The ATO is inviting Australia’s small business owners to apply to join its new 'small business consultation panel' to help cut red tape and boost the ATO’s small business expertise. The consultation panel will bring together small business operators with: - at least t ..
Note: This case involves a taxpayer being penalised with excess contributions tax (ECT) because payments that his bookkeeper was supposed to make in the 2009 and 2011 years inadvertently all ended up in the 2010 year. As is often the case with ECT, this all ended in tears. The taxp ..
The ATO is encouraging women to take an active interest in their superannuation to help overcome the retirement savings shortfall many are currently experiencing, saying “It’s never too late". Assistant Commissioner Megan Yong said, “On average, Australian women currently r ..
The ATO has advised that it will acquire details of approximately 20,500 individuals providing contractor services to local government authorities in the 2010/11 and 2011/12 financial years from various local government Council and Shire authorities throughout: Queensland; Tasmania; New ..
The ATO has identified that employers in the following industries have a higher risk of not meeting their super obligations: hairdressing and beauty; clothing retailing; and management advice and consulting. The ATO is currently running an education campaign for business owners in ..
Some SMSF statistics As at 30 September 2013, there were over 516,000 SMSFs holding around $531 billion in assets. Although SMSFs are nearing one million SMSF members (980,000), or 8% of the 11.6 million members of Australian super funds, they account for 31% of the $1.6 trillion total supe ..
The Federal Court has fined a company running a managed investment scheme, and its directors, more than $1 million for breaching the promoter penalty provisions of the Taxation Administration Act. The Court awarded civil penalties to the ATO against Barossa Vines Limited (and its four direct ..
- ATO watching for foreign income this Tax Time
- "Outrageous" deductions rejected
- ATO guidance regarding incorrect ENCC determinations
- The ATO hits the road
- Motor vehicle registries data matching program protocol
- ATO guidance regarding 'downsizer contributions'
- ATO Updates
- Company loans to shareholders under review
- Scammers impersonating tax agents
- Expansion of the TPRS