The biggest contributor to the $7.5 billion rebound in company tax collections from 2015-16 was the mining, energy and water sector, which contributed more than 75 percent of the additional tax.
The Australian Taxation Office is now well into its program of compliance reviews of the country’s top 1,100 companies checking they have the right systems in place to ensure they are paying appropriate levels of tax.
A parliamentary committee has recommended that the Commonwealth Government should undertake a review before 2022 for the purpose of identifying how Australia’s tax system can be simplified.
The ATO estimates that for 2014-15 the net individual income tax gap attributable to salary / wage earners and investors was $8.76 billion, or 6.4 percent.
The latest ATO figures show and estimated $2.85 billion did not make its way to employees’ super accounts. How can this happen?
The average expenses claim for work related expenses is $2,500. But would the conduct of some of these individual taxpayers pass the “pub test”.
The ATO has reported that this time of year and the months that follow, often sees a spike in a range of scams aimed at tricking people into providing sensitive information or paying non-existent fees that can see them out of pocket for thousands of dollars.
The focus of the Senate Inquiry’s Interim Report into Corporate Tax Avoidance, published last week, was very much on transparency. Its key recommendations included making the new voluntary tax transparency…
There was a time when VAT/GST was regarded as the ‘simple tax’. Those days are long gone. Many indirect tax regimes are becoming increasingly sophisticated – with the result that,…
There is no question large business is under close scrutiny by the ATO as G20 Summit fever kicks in as politicians from around the globe place a heightened importance on…