The Federal Government is to continue spending more than it earns for at least the next two years at least.

Small businesses are again in the ATO’s sights this tax time. 

The ATO is urging SMSFs to get their asset valuations done before their annual audit to help avoid delays and late lodgements.

With COVID-19 lockdowns and restrictions in the rear-view mirrors of most of the country, the ATO is also beginning to resume ordinary compliance activity levels.

The ATO has raised both its general interest charge (GIC) rate and shortfall interest charge (SIC) rate for the next quarter, increasing both by more than 1 per cent. 

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There are better ways to handle a director penalty notice than leaving the letter unopened.

A boiler room operation in the Philippines has been raided following investigations into a sophisticated scam targeting SMSF money.

Proposed measures for a bonus 20 per cent tax deduction to incentivise spending on training and digital uptake are back on track.

Off-the-books transactions and side hustles have a habit of showing up the ATO’s tracing technology, says Assistant Commissioner.