Taxation

With COVID-19 also resulting in many of us working from home more often or even for the first time, the Australian Taxation Office (ATO) has announced a new shortcut method for work-from-home deductions.

How public practitioners can get ready for tax time


Discretionary trusts are on the Australian Taxation Office’s (ATO) radar as the regulator steps up its efforts to clamp down on tax avoidance.

Discretionary trusts in the ATO spotlight


Globally, most businesses have taken a major hit financially due to various governments’ responses to COVID-19, and many will not survive the COVID-19 lockdown phase.

Are higher taxes the best way to shore up the economy?


Property stamp duties are entirely pegged to market conditions, and therefore are an inherently unstable revenue source for the states and territories.

Should land tax replace stamp duty in Australia?


The Sydney Harbour Bridge is illuminated by a New Year’s Eve fireworks display on 31 December 1999. The Goods and Services Act was introduced earlier that year.

GST in Australia 20 years on: looking back on taxing times


In the past few federal budgets, the ATO has received funding increases that it has used to address the income tax gap and the black economy.

The ATO ups its compliance game. Here's what that means for taxpayers.


The Black Economy Taskforce estimated the black economy could be worth as much as 3 per cent of national GDP, or about A$50 billion a year.

Public swamps ATO tip-off line on black economy behaviour


According to figures provided by the AAT, last year about 30 per cent of people who took a tax dispute to the Tribunal were represented by their accountant/tax agent.

AAT a potential minefield for tax disputes


Tax Commissioner Chris Jordan.

ATO Commissioner Jordan on incorrect tax claims on rental income


While showing appropriate empathy, the ATO also needed to identify tax advisers who consistently use aggressive tactics.

ATO Commissioner: we’re getting better at identifying problem tax advisers


Under the new laws, a tax whistleblower has many contact points within and external to an organisation to make disclosures.

What the new tax whistleblower laws mean for disclosure


The majority of gamblers lose, so any additional government revenue from taxing winnings would be insignificant.

Should your gambling winnings be taxed?


When accountants allow or encourage dodgy tax claims, their clients speak with friends and the problem becomes greater for the entire industry.

Outrageous tax claims: why are they so popular?


Tax audit protection is not mandatory for accounting professionals and some prefer to self-insure – putting money aside to pay the costs should they or a client ever come under the spotlight.

Is it ethical to self-insure?


Without the systems and processes to cope with the rush, many practices struggle with the EOFY workload.

Not waving but drowning: How to cope with the EOFY tsunami


The ATO will be looking very closely at rental deductions this year and their detection methods are becoming more advanced.

Tax Office priorities for tax returns 2019


Single Touch Payroll is a great opportunity for streamlining payroll and reporting processes.

STP: pay day's digital revolution


EOFY is a good time to check the financial health of your business. Comparing your results with previous annual figures and similar businesses in your industry will help you identify strengths and key areas of weakness or potential threats.

11 EOFY resolutions for your small business


Lighting, heating, and ventilation and cooling (HVAC) systems typically consume the most energy in a small business.

SPONSORED CONTENT: Energy-smart ways to use the EOFY instant asset write-off


Various ideas for digital taxes have been floating around the international tax community, using terms such as “virtual PE” and “formulary intangibles”.

Digital tax: what happens when the taxman takes on the cloud?


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