The Tax Office has developed a framework aimed at better supporting people experiencing vulnerability when they interact with the tax system.
The High Court has granted the Commissioner of Taxation special leave to appeal the Bendel decision, which challenged the ATO’s longstanding views on unpaid present entitlements.
Interest charged by the Tax Office for late payments or underpayments will no longer be tax-deductible as of 1 July.
The Tax Office has shed further light on its compliance approach towards cross-border related party financing arrangements in a recent practical compliance guideline.
Australia’s failure to mandate digital reporting practices has placed it at a disadvantage in global capital markets, CA ANZ has warned.
Advisers and accountants should adopt a common-sense approach towards claiming tax deductions for financial advice with the ATO asking questions about deductions in some instances, says the FAAA.
The Tax Office is extending the due date of governing documents by one year for self-assessing income tax exempt not-for-profits.
The ATO does not intend to revise its public rulings on work-related travel expenses and record keeping until the appeals process for the recent Shaw decision is finalised.
The ATO has released its long-awaited draft guidance on transfer pricing risk, with consultation on the new guidance open until 30 June.
The professional body is urging the Tax Ombudsman to analyse the ATO’s powers under section 167 of the Income Tax Assessment Act and its reliance on burden of proof as part of the systemic reviews. ...
The Tax Office has announced it will make changes to how prefill information can be accessed by agents for compromised taxpayer accounts.
Accountants have been warned about family trust issues that can lead to unexpected tax bills for clients, with the ATO scrutinising this area.
