Tag: ATO

A wave of fraudulent emails purporting to be from the Australian Government are in circulation currently, reportedly concerning Tax Refunds and the end of financial year.

The Federal Government & the Australian Taxation Office (ATO) continued to alienate themselves from the business sector last week with the Tax Office releasing its final ruling on discretionary trusts distributing surplus income to corporate beneficiaries.

ATO changes to family trusts will see Australian businesses subject to cost and time burdens in order to comply with two landmark rulings yesterday from the ATO effective July 1 2010.

The Commonwealth Bank will shut down their structured finance division, with department head Leanne Leong resigning after an internal review.

The campaign for a Robin Hood tax has hit Australia, with high profile Australians and charities (but few economists) lining up to support the cause.

Hospitals, schools and charities are all under threat by the Henry Tax Review’s proposed changes to Fringe Benefits Tax concessions according toaccounting firm BDO.

Small business owners are at risk of having to pay thousands of dollars in retrospective taxes as a result of the ATO’s recent draft ruling regarding trust income and gains that are allocated to, but not paid to, private company beneficiaries of the trust.

Tax agents are facing cashflow problems as the Australian Tax Office’s (ATO) new income tax processing system has been delayed. The common practice of accountants deducting their tax preparation fee from taxpayers’ refunds has been put into turmoil as the ATO have not processed 705,000 tax returns since last year. Adrian Raftery, CEO of accountantsRus, […]

Is tax time a dreaded chore? A combination of annual accounts and audit fears? Mark Muller and Peter Bembrick look at how you can maximise the time and effort spent on preparing annual accounts and becoming audit ready by turning this into a valuable activity for improving your business. While not all businesses need to […]