Posts tagged "ato"

Technical difficulties have plagued the Australian Taxation Office's online services for nearly a week, disrupting tax agents trying to complete returns before a major reporting deadline and raising concerns of further setbacks as a new cut-off date approaches.

Reminder: Influencers and companies need to declare luxury gifts at tax time this year as the ATO employs data technology to sweep social media.

Debt collection efforts at the ATO are now on a "firmer footing" than in recent years, Deputy Commissioner Will Day has confirmed, with the number of court actions initiated by the tax office expected to hit pre-COVID levels this year.

The ATO has issued a last-chance notice to attempted GST fraudsters, after joining forces with the Australian Federal Police to execute new search warrants on those suspected of promoting the scam.

Australians who work from home and want to simplify their tax returns will soon need to record each hour they complete outside the office or worksite.

Two years after launch, the eInvoicing system had only reached 25,000 of Australia's estimated 2.5 million businesses.

The ATO is contacting company directors to remind them of their Director ID Number obligations, chasing the 500,000 business leaders technically breaching corporate law by going without. 

Scammers are monitoring public social media pages for commenters seeking assistance with their tax payments or MyGov registration and reaching out to those taxpayers from bogus accounts, the federal government states.

Professional accounting groups are optimistic the ATO will continue to refine its new tax agent-linking system, after industry representatives said its six-step registration process could pose a significant challenge to small business clients.

The ATO is trialling a new digital process linking clients to tax agents, but some accounting groups are concerned the six-step process could place a significant administrative burden on small businesses.

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.

Whether you’re preparing for succession, planning a restructure, or thinking about selling, the ATO will have questions about the value of your business.