Insolvencies climb as the ATO ups the pressure on directors
New figures released this week show the number of companies entering external administration in March climbed to 463, a 30% jump on February and nearly 80% higher than January.
Employers not paying super to face court under Labor plan, as ATO urged to come down harder
Employers that fail to pay workers super could be taken to court under Labor's new plan to get super into the National Employment Standards, while the ATO has been urged to take a more heavy-handed approach to compliance.
Scammers are offering fake ABNs to prospective small business owners, the ATO warns
Scam artists are advertising on social media platforms like Facebook, Twitter, and Instagram, harming unsuspecting victims in the process.
Morrison government says it won’t ‘hesitate’ to change trust laws as section 100A confusion continues
The Morrison government has pledged to “provide certainty for family trusts” and stop tax laws from being applied unfairly if it is re-elected, and says it “will not hesitate” to make legislative changes if needed.
Election 2022: Here’s what small businesses should know about tax policies
Ahead of the federal election on May 21, SmartCompany is breaking down the key issues facing Australia's small business community. Today we're looking at tax.
“Some exceptions”, but ANAO finds JobKeeper compliance measures implemented “largely as intended”
More than 1 million entities had JobKeeper applications processed by the tax office team, ANAO says in its report, with almost $89 billion being made.
Why the budget’s business measures will put the ATO under the pump
As Tuesday's federal budget continues to get sold over the next few days, the ATO will be inundated with enquiries over the business tax measures.
The ATO is back issuing Director Penalty Notices but payment arrangements are no longer accepted
While the ATO put most overdue tax collection on hold during the pandemic, it has now recommenced some collection activity, including the issuing of Director Penalty Notices.
ATO cracks down on trust distributions: Here’s what you need to know
The Australian Taxation Office’s (ATO) recently released guidance on section 100A contains much that challenges the ‘lore’ that has grown up around acceptable uses for trusts in Australia.
How the federal government gave us a flawed tax offset that we could be stuck with forever
Treasurer Josh Frydenberg says he hasn’t “made any final decision” on the $7.8 billion per year low and middle income tax offset ahead of next month’s budget.
MYEFO: Procurement, small business counselling and the digital economy get funding boost
The MYEFO update includes additional funding to improve SME access to government tenders and extend free financial counselling to small businesses affected by COVID-19, bushfires and floods.
ASIC reveals the big businesses that received the most JobKeeper payments
Qantas, Crown Resorts and Flight Centre claimed more than $1.3 billion in JobKeeper payments between them.
