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161 ATO issues new alert after spike in tax scams ...: The tax office has issued a high alert after more than $800,000 was reportedly lost in the month of November alone due to a spike in the number scam phone calls doing the rounds. It comes just over ...; 05 December 2018 in Finance
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162 Payroll tax shocks catching out businesses ...: Some businesses are being caught off guard about their payroll tax liabilities, an audit and tax consulting firm has said, particularly in instances where wage underpayment has been identified. The ...; 27 November 2018 in Finance
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163 Labor pledges to fund free tax clinics ...: The federal opposition has proposed to fund 10 tax clinics around the country to help microbusinesses and disadvantaged taxpayers engage with the ATO’s administrative processes. Shadow assistant treasurer ...; 20 November 2018 in Finance
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164 BHP settles tax bill with ATO for $529m ...: Mining giant BHP has settled a longstanding dispute with the ATO for roughly half of the $1 billion in taxes and penalties the Tax Office had sought from the sale of Australian commodities overseas. BHP ...; 20 November 2018 in Finance
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165 Scammers targeting those with tax bills ...: The ATO is warning taxpayers who have an outstanding tax bill to be wary of scammers seeking to intercept these funds ahead of the payment deadline. According to the Tax Office, around 1 million Australians ...; 15 November 2018 in Finance
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166 Tax agent convicted of fraud, money laundering ...: A tax agent has been sentenced to five years in prison for tax fraud and money laundering after a joint ATO and Australian Federal Police investigation. The Sydney District Court has sentenced Md Zahidul ...; 14 November 2018 in Growth
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167 ‘Name and shame’ tax dodgers plan cops backlash ...: The opposition’s proposal to give the tax commissioner powers to name and shame individuals and entities connected to illegal phoenix activities has its merit but lacks teeth, an accountant has said. Last ...; 13 November 2018 in Growth
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168 Tax deadline looms large for 4.8m Aussies ...: About 4.8 million Australians are yet to lodge their 2017-18 tax return, despite the 31 October deadline fast approaching and the threat of more than $1,000 in penalties. In a statement, the ATO said ...; 29 October 2018 in Finance
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169 Tax incentives failing to support most in need ...: Tax deductions designed to support businesses are failing to reach those most in need, as poor targeting of benefits and a focus on bringing forward deductions deliver little real value. That is the ...; 23 October 2018 in Finance
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170 Taxpayers in ‘awkward spot’ over ATO communications ...: A recent federal court decision and subsequent refusal by the High Court to grant special leave to appeal leaves taxpayers in an “awkward spot” when it comes to relying on ATO communications. Last ...; 22 October 2018 in Finance
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171 SME tax cuts get green light from parliament ...: Around 3.3 million Australian SMEs will enjoy a 25 per cent tax rate from 2021-22, after the government’s plan to fast-track the cuts passed both houses of federal parliament. The tax cuts for small ...; 19 October 2018 in Finance
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172 Fast-tracked tax cuts could have nasty sting ...: The government’s decision to fast-track tax cuts for SMEs could throw up some significant curve balls for shareholders and companies who fail to plan ahead, an accounting firm has claimed. Last week, ...; 16 October 2018 in Finance
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173 SME tax cuts could be accelerated ...: With a federal election due by mid next year, the government has floated a major election sweetener in the form of fast-tracked tax cuts for SMEs. Currently the tax rate for SMEs with annual turnover ...; 11 October 2018 in Finance
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174 More tax audits in the pipeline, accountant warns ...: An accountant has warned business leaders and taxpayers of a potential increase in ATO audits, as more data matching increases the taxman’s reach. Timothy Munro, managing director of Change Accounts ...; 05 October 2018 in Growth
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175 Government mulls tax on digital corporations ...: The federal government has begun zoning in on options for taxing the digital economy, but there are concerns of retaliation from the United States. Treasury has now released a discussion paper months ...; 04 October 2018 in Technology
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176 Company director faces 13 charges over tax debt ...: The director of a now liquidated company that owed the tax office more than $230,000 will face court on 13 charges relating to alleged phoenix activity. ASIC has accused Queensland man Allan Ronald ...; 27 September 2018 in Growth
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177 Low productivity, high taxes strangling SME growth ...: A new major research paper has identified significant headwinds for Australian SMEs and called for radical reforms to reverse slowing productivity rates and remove restrictive tax policies. The Institute ...; 26 September 2018 in Growth
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178 R&D tax incentive changes introduced ‘by stealth’ ...: The government’s proposed R&D tax incentive changes have been released under the guise of a new omnibus bill targeting multinationals, suggesting that the government is attempting to pass the bill “by ...; 24 September 2018 in Finance
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179 Tax office warning on additional income ...: Cash payments, jobs on the side… it may be easy to overlook or tempting to not declare. But the ATO is warning all taxpayers that it is on the lookout for undeclared income – with stiff penalties for wrongdoers ...; 19 September 2018 in Finance
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180 Automatic tax returns could become reality ...: Australian taxpayers would have their tax returns automatically pre-filled, reducing the need to visit a tax agent, if recommendations from a parliamentary inquiry are enacted. The House of Representatives ...; 18 September 2018 in Technology