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Tax on shares ATO extends data matching program

By WSC Group | Created on December 8, 2018

The Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades.

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ATO guidance regarding 'downsizer contributions'

By WSC Group | Created on December 8, 2018

The ability to make 'downsizer contributions' effectively commenced on 1 July 2018, prompting the ATO to release further guidance with respect to this new superannuation contribution classification.

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External collection agencies to enforce ATO lodgment obligations

By WSC Group | Created on December 8, 2018

The ATO has finalised a trial relating to sending overdue taxpayer lodgment obligations to external collection agencies.

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Contractor or employee? Defining workers in the gig economy

By WSC Group | Created on December 8, 2018

A former Foodora Australia delivery rider, Joshua Klooger, recently won an unfair dismissal claim despite a service agreement that classified him as an independent contractor. We explore the implications of the case.

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Improvements to employee share schemes announced

By WSC Group | Created on December 8, 2018

The ATO has finalised a trial relating to sending overdue taxpayer lodgment obligations to external collection agencies.

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No tax deductions if you don’t meet your tax obligations

By WSC Group | Created on December 8, 2018

New laws passed by parliament last month directly target the behaviour of taxpayers that don’t meet their obligations.New laws passed by parliament last month directly target the behaviour of taxpayers that don’t meet their obligations.

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Company loans to shareholders under review

By WSC Group | Created on December 8, 2018

The Government has released a consultation paper outlining proposed reforms to ‘simplify’ the loan agreements that are generally required when a shareholder (or their associate) borrows funds (or receives a payment) from a related company.

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ATO to send text messages if bank account details incorrect

By WSC Group | Created on December 8, 2018

The ATO has advised that it will send SMS text messages directly to taxpayers where incorrect bank account details were included in their tax returns and they were entitled to a refund.

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ATO contact regarding business cars and Fringe Benefits Tax ('FBT')

By WSC Group | Created on December 8, 2018

The ATO has recently advised that it will be contacting taxpayers (and tax agents on behalf of their clients)that have been identified as having cars registered in their business name who have not lodged an FBT return.

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Christmas Parties & Gifts 2018

By WSC Group | Created on December 6, 2018

With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event.

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