The Australian Tax Office (ATO), is cautioning rental property owners and their tax agents to be more vigilant when it comes to filing their tax returns to avoid penalties. This is due to an earlier review of tax returns indicating that as much as nine out of 10 rental property…

In an unexpected move, the Australian Tax Office (ATO) has reportedly reactivated historic debts that were placed on hold during the pandemic and 2020 bushfires. About 300,000 affected Australians will consequently receive zero or reduced tax refunds from their latest filings. An ATO spokesperson confirmed that the value of on-hold…

The government is set to undertake a review of the Franchising Code of Conduct and its impact on fairness and competition in the sector. The regulatory framework has been amended a number of times since its introduction in 1998, including more recent changes made following recommendations from a joint committee…

The Australia Tax Office (ATO) has now given the go-ahead to taxpayers with simple affairs to lodge their annual tax returns as most information required for lodgement has already been pre-filled. This includes information from employers, health insurers, banks, share registries and other relevant institutions. However, while most information will…

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Bruce Billson, has said that small businesses were feeling shut out of government contracts due to their lack of knowledge, experience, and contacts. These businesses felt that the procurement processes were hard to navigate and they lacked the right contacts and…

When an accountant prepares a tax return in Australia, it is not uncommon for the Australian Taxation Office (ATO) or a government revenue authority to initiate an audit or review. However, this does not necessarily imply any faults in the accountant’s work – in fact a lot of the time…

As tax season gets underway, the Australian Tax Office (ATO) is advising accountants to warn their clients about possible scammers. The ATO has noticed an uptick in scammers seeking to impersonate the authority on social media platforms, where some taxpayers go to find assistance for their tax and super concerns.…