by Team Garnet | Apr 1, 2023 | ATO, Tax News
The ATO Second Commissioner, Jeremy Hirschhorn, recently spoke at a conference that provides some insights into how the ATO will be closing the tax gap. He outlined how the ATO is transforming tax administration by using tax gap data collected. Essentially, the tax...
by Team Garnet | Mar 18, 2023 | ATO, Tax News
The ATO can now issue a tax-records education direction which will require an entity to complete an approved record-keeping course in lieu of a penalty. Late last year, the Treasury Laws Amendment (2022 Measures No 2) Bill 2022 passed Parliament and received Assent....
by Team Garnet | Mar 10, 2023 | ATO, Small Business, Tax News
A Taxpayer Alert has been issued warning taxpayers to avoid arrangements where private company profits are accessed tax-free through the use of an interposed holding company. The ATO has recently issued this Taxpayer Alert warning, that it is reviewing arrangements...
by Team Garnet | Mar 1, 2023 | ATO, Tax News
ATO is looking to finalise a number of FBT related issues currently under consultation relating to car parking and electric cars. With 2023 in full swing, the ATO is looking to finalise a number of FBT related issues currently under consultation. For businesses, the...
by Team Garnet | Jan 27, 2023 | ATO, Money
Scammers are taking advantage of this time of the year when people are still in holiday mode with a new ATO impersonation scam on social media. Money never sleeps, as the old quote goes, but it could apply equally well to scammers. As most people have let their guard...
by Team Garnet | Jan 19, 2023 | ATO, Tax News
The non-deductible threshold for work-related self-education expenses of $250 has now been removed. The government has reintroduced and passed a raft of measures that faced an uncertain fate when the House of Representatives was dissolved and the Senate prorogued due...
