ATO

Policy & Regulation

Properties illegally held by foreigners need to be sold

The Turnbull Government has ordered 16 forced sales of properties illegally held by foreign nationals....

Policy & Regulation

Auditor-General critical of ATO on revenue commitments

Amid Government efforts to reign in the Budget deficit, an Auditor General’s report says it is unclear whether the ATO has met its compliance-related revenue commitments....

Policy & Regulation

ATO will not penalise honest tax mistakes

The ATO will not automatically impose penalties on businesses and individuals for incorrect tax returns....

Policy & Regulation

ATO reveals challenges of super changes

The Australian Taxation Office has revealed the challenges and costs associated with implementation of the Government’s Budget super changes, particularly non-concessiona...

Policy & Regulation

ATO warns large companies against tax avoidance

The ATO has warned large companies and multinationals against contrived arrangements to avoid or minimise their tax, following an investigation. ...

Policy & Regulation

Crack down on ‘phoenix’ business behaviour

The ATO deputy commission has warned individuals to be mindful of phoenix business behaviour after the ATO and the AFP executed six search warrants. ...

Financial planning

ATO flags warning on retirement schemes

The ATO has issued a warning that planners and accountants could face penalties including prosecution if they were found to have promoted retirement planning schemes....

Tools & guides

While new and existing related party limited recourse borrowing arrangements need to comply with safe harbour provisions, it is not the only option, David O’Connell write...

Superannuation

SuperStream deadline extension welcomed

The ATO’s extended deadline for small businesses to become SuperStream compliant has been welcomed by an SMSF body....

Financial planning

Former financial planner caught on tax offences

A former financial planner has been sentenced to jail after falling foul of the Serious Financial Crime Taskforce for tax offences....

Financial planning

Proceed on Budget proposals to avoid potential tax

Sticking with the current rules on non-concessional contribution caps could lead to paying double tax in the future, according to CFS....

Superannuation

Govt creates election wriggle-room on super

The Government has created election wriggle-room on super by signalling post-election consultation around its Budget changes....

Superannuation

Govt and ATO facing Budget implementation challenge

Extensive consultation will be needed between the Govt, the ATO and the financial services industry to overcome the technical intricacies of Budget implementation....