tax

The Greens have said they will work constructively with the Treasurer to ensure the proposed tax for wealthy superannuants is “strong and fair”.

The SMSF Association has called reports the government is open to making changes to the proposed $3 million super tax “encouraging”.

The ATO plans to create new digital tools and services for small business as part of its heightened focus on small business tax compliance.

Greater transparency around how the ATO makes decisions in areas such as GIC remissions would help build further trust in the tax system, the Tax Ombudsman has said.

Australians have been found to be confused about key tax rules and fear making a mistake on their tax return, Xero has revealed.

A BDO survey found that tax compliance was a significant priority for tech CFOs as regulations continue to evolve.

The professional body is urging the Tax Ombudsman to analyse the ATO’s powers under section 167 of the Income Tax Assessment Act and its reliance on burden of proof as part of the systemic reviews. ...

The professional body says Division 296 tax will have unfair tax implications for surviving spouses receiving an inheritance.

The Tax Practitioners Board has warned taxpayers on the risks of following tax advice promoted on social media platforms.

Raising super taxes on balances above $3 million is a step in the right direction, but doesn’t go far enough, Grattan Institute analysts have argued.

Accountants have been warned about family trust issues that can lead to unexpected tax bills for clients, with the ATO scrutinising this area.