News and Media

ATO early engagement Review Letters explained

17th June 2016

Tailored and proactive engagement is a recurring theme in the Australian Taxation Office’s (ATO) program blueprint for ‘reinventing’ itself. A tangible outcome of this new approach is the ‘Early Engagement Review’ letter (Review Letter). Some taxpayers or their tax agents have already received these Review Letters, and we expect the number of these letters to increase.

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Making friends with your tax audit: What can it teach us?

3rd June 2016


“Embrace your tax audit” are the last words you’d expect to drop from the lips of a financial advisor, but that’s exactly what the head bean-counter from First Class Accounts is asking us to do.

Clive Barrett, Executive Chairman of First Class Accounts, said the very idea of a tax audit struck fear into the hearts of small business owners across the country, however that frown could be turned upside down if we instead looked at the situation as an opportunity for growth.

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Budget 2016 at a glance

4th May 2016

The government has handed down the 2016-17 federal budget. Here are some of the highlights.

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Big business wins, SMEs lose from a company tax cut

26th April 2016

A company tax cut has been a divisive feature of pre-budget commentary. Business lobby groups have reacted strongly to modelling produced by Victoria University’s Centre of Policy Studies, which shows that a company tax cut will stimulate growth in GDP and pre-tax real wages, but will cause a fall in domestic income.

Yet a closer look is warranted at the business and industry impacts of a cut to company tax that should be kept in mind as policymakers finalise the May 3 federal budget.

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