ATO

Common client mistake on GST – ATO warning

Tax professionals have been reminded by the ATO of a misconception that some taxpayers continue to make each income year regarding their eligibility to make claims for GST credits. The reminder, issued in the middle of the third quarter of the 2017-18 income year, seeks to enlist the help of tax agents at more of

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Corporate tax system more robust than the headlines suggest

Recent media coverage has focused on corporate tax transparency data released by the ATO last December. The most recent data set was for the 2015-16 income year, and includes tax information for more than 2,000 large companies operating in Australia. In the face of widely dispersed commentary on Australia’s corporate tax system, and the perceived

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The ATO’s first webcast for 2018, next Monday

Over last calendar year, the ATO found a high demand for its “Tax professional conversations”, a series of webcasts. These were hosted by assistant commissioner Colin Walker, and were usually co-hosted by a panel made up of members of professional associations, tax agents, BAS agents, digital service providers (software developers) and senior ATO staff. The

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Community complaints prompt IGT to review PAYG instalments

The Inspector-General of Taxation, Ali Noroozi, has just released his review into aspects of the pay-as-you-go (PAYG) instalments system that have come to be viewed as less-than-helpful by many participants and associated stakeholders. The IGT’s review into the PAYG instalments system was conducted largely in response to feedback drawn from the IGT’s complaint handling service

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ATO nominates the FBT issues that grind its gears

March 31 and the end of the FBT year is around the corner, so to help practitioners get things right for their clients, the ATO has made public the fringe benefits tax issues that attract its attention. Broadly (not just in relation to FBT), it says the following behaviours and characteristics tend to raise a

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