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The Tax Practitioners Board (TPB) is warning the public to be extra cautious this tax time and to be on the lookout for fake tax agents, also called unregistered preparers, trying to lure taxpayers into using their tax services. Unregistered preparers operate outside of the law. They are often unqualified, poorly trained, and uninsured. Many … Continued
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The Administrative Appeals Tribunal (AAT) has upheld the Tax Practitioners Board’s (TPB) decision to terminate Ms Jennifer Clifford’s tax agent registration, after she misled the TPB and Australian Taxation Office (ATO) and had significant outstanding tax debts. Investigations revealed Ms Clifford made false and misleading statements to the TPB on her renewal application. She stated … Continued
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In response to orders issued by the Tax Practitioners Board (TPB), PricewaterhouseCoopers (PwC) has produced and published a Compliance Report dated 14 July 2023. The TPB’s Order, was issued on 25 November 2022, and requires PwC to take specific actions to improve its compliance and conflict of interest management. PwC must report to the TPB … Continued
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[Wednesday 5 July 2023]: Sydney – The Sydney practice of Nexia (www.nexia.com.au), a leading, global network of independent accounting and consulting firms, today announced a change in leadership amid a period of deliberate and ongoing growth. After an impressive tenure as Managing Partner since May 2014, Paul Lenton is stepping down from the role, … Continued
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The Australian Taxation Office (ATO) is warning taxpayers to think twice before ‘copying and pasting’ work-related claims from last year’s tax return. ATO Assistant Commissioner Tim Loh said there are some key changes to look out for this tax time when claiming your deductions. ‘When you’re getting ready to lodge, consider the records you have … Continued
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Microbusinesses, usually family-owned businesses, sole traders and gig economy workers, make up a significant 60 per cent of small businesses in Australia. For most Australian taxpayers, the prospect of a tax refund brings an additional boost, with returns averaging around $2800 per year. But for others, it’s crucial to acknowledge that not everyone experiences the … Continued
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With tax time around the corner, the Australian Taxation Office (ATO) is reminding taxpayers not to rush lodging their annual income tax return from 1 July. Taxpayers who lodge before their income statement is marked as ‘Tax ready’ and their other pre-fill information has been received run the risk of processing delays and follow-up questions … Continued
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3 things small businesses need to know before 30 June With tax time just around the corner, the Australian Taxation Office (ATO) is reminding small businesses about three things to be aware of ahead of the end of financial year: the new small business boost is now available temporary full expensing ends 30 June 2023 … Continued
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The Australian Taxation Office (ATO) has today reinforced its commitment to strengthening its relationship of trust and confidence with the Australian community with the launch of a refreshed ATO Charter. The ATO Charter, previously known as the Taxpayers’ Charter, explains what people can expect when they interact with the ATO, the ATO’s commitments to them, … Continued
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Associate Professor Yan Xu, School of Accounting, Auditing and Taxation, UNSW Business School, can comment on Tax Policy and Tax Equity & Justice. Yan can be reached on her mobile at +61290657527 or by e-mail [email protected]. Associate Professor Ann Kayis-Kumar, School of Accounting, Auditing & Taxation, UNSW Business School, can comment on National Tax Clinics … Continued
