As EOFY is fast approaching, there is a big focus on lodging tax returns. Due to this, the ATO's priority areas for 2022 have been announced.
Throughout March, the Australian Taxation Office (ATO) have sent letters to directors who are potentially in breach of their obligations
Your income statement is available online through myGov with information on your income. Read below to find out how to access yours!
The ATO have agreed to provide global data and analytics company Equifax with commercial tax default information.
Dealing with the Australian Tax Office is a very common part of our job. While it does come with challenges, it brings so many benefits to our clients that wouldn't be easily accessible if they were to try to tackle the ATO on their own.
Connecting your myGov account with the ATO and Online Services for Business (previously the "ATO Business Portal") makes your life much easier when it comes to managing your obligations as a business owner.
$120 million in JobKeeper payments has been taken back from ineligible businesses who made deliberate or reckless mistakes.
In the 2020-21 Federal Budget, the Government announced that businesses with turnover under $5 billion* will be able to offset any losses made between 2019-20 and 2021-22 against previously taxed profits between 2018-19 and 2020-21.
The ATO is cracking down on people abusing the COVID-19 stimulus system. We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed.
The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts. The review, expected to impact 350,000 taxpayers, reaches from the 2015-16 to 2019-20 financial years, revealing assets that previously may not have been disclosed or underreporting of income.