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.
Small businesses struggling with ATO arrears urged to call free debt counselling hotline
Financial counsellors say the free service can help proprietors negotiate debt payment plans with the ATO.
ATO to enforce transparency on multinationals bidding for government work
New tax-transparency requirements that will commence from July 1, 2023, will force public companies in Australia to disclose where their subsidiaries are based.
Hiring for Christmas? Make sure you’re across the latest superannuation changes, the ATO says
Thinking of hiring staff to cover the Christmas rush? Make sure to pay your new employees their superannuation guarantee, no matter how few hours they work, the ATO says.
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.
Budget 2022: ATO resources beefed up to tackle shadow economy and tax avoidance
The ATO will see funding for its Tax Avoidance Taskforce increased by approximately $200 million per year over four years, effective July 1, 2022.
Budget 2022: Depreciation of intangible assets scrapped to save $550 million
The federal government has decided not to proceed with a previous Coalition policy that would have allowed business operators to self-assess intangible depreciating assets, such as patents, registered designs, copyrights and in-house software.
ATO spends $3.2 million to push director ID registrations as deadline approaches
Anyone who is a director of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation is required to register and director identification number by November 30.
Budget 2022: Hospitality owners call for urgent action as staff shortages replace lockdowns as number one challenge
Restaurant owners want next week's federal budget to address staff availability and the punishing cost of doing business, six months after pledges in the last budget left one small trader feeling like a "tool" in an election campaign.
Andrew Leigh: By ensuring multinationals pay their fair share of tax, we can invest in Australia’s future
Bad faith business practices are why the Australian government is taking action to stop large multinational corporations from hiding behind false structures to unfairly reduce their tax bill.
ATO ‘influencer tax’ crackdown on celebrity endorsements
A draft ruling from the ATO could significantly change how famous entertainers, sports people, and influencers profit from their fame.
