Tax commissioner faces inquiry about ‘disobeying’ Senate over JobKeeper disclosures
Australia’s tax commissioner Chris Jordan is facing an inquiry into whether he disobeyed the Senate after not following through on an order to provide details about businesses receiving JobKeeper.
Bruce Billson backs calls to improve ATO handling of small business disputes
The small business ombudsman is backing calls for the tax office to better inform SMEs of their rights, after a report found many tax professionals and business owners think communications are ineffective.
Why the big four auditing firms need to choose between tax schemes or government funding
The big four audit and consulting firms are at the heart of the infinitely complex world of tax avoidance and evasion.
OECD urges Australia to increase GST and lower income tax
Australia should move away from heavy taxation of incomes towards higher taxation on goods and services to accelerate economic recovery from the pandemic, the OECD recommends.
Victorian tax agent loses registration after practitioners board cracks down
The Tax Practitioners Board has terminated the registration of a Victorian tax agent and banned him for five years.
The Greens’ super-profit tax idea may not be the winner that it seems to be
The Greens Party has proposed a “tycoon tax” that would tax so-called super-profits made by companies with annual turnovers of more than $100 million.
ATO pauses some compliance activities for businesses in lockdown
The ATO has hit pause on some of its ‘firmer’ debt and lodgement activities for businesses “adversely impacted” by ongoing COVID-19 lockdowns.
R&D Tax Incentive explained: Here’s what you can claim
Research and Development (R&D) is much broader than you might think — it's not just for deep tech, software developers, or biotech companies.
Accountants call for special tax treatment of accountant fees for COVID-19 grants, as ATO rules out deductions
CPA Australia says the government could consider passing legislation that would allow small businesses to deduct the cost of applying for tax-free COVID-19 grants against other business income.
Employee share schemes under the microscope for “complicated and restrictive” regime
A report has recommended big changes to taxation under employee share schemes, including making shares taxable only after they're sold.
ATO is chasing debts as lockdowns continue, but is it making a bad situation worse?
Australia’s latest lockdowns pose a challenge for the ATO: start collecting the business debts outstanding from 2020 and risk putting companies under further pressure, or allow those debts to continue to grow.
ATO issues warning notices to businesses with $100,000 in tax debts under new debt disclosure powers
The Tax Office has started issuing warning notices to small businesses with tax debts of more than $100,000, under new powers that allow it to disclose unpaid taxes to credit reporting agencies.
