Posts tagged "deductions"

Tax office data has been used to calculate ways that would give a standard deduction to everyone who wants it (and others more, up to a cap) without increasing the total paid out.

Business owners are being encouraged to manage their cashflow ahead of new laws putting a stop to the ATO being used as a 'de-facto bank'.

Small businesses received a $66 million reduction in disputed tax debts from settlements in 2018-19, about double the amount from last year, new figures show.

The Senate has passed several controversial small business reforms which will change Australia's patent regime and expand ATO powers.

Whistleblower Richard Boyle has delivered a scathing assessment of the ATO watchdog's review of its garnishee scandal, claiming it distorted the facts.

A Senate committee has greenlighted a controversial bill to expand ATO powers by enabling it to share tax debts with third party credit agencies.

A tax office whistleblower facing a possible 161-year jail sentence for shining a light on ATO debt collection behaviour is asking for public support.

A government proposal to allow the tax office to share unpaid bills with credit bureaus is being closely watched by the ASBFEO.

Labor has released costings for its family trust tax, outlining its plan to crack down on misuse, although there is concern small business will be caught in the crossfire.

It has emerged the ATO will be responsible for administering a tax clinic trial which will help businesses with ATO disputes.

The end of the financial year is only six months away and now is the time to start thinking about what tax time might look like for your business.

Businesses with tax disputes will have an easier go of things under a new coalition policy, which will establish a dedicated concierge within the ASBFEO.