End of Director ID amnesty exposes 500,000 Australian corporate leaders to severe fines
As many as 500,000 company directors are now exposed to criminal penalties of $13,200 after the ATO's amnesty on late Director ID applications passed on Wednesday.
As business collapses rise, Parliamentary Committee scrutinises ATO’s role in 74% of cases
The primacy of the ATO as Australia’s biggest creditor when it comes to corporate insolvencies is being put under fresh scrutiny.
ATO finalises s100A guidelines for how it will police trust distributions
The ATO has spent much of the past year finalising its views on what kinds of transactions involving trusts and beneficiaries might cause them to poke and prod a bit further.
Businesses placed on alert after ATO raids 35 properties in five states over tax avoidance
The raids are part of a worldwide effort to crack down on businesses using illegal technology that obscures sales in order to reduce their tax bill.
ATO to launch online tax training portal for small businesses as it stares down $44 billion in collectable debt
The ATO is developing a new online training portal for small businesses, containing free courses designed to improve tax compliance — and help the tax office whittle down some $44 billion in collectible debts.
Director IDs: Tax boss gives directors 14 more days to apply to avoid penalties
The ATO has confirmed that it won't throw the book at directors if they sign up for the new Director ID scheme by December 14.
Is your business late on its tax payments? ATO fines will soon become significantly more expensive
Small businesses which fall behind on their tax lodgements can expect their financial penalties to increase dramatically from January 1, 2023, with more rises to follow.
Small businesses struggling with ATO arrears urged to call free debt counselling hotline
Financial counsellors say the free service can help proprietors negotiate debt payment plans with the ATO.
ATO to enforce transparency on multinationals bidding for government work
New tax-transparency requirements that will commence from July 1, 2023, will force public companies in Australia to disclose where their subsidiaries are based.
Fossil fuel giants paid no tax in 2020-21 despite billions in revenue, says ATO report
Who's paying and not paying tax? Iron ore miners and banks paid a lot in 2020-21 — but fossil fuel companies not so much.
Tax watchdog records drop in complaints, but 65 agents still deregistered
Almost 1300 complaints and referrals were assessed by the Tax Practitioners Board during the 2021-22 financial year.
ATO looks to bridge $33 billion tax gap by collecting unpaid debts from small business
The federal government is putting tax dodgers on notice over billions in unpaid taxes.
