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Tax & Compliance
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Employers cautioned over ‘hard and fast’ decline in turnover eligibility Accountants assisting clients with the JobKeeper extension have been urged to pay close attention to the actual decline in turnover test, with the ATO unable to offer lee...
ATO details COVID-19 hit on revenue and lodgement targets A $1.3 billion shortfall saw the ATO fail to hit its compliance revenue target for the year as it adjusted its community approach in light of COVID-19. Write comm...
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ATO reveals first-ever total tax gap of $31bn The ATO believes $31.2 billion in taxes continues to be unaccounted for as it publishes its tax gap analysis for the entire tax and superannuation system for the first ti...
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ATO urged to rethink tax ruling overhaul The ATO has been urged to tread carefully with its plan to retire 16 occupational and industry-specific taxation rulings, with many practitioners and taxpayers continuing...
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JobKeeper legacy decline in turnover certificate ‘not a tax agent service’: TPB BAS agents providing the 10 per cent decline in turnover certificate for JobKeeper legacy employers are not providing a tax agent service, the Tax Practitioners Board has...
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‘Unnecessary and unfair’: Small business shut out from loss carry back Thousands of small businesses are set to miss out on accessing the temporary loss carry back provisions due to its limitation to corporate entities. Write comment...
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Businesses given a month to implement updated ATO tax tables Employers will now have approximately one month to implement income tax cut changes as the ATO updates its tax withholding schedules. Write comment (0 Comments)...
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Commissioner registers new JobKeeper alternative test The ATO has now registered an additional alternative decline in turnover test for the JobKeeper extension. Write comment (0 Comments) ...
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Tax cuts set to flow ‘within a few days or weeks’ The ATO has begun updating its tax withholding schedules to reflect the latest round of income tax cuts, as non-salary and wage earners have been urged to vary their Sept...
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Large businesses lament federal budget aggregated turnover rule The aggregation rule in the federal budget’s expanded instant asset write-off is set to exclude a number of larger Australian businesses despite the high $5 billion tur...
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