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Assuming last is required, the following 3591 results were found.

  1. Victoria building developer in hot water over ‘calculated’ GST fraud

    found he claimed more than half a million dollars in fraudulent GST refunds. Appearing in the County Court of Victoria last week, Simon Petzierides was sentenced to three years in jail for tax fraud. The matter comes as a result of an ATO investigation...

  2. Victoria announces $250m targeted business support package

    will offer welcomed reprieve to some businesses facing extreme uncertainty after the state entered its fourth lockdown last week, others think the package is light on detail, and is unlikely to cover the losses suffered. Victorian acting premier James...

  3. Viable businesses should ‘focus’ as Australia braces for insolvency bump

    tipped to pivot to a post-pandemic compliance crackdown. “While the ATO has been very quiet for almost 12 months, that won’t last,” he said. “And that’s when we expect to see the insolvency wave building.” The ATO’s debt book grew to $53 billion over...

  4. Vanuatuan matriarch’s $33m sent to brother not taxable, court rules

    sister Graziella Leong, owner of Au Bon Marche (ABM), a prominent Vanuatu-based supermarket chain. The Federal Court ruled last week that the income tax assessments were “excessive” and that the ATO overlooked the family dynamics of the Cheung-Leong...

  5. Value Packed Accounting Software for the Cost of Living Crisis | QuickBooks Australia

    business growth. The Australian offering includes two new releases, QuickBooks Online Advanced and QuickBooks Ledger in the last year alone, demonstrating commitment to Aussie product development. Our pricing will surprise you QuickBooks is...

    • Type: Article
    • Author: Intuit QuickBooks
    • Category: Business
  6. Value behind traditional lodgements is diminishing, says the ATO

    from somewhere else. So, do we need it?” Mr Hirschhorn’s comments come after Commissioner of Taxation Chris Jordan flagged last year that the ATO could soon be automating business activity statements (BAS) by tapping into a business’s natural systems,...

  7. Vacancy tax expansion: Getting your house in order by 1 July

    The vacancy residential land tax (VRLT) was expanded late last year to apply to all residential land in Victoria and not just specific inner suburbs within metropolitan Melbourne. The expansion commences from 1 January 2025, and applies the VRLT based...

  8. Ute tax loophole costs government $250m

    The research paper stated the number of utes on the road compared to passenger vehicles has grown significantly in the last 20 years. The Australia Institute outlined the tax exemption on utes provides people with more of an incentive to buy them,...

  9. Using journals to make Div 7A loan repayments

    deemed dividend because the MYR is taken not to be made In practice There has been a renewed focus by the profession in the last decade on making trustee resolutions by 30 June. Equal regard should be given to the declaration of dividends. It is...

    • Type: Article
    • Author: Robyn Jacobson, The Tax Institute
    • Category: Business
  10. Use data prefills or raise a red flag, ATO warns

    through third-party sources such as employers, financial institutions, private health funds and government agencies. Last year the ATO amended over 400,000 individual tax returns by using data that was available through the prefill service but was...

  11. US market facing similar compliance threats

    values should compliance work be their sole service offering. Speaking to AccountantsDaily at the Sage Summit in Chicago last week, Sage’s executive vice-president for product marketing Jennifer Warawa said there are many accountants in the US market...

  12. Update clients’ financial institution details for unclaimed super: ATO

    details are updated this tax time. The ATO has since paid out over $120 million in lost and unclaimed super over the last six months to individuals, after recent legislation passed, seeing inactive low-balance super accounts transferred to the Tax...

  13. Upcoming budget tipped to target popular deductions

    I wouldn’t be surprised at all if it used the upcoming budget to come down hard on work-related expenses,” Mr Drum said last month. [email protected]

  14. Up to 9 in 10 ‘other’ expenses adjusted as ATO reveals dodgy claims

    Close to 90 per cent of claims in ‘other’ deductions were adjusted last year as the ATO reveals a number of unusual claims it disallowed, including a $58,000 wedding. ATO assistant commissioner Karen Foat has revealed that nearly 700,000 taxpayers...

  15. Unregistered tax preparer fined $1.8m for record TASA breaches

    years, the largest number of violations ever prosecuted by the Tax Practitioners Board in the Federal Court. In a judgment last week, Justice Wendy Abraham also permanently banned Jayden Van Dyke from providing tax agent services without proper...

  16. Unregistered agent cops additional jail time, fine for repeated offences

    continuing to provide tax agent services despite an injunction ordering him not to do so. The Federal Court of Australia last week sentenced Kent Scott Hacker to seven months in jail and issued his company, One Stop Global Staffing Pty Ltd (OSGS), with...

  17. Unregistered agent arrested as Treasury considers new TPB sanctions

    said the case demonstrated the ability for various agencies to work together to crack down on unregistered preparers. Late last month, the ATO said it was concerned about the number of people claiming to be tax agents, often promising refunds that sound...

  18. Unpopular accountants’ licence tipped for chopping block

    ASIC will turn around and say, ‘This is just causing everyone more work for no added benefit’”. Accountants Daily reported last week that while interest in providing SMSF services is on the rise with accountants, the majority of accounting firms rate...

  19. Unpaid overtime surges amid the pandemic

    their state.” The new data emerges off the back of the introduction of new Fair Work Annualised Wages legislation in March last year, which offers guidelines to employers to help capture hours of work, and encourage them to electronically record a...

  20. Unpacking the federal budget

    an increase in the offset of $420. Against some expectations, the LMITO was not extended into 2022–23, so 2021–22 is the last year this offset is available. This measure will provide some additional support from 1 July 2022 following lodgment of 2022...