believes might have wrongly assessed themselves as conducting a personal services business, as part of a broader crackdown on contractors. ...
ATO cracks down on wealthy boat owners, more data-matching tipped
Tuesday, 13 December 2011
The taxman is cracking down on boat owners, with the ATO undergoing a new data-matching campaign to identify more than 110,000 people who own vessels worth more than $25,000. ...
ATO can improve efforts to catch SME tax dodgers, Audit Office says
Friday, 09 December 2011
The Australian National Audit Office has delivered a blunt warning for entrepreneurs who might be pushing the boundaries of tax laws – the taxman has plenty of room to step up its compliance efforts even further. ...
ATO cracks down: Almost 500 companies and individuals convicted of tax, super offences in September quarter
Monday, 05 December 2011
Almost 500 companies and individuals were convicted in the September quarter for taxation and superannuation offences, an increase of 20%, and 12 people were sentenced to jail, for a maximum of five years. ...
Tax watchdog to investigate “heavy handed” use of SME benchmarks by the ATO
Tuesday, 29 November 2011
The Inspector-General of Taxation will investigate the taxman's use of controversial tax benchmarks to spot under-reporting of tax after allegations the ATO's use of the benchmarks has been "heavy-handed". ...
Experts divided on whether SMEs will bear brunt of increase in super contributions to 12%
Tuesday, 08 November 2011
The likely impact of the increase in superannuation guarantee contributions to 12% on small business is unclear, with the Institute of Public Accountants warning SMEs will bear the brunt of the reforms and calling for the Tax Office to distribute super ...
DIY super funds: Danger in acquiring assets from related parties
Thursday, 03 November 2011
The superannuation laws governing self-managed super funds (SMSFs) are receiving more and more (almost daily) attention. With the number of SMSFs exploding, adherence to the laws has become a key issue, not just for the funds themselves, but for the regulator ...
Debt owed to ATO by insolvent entities soars 36% to $5.3 billion as taxman’s crackdown continues
Wednesday, 02 November 2011
The effects of the downturn are still plaguing businesses, with debt owed by insolvent companies or individuals rising by more than 35% to a staggering $5.3 billion during the 2010-11 year, according to the latest Australian Taxation Office annual report. ...
Insolvencies hit second-highest level in history in August
Monday, 10 October 2011
Another month, another set of ugly collapse figures – the number of corporate insolvencies reached their second-highest level in August since records started in the late 1980s, according to the Australian Securities and Investments Commission. ...
