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Advice and tips from the ATO to help untangle client conundrums

The ATO has provided links to tips and advice for tax professionals about common errors, plus other topics of interest, practitioners may come across in their various dealings with clients — both individual taxpayers and business clients. Advice and tips from the ATO to help untangle client conundrums For your practice, find out about: Where

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‘Hiding the complexity’ — internal ATO documents released

At a Press Club address earlier this year, Commissioner Chris Jordan said part of his job is to help taxpayers by “hiding the complexity” of our tax system. Suna Rizalar, from the ATO’s Public Advice and Guidance, says one way the ATO tries to make it easier for taxpayers “is by engaging with the community

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Giving voice to practitioner needs

Besides providing relevant and easy to understand guidance on taxation and superannuation matters, Tax & Super Australia works to represent the views of its members and stakeholders, through the media, the ATO and the government. Giving voice to practitioner needs Tax Practitioners Stewardship Group The Tax Practitioner Stewardship Group (TPSG, previously known as the ATO

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Avoiding the more common BAS mistakes

The ATO knows that business taxpayers can make errors when lodging their business activity statement (BAS) and reporting their GST transactions, even with the best intentions of getting it right. Research the ATO has carried out in the past has indicated that more than 80% of GST errors are unintentional and can be made by

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Profit-making “intention” of asset ownership can influence tax outcome

A profit that arises from the carrying out of a profit-making undertaking or plan (that is, one with a profit-making intention) will be assessable as statutory income under s15-15 of the ITAA97 where the proceeds of the profit-making undertaking or plan are not otherwise assessable as ordinary income under s6-5 ITAA97. Profit-making “intention” of asset

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