Tax
ATO issues thousands of notices to Directors as it ramps up efforts to reclaim debt
Thousands of company directors have been warned that they must actively manage their business debt or face ATO action.
Tag: Tax Compliance
Accounting
Accounting firms may review tax accounts in place of ATO
An ATO pilot program – the external compliance assurance process – that allowed taxpayers to self assess has been named success and could be rolled out more widely. According to a Fairfax report, the program involving 56 companies with an annual turnover between $100 million and $5 billion, allowed the choice of using a registered […]
Small Business
Billson promises further red tape reductions for SMEs
Small business Minister Bruce Billson has announced red tape reductions to ease tax compliance costs for SMEs by up to $56 million a year.
Small Business
Tax compliance costs hurting smaller operators
Tax compliance is costing Australia’s 1.7 million small and medium sized businesses about $18.4bn a year, according to new research. The figures produced by the Institute of Chartered Accountants Australia show the average gross tax compliance cost for small to medium sized Australian businesses is running at $11,000 per firm each year. The Institute’s Head […]
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