As a consequence of the allegations aired by current and former ATO staff about the inappropriate use of ATO's powers to issue garnishee notices, particularly to small businesses, on the Four Corners Program. The Inspector-General of Taxation (IGT) has now commenced an independent review to address these allegations to allay concerns of...Read More
Recent Posts by bpadmin
Last years Budget announced major changes to superannuation not seen for over a decade. The changes will introduce increased reporting requirements with the new reporting to occur before 30 June 2018. The reporting requirements will be ongoing for the life of superannuation members and the announced changes are likely to impact superannuation balances in the...Read More
The Federal budget announcement on 8 May 2018 was fairly conservative, light on any major tax reform and heavy on long term tax relief for many low and middle income Australians. The Government was a beneficiary of higher than forecasted tax collections with a deficit forecast for 2017/18 of $18.2b (less than half the...Read More
The ATO will soon be reporting outstanding ATO debts to credit reporting agencies, which will impact on a business and business owner's ability to borrow. This change was first highlighted by us back in March 2014 and has been mentioned in the past three federal budgets. The last budget indicated the implementation of this measure...Read More
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