Tax News

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Tax News That Matters - For Individuals and Small Business

Latest ATO and Tax Updates in Australia

ATO guidance update: debt relief, waiver and non-pursuit

Updated ATO guidance: debt relief, waiver and non-pursuit of tax debts Tax related debts are sometimes ignored by those struggling

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Current compliance issues in the SMSF space

Current compliance issues in the SMSF space The SMSF space has always been a complex area for trustees, beneficiaries, and

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Allocation of professional services firm profits: new ATO guidelines from 1 July 2022

New ATO guidelines for allocation of professional services firm profits If you run a professional services firm there are many

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Single Touch Payroll (STP): Phase 2

STP Phase 2 Single touch payroll (STP) has now entered Phase 2, although most employers may not yet be reporting

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More ATO action on SGC non-compliance

ANAO report recommends more ATO action on SGC non-compliance The Australian National Audit Office (ANAO) has recently issued a report

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GST fraud: Operation Protego

GST refund fraud scheme The ATO has lifted the lid on its most recent operation to stamp out GST fraud:

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Tax time 2022

Tax focus areas for 2022 Tax time 2022 is fast approaching, and this financial year, the ATO will again be

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AAT to get more powers to help small business

AAT potential powers to suspend or modify ATO debt recovery action Small businesses engaged in taxation disputes with the ATO

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Natural love and affection: Commercial debt forgiveness

Only a natural person can forgive a debt for natural love and affection Whether or not you have to be

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More powers for the ATO?

ATO phone taps? The ATO has been variously described in the media as one of the most powerful institutions in

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ATO concerns on luxury car tax

ATO concerned about luxury car tax arrangements Taxpayer alert on luxury car tax The ATO has issued a taxpayer alert

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ATO medium and emerging private groups program

Medium and emerging private groups tax performance program The ATO is continuing to run the medium and emerging private groups

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ATO scrutinising overseas gifts and loans

ATO scrutinising gifts and loans from oveseas Disguised offshore income & gains Taxpayers that have received gifts or loans from

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ATO data matching program extended for lifestyle assets

Lifestyle assets under the ATO’s microscope Even among the doom and gloom of the pandemic lockdowns, the ATO continues to

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ATO compliance on economic stimulus measures

ATO looking at loss carry-back, temporary full expensing & accelerated depreciation schemes Businesses that have claimed economic stimulus measures such

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