By API User
The Government has expanded the Code of Professional Conduct (Code) for tax practitioners, to strengthen integrity and accountability in the tax profession. To support implementation, the TPB is engaging with stakeholders, including tax practitioners, professional associations and community representatives, to develop practical guidance. TPB guidance will issue in late October for broad public consultation, with … Continued
By API User
The Australian Taxation Office (ATO) received 250,000 tip-offs from the community about tax avoidance and other dishonest behaviours since 1 July 2019. More than 47,000 tip-offs were reported in the 2023–24 financial year alone. The Australian community understands that cheating tax is not on, rather it is stealing money needed for essential community services we … Continued
By API User
The Australian Taxation Office (ATO) is reminding taxpayers that the due date for individuals who lodge their own income tax return (31 October 2024) is fast approaching. As of 22 September, the ATO had received over 7.9 million income tax returns from individuals for the 2024 financial year. Over 4 million individuals self-lodged their income tax return, while 3.8 million … Continued
By API User
A former tax agent has been sentenced to 5 years in jail, with a non-parole period of 3 years, for obtaining financial advantage by deception and knowingly dealing with the proceeds of crime. Gavin Swan fraudulently obtained almost $600,000 from 127 clients through his position as Principal Accountant at Absolute Accounting on the Central Coast, … Continued
By API User
Former tax agent, Gavin Swan has been sentenced to 5 years in jail with a non-parole period of 3 years. for fraudulent behaviour and dealing with the proceeds of crime. Mr Swan was also ordered to repay $600,000 to victims ‘This case involved fraudulent activities, including theft and money laundering of approximately $600,000 from over … Continued
By API User
More money in retirement may be on the table for Australians currently missing more than $17.8 billion in lost and unclaimed superannuation. Latest data from the Australian Taxation Office (ATO) has revealed many Australians have forgotten to update their contact details so their super fund can’t find them. Deputy Commissioner Emma Rosenzweig said the ATO … Continued
By API User
A Perth man has been sentenced to 2 years in jail, to be released after having served 6 months for dealing with the proceeds of crime through GST fraud, contrary to s 400.4(3) of the Criminal Code (Cth). Mr Lee Sheridan provided his personal details to another person, wilfully blind that the person would use … Continued
By API User
Rob Heferen, Commissioner of Taxation Commissioner’s address to The Tax Institute’s Tax Summit 2024 Sydney 12 September 2024(Check against delivery) Thank you Scott for the kind introduction, and thank you to The Tax Institute for hosting a great event. I’d like to acknowledge the Traditional Owners and Custodians of the land that we meet on, … Continued
By API User
The Australian Taxation Office (ATO) is giving taxpayers some simple steps to help avoid an unexpected tax bill next tax time. Assistant Commissioner Rob Thomson said there are many reasons that a taxpayer may end up with a bill at tax time. ‘There are a number of factors that impact your tax assessment. In simple terms, if … Continued
By API User
A former tax agent and his client have been sentenced to a combined 10 years and 6 months in jail for fraudulently claiming tax refunds and intentionally avoiding paying income tax, contrary to section 134.2(1) of the Criminal Code (Cth). Banned tax agent Ravindra Narayan from Melbourne was sentenced to 5 years and 6 months imprisonment, with … Continued
