ATO tax time support

ATO tax time support

ATO tax time support: COVID-19 and natural disasters The ATO has a range of year-end tax time options to support taxpayers who have been affected by the COVID-19 pandemic and recent natural disasters. Income statements can be accessed in ATO online services through...
2021 FBT returns are due

2021 FBT returns are due

If your business has provided fringe benefits to your employees, you should be aware that the 2021 FBT return (for the period 1 April 2020 to 31 March 2021) is due, and payment of any associated FBT liability is required immediately. If you prepare your own return, it...
ATO’s discretion to retain refunds extends to income tax

ATO’s discretion to retain refunds extends to income tax

As a part of a suite of measures introduced by the government to combat phoenixing activities, the ATO now has the power to retain an income tax refund where a taxpayer (including both businesses and individuals) has outstanding notifications. The discretion to retain...
ATO data-matching targets rental property owners

ATO data-matching targets rental property owners

The ATO has announced it will run a new data-matching program to collect property management data for 2018–2019 to 2022–2023 financial years and will extend the existing rental bond data-matching program through to 30 June 2023. Each year the ATO conducts reviews of a...
Are you ready for Tax Time 2021?

Are you ready for Tax Time 2021?

Don’t jump the gun and lodge too early Tax time 2021 is almost here, but it’s likely to be anything but routine. Many people on reduced incomes or who have increased deductions may be eager to lodge their income tax returns early to get their hands on a refund....
NSW announces tougher penalties for payroll tax avoidance

NSW announces tougher penalties for payroll tax avoidance

The NSW Government has announced that it will introduce new legislation to increase penalties for payroll tax avoidance, as well as providing it with the ability to name taxpayers who have underpaid payroll tax on wages. The changes are directed at those employers who...