By API User
The Australian Taxation Office (ATO) is reminding rental property owners and their tax agents to take care when lodging their tax return this tax time. ATO Assistant Commissioner Tim Loh explained that the ATO’s review of income tax returns show 9 in 10 rental property owners are getting their return wrong. ‘Landlords and their registered tax agents … Continued
By API User
A Mildura man has been sentenced in the County Court of Victoria this week to 7.5 years in prison after obtaining more than $830,000 in fraudulent GST refunds contrary to s134.2 of the Criminal Code (Cth). The Australian Taxation Office (ATO) says this latest result of the extensive efforts under Operation Protego serves as a warning to … Continued
By API User
A Perth man was sentenced yesterday in the Perth District Court to two years’ imprisonment to be released after serving 12 months, after obtaining almost $110,000 in fraudulent GST refunds contrary to s134.2 of the Criminal Code (Cth). He will be released on a recognisance in the sum of $1000 to be of good behaviour for … Continued
By API User
The Australian Taxation Office (ATO) is continuing to provide dedicated support to taxpayers this tax time. Assistant Commissioner Tim Loh acknowledged that for some, tax can seem overwhelming. ‘The ATO is here to help with the support you need to get it right this tax time.’ Tax Help The Tax Help program is a free … Continued
By API User
Lodging tax returns is often done with a sense of expectation, knowing that it could lead to a tax refund. In 2021, for example, the average tax refund for Australian taxpayers amounted to $2800. However, this year, there’s a possibility this figure could be notably reduced, or even lead to taxpayers owing the Australian Tax Office (ATO) money. … Continued
By API User
ACOSS is urging governments to “get real” about tax reform to raise more revenue, as the Intergenerational Report forecasts a rise in spending on essential services and social safety nets to meet community needs over coming decades. The federal government must raise the revenue required by strengthening the progressive tax system. ACOSS is calling on … Continued
By API User
The Australian Taxation Office (ATO) is reminding businesses who are required to lodge a Taxable payments annual report (TPAR) to do so by 28 August 2023. ATO Assistant Commissioner Tony Goding said the Taxable payment reporting system helps maintain a level playing field by ensuring all businesses pay their fair share of tax. ‘While most … Continued
By API User
This fraud did not cost the tax office $4.6 billion as reported in the AFR this morning. In our Annual Report to June 2022 we reported a cost of $1.2 billion at that time. We became aware of an increase in referrals from banks in late 2021 which escalated in early 2022. We took immediate action. There … Continued
By API User
Get ready for the pinnacle event in Australia’s accounting and finance calendar – Accounting Business Expo. Scheduled for 22 & 23 November, 2023, at ICC Sydney, this year’s event, presented by Terrapinn Australia, promises an unparalleled experience of insights, networking, and innovation. As the largest and most comprehensive expo of its kind in Australia, the … Continued
By API User
The Australian Taxation Office (ATO) is giving taxpayers with simple affairs the ‘green light’ to lodge their annual income tax returns. ATO Assistant Commissioner Tim Loh said that most taxpayers with simple affairs will find the information they need to lodge has now been pre-filled in their tax return. ‘Most of the information we collect … Continued
