Tax recap: The 23 updates, reforms, and crackdowns that defined 2023
It was a year of transition for the Australian Taxation Office: after an extended period of leniency shown to small busines taxpayers struggling through pandemic lockdowns, 2023 marked a reversion to the norm.
ATO commissioner says “softer approach” to small business debt collection is officially over
The Australian Taxation Office is "unapologetic" about collecting unpaid debts from the small business sector, commissioner Chris Jordan says, giving one final warning to enterprises deliberately holding on to overdue payments.
Court actions by Big Four banks against SMEs ramp up to pre-pandemic levels
The Big Four banks are ramping up their court activity against small businesses as interest rates continue to rise, with legal actions firmly at pre-pandemic levels in October.
ATO unveils beta version of “streamlined” website ahead of December release
The ATO has unveiled a beta version of its new website, claiming its refreshed online services will offer "streamlined" navigation and clearer information for taxpayers and tax agents alike.
ATO surprises taxpayers and accountants by reviving tax debts under $1
The ATO has unexpectedly revitalised thousands of dormant tax debts, some of which are for as little as 31 cents.
ATO taskforce recovers billions from big business tax avoiders
The Australian Taxation Office’s Tax Avoidance Taskforce helped generate an additional $7.6 billion in revenue during the 2022-23 financial year.
Tax experts wait for further clarity after major AAT ruling on trust distributions and loans
Small business tax advisors are carefully assessing an Administrative Appeals Tribunal decision that challenges the Australian Taxation Office's interpretation of specific trust distribution rules, with one leading accountant "playing a straight bat" before a likely appeal from the ATO itself.
Missing receipts sink Queensland director’s $50,000 claim for work-related tax deductions
A Queensland director has been unsuccessful in his bid to claim nearly $50,000 in business travel, accommodation, and food costs as income tax deductions because he didn't have the receipts.
ATO threatens to disclose business tax debts to credit reporting agencies
The ATO has issued a stern warning to businesses with big tax debts, saying it will disclose them to credit reporting agencies.
ATO reveals 174 criminal convictions amid ongoing GST fraud crackdown
The Australian Taxation Office secured 174 criminal convictions for tax-related fraud in the last financial year, while the stunning trend of GST fraud popularised on social media suggests even more prosecutions are on the way.
Doing a ‘DIY’ tax return? ATO says get it ready before October 31 deadline
The deadline for self-lodged tax returns is fast approaching, with taxpayers required to turn over their details by October 31.
Tim Loh, the ATO’s LinkedIn and TV star, steps out of spokesperson role as tax time winds down
The public face of the Australian Taxation Office is stepping out of the media spotlight for another year, after emphasising the human element of revenue collection duties and carving out his own niche as a business community influencer.
