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ATO asks businesses to check if they are still using their ABNs
By WSC Group | Created on May 5, 2021
The ATO has advised that if a business hasn’t used its ABN for a while, the ATO may contact them about cancelling their ABN.
JobMaker fails to boost employment
By WSC Group | Created on May 5, 2021
The Government’s JobMaker scheme has only created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses registering their interest in the scheme.
Passenger movement data-matching program
By WSC Group | Created on May 5, 2021
The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years.
Government proposal to modernise business communications
By WSC Group | Created on May 5, 2021
The Government has committed to modernising certain laws so that they are 'technology neutral', to enable easier communication between businesses, individuals and regulators.
ATO "keeping JobKeeper payment fair"
By WSC Group | Created on May 5, 2021
While most businesses and employees have done the right thing, the ATO has identified concerning and fraudulent behaviour as well as claims by a small number of organisations and employees, and will actively pursue these claims.
Independent review service for small businesses made permanent
By WSC Group | Created on May 5, 2021
Following a successful multi-year pilot, the ATO’s small business independent review service will be offered permanently as a dispute resolution option for eligible small businesses.
ATO targets profits of professional service firms
By WSC Group | Created on May 5, 2021
The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers, architects etc.
Warning regarding new illegal retirement planning scheme
By WSC Group | Created on April 10, 2021
The ATO has recently identified a new scheme where SMSF trustees were informed that they could set up a new SMSF to roll-over the fund balance from the old SMSF and then liquidate their old SMSF, in an attempt to avoid paying potential tax liabilities.
The 1 July 2021 superannuation changes
By WSC Group | Created on April 10, 2021
Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.
ATO's taxable payments reporting system update
By WSC Group | Created on April 10, 2021
The ATO has confirmed that more than 60,000 businesses have not yet complied with lodgment requirements under the taxable payments reporting system ('TPRS') for 2019/20.
