Tag: ATO

Australian Workers Waiting 11 Months for Unpaid Superannuation

Workers who lodge an unpaid superannuation related complaint with the Australian Tax Office (ATO) have to wait eight months on average for their case to be closed, and it’s a lag that the Government needs to address, politicians and super experts have warned. Over the duration of the 2021-21 financial year, the average time between […]

ATO Is Being Asked to Address “Super Rip-Off” Impacting Queensland Workers

A national body has asked the Australian Tax Office (ATO) and politicians to do something to overhaul super contributions in Queensland, as new research is showing that the state’s cumulative unpair super debt has climbed past $5 billion in recent years. According to Industry Super Australia’s (ISA) analysis of tax data, more than 570,000 Queensland workers […]

The ATO Plans to Auto-Call ABN Cancellations

The Australian Tax Office (ATO) has announced that Australian Business Number (ABN) holders or their accountants might be contacted by the tax office during the months of November and December 2021 as it moves to automate its ‘intent to cancel’ program. ABNs can be selected for the cancellation program if the tax office cannot detect […]

The ATO Says It Can’t Rely on Crypto Users Own Records

The Australian Tax Office (ATO) has said that it is unable to rely on cryptocurrency investors to keep track of their crypto related transactions and profits, despite most investors trying their best to provide the ATO with the correct information. “Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only […]

Australian Government Confirms Director ID Deadline

Current Australian directors will now be given 12 months to apply to receive their unique director identification number before fines of over $1.1 million kick in for non-compliance. Existing company directors will now be required to apply for a director identification number (director ID) by the 30th November 2022. Directors of Indigenous corporations that are […]

Listed Companies Are Required to Report JobKeeper Grants

Recently announced legislation means that listed entities are required to separately notify the market of JobKeeper payments even if that information has been included in the entity’s annual financial report. The legislation known as The Treasury Laws Amendment (2021 Measures No. 2) Act 2021 was announced by the Australian Government in September 2021. The announcement […]

Covid Disaster Payments In NSW and ACT Have Been Discontinued

Residents of NSW and the ACT who have been receiving Covid-19 Disaster Payments have been told that their payments were officially discontinued on Friday 8th October. The discontinuation comes as the two jurisdictions both reached the 70 percent vaccination threshold target. In an update made on Friday 8th October, Services Australia confirmed that the payments […]

Australian Government Expands Eligibility for Business Recovery Loans

The Australian Government has announced that it will be loosening criteria for its SME Recovery Loan Scheme. The newly introduced changes mean that business with a turnover of up to $250 million will now have access. Prior to the new changes, the funding was only available to businesses who had received JobKeeper in the March […]

The ATO Clashes With The Senate Over The Disclosure Of JobKeeper Order

Commissioner of Taxation Chris Jordan has argued public interest immunity against a Senate order that would have required the ATO to publish a list of businesses with a turnover of more than $10 million who were recipients of the JobKeeper wage subsidy. The Senate order, moved by independent senator Rex Patrick, would have also obliged […]