One of the areas of particular interest to the ATO is s 100 of the ITAA 1936. This article looks at what s 100 is, why it has garnered significant attention in recent years, and respective guidance for tax advisors.
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Are spreadsheets hindering your indirect tax processes?
Spreadsheets have their place, there’s no doubt about that. But the way they’re being used in the indirect tax world right now is a cause for concern.
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Practical compliance guidelines for employee travel: Practically perfect?
This article considers whether the ATO’s Practical compliance guideline for employee travel is the silver bullet employers were seeking.
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ATO data-matching for motor vehicle registrations
The ATO has gazetted a Notice which will enable it to acquire motor vehicle registry data from State and Territory motor vehicle registry authorities for the period 2019-20 to 2021-22.
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Super fund trustees must invest money in their member’s best financial interest
Recent media reports suggest that the Retail Employees Super Trust (REST) reached an out of court settlement with a litigant who wanted to force the REST trustees to take climate change seriously.
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Regulation of Auditing: Senate Committee report tabled
The Parliamentary Joint Committee on Corporations and Financial Services has tabled its final report into the Regulation of Auditing in Australia.
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Phoenixing in ashes: new law targets accountants
A new law to stop companies transferring assets to avoid their liabilities could also have serious impacts for their advisers, with new civil penalties set to be imposed.
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Why documentation is vital with ATO audits
Smart, cohesive technology has triggered an increase in ATO tax audits in the past 12 months. Organised and accurate documentation is key to being prepared should an audit be requested.
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How to minimise the risk of a client audit
Client tax audits are costly in terms of stress, time, and money for all parties. Richard Puffe, Thomson Reuters Senior Product Manager, Tax & Accounting, ANZ, and fellow Product Manager…
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