Finance

The Australian Taxation Office’s decisions on compensation for small business victims of “defective administration” are under review.

A Perth-based accountant has been jailed for four years for trying to obtain over $250,000 from clients and the ATO fraudulently.

A scathing report on the ATO has been tabled in Parliament, labelling the 2016-17 year as 'horrible' and making 37 recommendations for reforming the body.

The ATO is negotiating with the major banks on a possible STP solution within online banking as it faces over 300,000 firms with no digital payroll.

A Sunshine Coast man will spend 30 months in jail after being found guilty of tax fraud involving over $100,000 in false GST claims.

A man convicted of tax fraud related to illegal phoenixing activity will spend six years in jail and pay $1.8 million in reparations.

Treasury has released a consultation paper canvassing views on better ways to promote tax compliance in the sharing economy, including Uber and Airbnb.

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

Tax agents are eagerly awaiting the rollout of a new online portal for ATO services which they say will allow them to deliver a better service.

A joint investigation between the ATO and the Tax Practitioners Board has resulted in two agents being terminated over allegations they stole money.

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.

Small business compensation from the ATO will be put under a spotlight in a review to be undertaken by the Department of Finance.