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WEBATO offers guidance to NFPs on assessing charitable purposes. Taxpayer ordered to pay $24.4m to ATO over unpaid tax debts. ATO SMSF auditor referrals see slight uptick for FY23–24. Little progress on superannuation and other measures. Merchant decision ‘does not displace longstanding principles’,... ‘You will be caught’ over NDIS ...
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WEB2 days ago · News and intelligence for Australian Accountants, focusing specifically on issues and industry developments of significance to the accounting profession
ATO provides further guidance on SuperStream issues
WEBThe ATO has released further guidance on SuperStream rollovers along with updated tips on how to minimise delays when rolling super to or from an SMSF. By Tony Zhang • 23 December 2021 • 12 minute read. The ATO has recently updated guidance for SMSF trustees and members who wish to transfer their super to or from another fund, as well as ...
ATO to sool debt collector on 150,000 taxpayers - Accountants Daily
WEBRecoveriescorp has been engaged by the Tax Office in its first use of a collection agency since the pandemic. The ATO will refer up to 150,000 taxpayers to a debt collection agency before the end of June in “decisive and swift” action to recover millions owed by those “with the capacity to pay”. In its first post-pandemic use of an ...
Three ways to solve all your s100A problems - Accountants Daily
WEBGo green. The second way to stop the ATO attacking a trust arrangement (on its face) under s100A is to keep arrangements within the green zone scenarios as discussed in the ATO documents. Basically, this is the “swim between the flags” method.
BDO Australia cracks $400m revenue in record result
WEBBDO Australia has posted a record result of more than $400 million in revenue for 2021–22, up 15.5 per cent on the previous financial year. BDO chief executive partner Tony Schiffmann said the figure — $403,426,678 — was an important landmark for the firm. “Exceeding $400 million in revenue is a key milestone for us,” he said.
Latest Accounting News - AccountantsDaily | Accountants Daily
WEBSep 6, 2024 · SMEs at risk of cyber crime, MYOB data reveals. The latest news focusing specifically on issues and industry developments that are of significance to the accounting profession.
ATO flags super guarantee charge deadline | Accountants Daily
WEBBusinesses that have trouble paying employee super will need to lodge before 30 May. Employers that will struggle to pay an employee's minimum superannuation guarantee (SG) amount on time and to the right fund, must remember to pay the superannuation guarantee charge (SGC) this tax time, says the ATO. “We understand that paying your employees ...
Former liquidator pleads guilty to siphoning $2.5m
WEBThe administrator of five troubled companies transferred money to his business and for personal use, court hears. A former liquidator has appeared in court on charges of dishonestly using his role to transfer almost $2.5 million from companies under administration. Peter Andrew Amos appeared in the Downing Centre Local Court Sydney this …
Main residence exemption myths and misconceptions
WEBWhen it comes to taxation, the family home is sacred. It is often the largest asset a taxpayer will own, and we all know that the family home is exempt from capital gains tax (CGT).This perception has caused many governments to remain gun shy about making changes that would lessen the generous concession available to homeowners; the main residence exemption (MRE).
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