Why most states in Australia aren’t removing stamp duty
Nearly all economists and most politicians seem to agree stamp duty is a bad tax. But nearly all state and territory governments rely on it to keep the lights on.
The ATO has updated its guidance on business valuations. Here’s what you need to know to avoid tax penalties
Whether you’re preparing for succession, planning a restructure, or thinking about selling, the ATO will have questions about the value of your business.
SmartCompany’s most-read stories of 2022
SmartCompany's two most-viewed stories of the year came within weeks of each other in the midst of our national airline’s winter of discontent.
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.
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.
“Bring on the fine”: Business leaders see red over Director ID application bugs
Australian business leaders say the mandatory Director ID sign-up process is deeply flawed, with technical bugs, difficulties accessing the myGov ID system, and overwhelmed customer service lines delaying applications.
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.
Wine, barley, beef and lobster exporters hope for China trade sanctions relief at Xi-Albanese meeting
Australia will focus on China's punishing trade sanctions when Prime Minister Anthony Albanese meets President Xi Jinping, Treasurer Jim Chalmers says.
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.
John Durie: Small business ‘can’t avoid commitments’ as ATO works through backlog of arrears
Small businesses are being warned to pay attention to their tax obligations and if in trouble, to speak up early to set repayment plans with the ATO.
