tax

What is Australia’s “tax gap”, and how is it measured?

Every year, the ATO measures its revenue and compares that total against the amount of revenue it expected to make. Often, the two numbers are different. The ATO has labelled that discrepancy the “tax gap”. The ATO’s projected revenue total is based on the amount of tax “theoretically payable” in a given year, assuming every

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Super schemes: If in doubt, check it out

The ATO says about super schemes, if in doubt, check it out. The ATO says it has seen an increase in aggressive tax planning schemes targeting retirement savings, at a time when more than one third of Australians are approaching retirement and are looking at ways to maximise their retirement assets and income. Super schemes doubt

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Cash economy: The taxman has his own idea about “living expenses”

The ramifications of Australia’s “cash economy” is a pebble in the ATO’s shoe that it is constantly looking to dislodge. And the taxman has his own idea about what constitutes “living expenses”. Cash economy taxman idea living expenses. One of the tools that it has developed to achieve this is a set of guidelines looking

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Taxpayers Australia becomes Tax & Super Australia

Keeping up with the rapidly changing tax and super landscape To reflect our changing focus over time, Taxpayers Australia Ltd is now Tax & Super Australia. We are more dedicated than ever in our efforts to support and empower tax and super professionals. After an extensive re-branding exercise, we’ve developed a new visual identity. The

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Tax Time 2016: The ATO releases more essential materials

The ATO has released the following Tax Time 2016 essential materials. More will be added as they are available. 2016 standard distribution statement: guidance notes for fund managers Standard distribution statement for use by managed funds to report tax information to resident individual investors for the 2016 income tax year. Includes guidance notes and sample

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