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Perth-based Jessa Van Stroe (also known as Jessa Layola) has been ordered by the Federal Court of Australia to pay $230,000 in penalties for providing tax agent services for a fee while not registered with the Tax Practitioners Board (TPB). Ms Van Stroe illegally charged clients fees to lodge returns on their behalf and … Continued
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The rise of industry levies – narrowly applied, sector-specific taxes – is creating an increasingly complex and inefficient tax system that risks limiting productivity growth, according to Productivity Commission research released today. The report finds that the number of these industry levies has quietly grown from 26 to 248 since 1980 to become the ‘long … Continued
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Everybody’s Home says foreign investment changes are a good step, but the government must now end handouts for domestic investors. In a bid to boost housing supply, the government has announced it would increase fees for foreign investors who leave properties they own in Australia vacant. Everybody’s Home spokesperson Maiy Azize said the … Continued
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A Queensland woman has been sentenced in the Cairns District Court this week to 3 years in prison after obtaining almost $283,000 in fraudulent GST refunds contrary to s134.2 of the Criminal Code (Cth). Deborah Martin pleaded guilty to 11 charges of obtaining a financial advantage by deception from the Commonwealth, namely GST credit refunds from the Australian Taxation Office (ATO) … Continued
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Chartered Accountants Australia and New Zealand welcomes and congratulates Mr Rob Heferen on his appointment as Commissioner of Taxation. Mr Heferen is well known and highly regarded in the tax profession having previously served as Treasury’s Revenue Group leader. He has written extensively on a broad range of tax policy issues. He led the … Continued
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The Hon Dr Jim Chalmers MP, Treasurer, has today announced the appointment of Mr Rob Heferen as the next Commissioner of Taxation, Registrar of the Australian Business Register, the Australian Business Registry Services, and Register of Foreign Ownership of Australian Assets. Mr Heferen has been appointed to a 7-year term starting 1 March 2024. Current … Continued
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Late lodgment penalties will be remitted under the amnesty which ends on 31 December 2023 for small business income tax returns, fringe benefits tax (FBT) returns and business activity statements (BAS) originally due between 1 December 2019 and 28 February 2022. More than 14,000 small businesses have taken advantage of the amnesty since it kicked off on 1 … Continued
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The Australian Taxation Office (ATO) welcomes the decision by the Federal Court in relation to PepsiCo, Inc. v Commissioner of Taxation. The Court delivered an oral judgment yesterday with the full judgment subject to confidentiality orders. This decision confirms PepsiCo, Inc. (Pepsi) is liable for royalty withholding tax and, in the alternative, diverted profits tax … Continued
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The Australian Taxation Office (ATO) has launched a suite of new protections to help secure people’s personal information amid an unprecedented rise in identity-related fraud attempts. ATO Deputy Commissioner and Chief of the Serious Financial Crime Taskforce (SFCT) John Ford said there had been an increase in the pace and scale of criminals using people’s … Continued
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CHARTERED ACCOUNTANTS ANZ CALLS FOR CONSULTATION ON GOVERNMENT DECISIONS IMPACTING THE ACCOUNTING AND AUDITING PROFESSION Chartered Accountants ANZ (CA ANZ) has raised concerns about the lack of consultation on issues impacting the accounting and auditing professions following an announcement today regarding the amalgamation of the Australian Accounting Standards Board (AASB), the Auditing and Assurance … Continued
