Posts tagged "australian taxation office"

If you had a profitable year this financial year, but think that next year will not be as profitable, it is worth considering paying for next year’s expenses prior to June 30, 2022.

A major Australian Taxation Office (ATO) website outage left small businesses and accountants unable to file claims over the weekend.

Extremely low insolvency rates through the COVID-19 pandemic mean there is now a "backlog", Creditorwatch CEO Patrick Coghlan says.

The ATO is ramping up its issuance of director penalty notices — which can hold current and former company directors personally liable.

The con involved creating a sham business and ABN application, and then submitting falsified business activity statements to receive a fraudulent GST refund.

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. 

Scam artists are advertising on social media platforms like Facebook, Twitter, and Instagram, harming unsuspecting victims in the process.

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.

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.

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.

At this time of year, tax deductions are front of mind. Here are some changes to keep in mind due to the COVID-19 pandemic.

The tax office is forewarning businesses that it will closely monitor asset write-off and loss carry-back claims this end of financial year.