The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax.
Read MoreThe Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.
Read MoreLate last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed.
Read MoreA recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking.
Read MoreThe Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses.
Read MoreFrom 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term accommodation to report their transactions to the ATO each year. From 1 July 2024, the regime will expand to include all other platforms.
Read MoreThe ATO has released its final position on how it will apply some integrity rules dealing with trust distributions - changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach.
Read MoreThe ATO has flagged four priority areas this tax season where people are making mistakes.
With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season.
Read MoreThe ATO has not pursued many business tax debts during the pandemic and allowed tax refunds to flow through even if the business had a tax debt. That position has now changed.
Read MoreThe Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022.
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