ATO Crackdown on TPAR Lodgements

ATO Crackdown on TPAR Lodgements

This tax time, the ATO is cracking down on taxpayers not lodging their taxable payments annual report (TPAR) on time. It has recently issued more than 16,000 penalties for businesses who failed to lodge their TPARs for previous years despite receiving multiple...
Simplifying Individual Tax Residency: Government Consultation

Simplifying Individual Tax Residency: Government Consultation

Movement may be afoot on the complex issue of individual tax residency in Australia. In 2019, the Board of Taxation released a report which contained a proposed model for modernising individual residency. The new framework was designed to simplify the tax system and...
Tax time 2023: Lodgment Period Underway

Tax time 2023: Lodgment Period Underway

The ATO has given the green light for taxpayers with uncomplicated financial affairs to lodge their returns. It says that the information it collects from employers, banks, private health insurers, share registries and other institutions has now been pre-filled and is...
Instant asset write-off: is your business eligible?

Instant asset write-off: is your business eligible?

Remember temporary expensing, which allowed just about every business (unless annual turnover was at least $5 billion) to immediately write off the cost of an eligible depreciating asset? Well, that is no longer available. To use temporary full expensing, you had to...
Paying contractors? Get ready for your TPAR

Paying contractors? Get ready for your TPAR

Businesses that make payments to contractors may need to report these payments and lodge a taxable payments annual report (TPAR). You will need to lodge a TPAR if your business made payments in the last financial year (ending 30 June 2023) to contractors providing the...