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Victorian Vacant Property Tax

Residential property tax of 1% of the property’s capital improved value is imposed on vacant properties.           Properties will be deemed vacant if they are left

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Director Penalty Notices

If a company fails to comply with their obligations under the PAYG withholding system or the SGC provisions, company directors can be held personally liable for the amount the company

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ATO set to pounce on undisclosed income streams

The ATO has warned that it will be increasing efforts to identify taxpayers who leave out certain payments and foreign income streams, as new international reporting standards kick in this month.

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GST spotlight headed to smaller end of town

With large multinational and public companies put on notice by the ATO over their GST compliance obligations, smaller taxpayers have been warned of “greater frequency and rigour” of reviews heading their way.

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Superannuation Amnesty – Maybe! Maybe Not!

          An amnesty to allow unpaid superannuation to be reported and paid without penalties has hit a big snag. The amnesty announced in May 2018 lasting

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ATO drills in car-sharing focus this tax time

The tax office has reiterated it will be paying close attention to taxpayers earning income through car-sharing platforms, in line with its focus on the share economy this tax time.

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Update of Australia’s vital statistics

          Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business

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ATO speaks on risk factors, surveillance triggers for FY19

The ATO has outlined key risk factors, behavioural triggers and paper trails that will draw its attention to your client’s SMSF this financial year.

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ATO’s corporate residency guidance cops backlash

The tax office’s new approach to determining whether entities are resident under the central management and control test has drawn flak from industry bodies, noting technical issues with the guidance and disagreeing with the interpretation of the law.

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ATO dispels top tax time myths to clients as clampdown rolls out

Ahead of one of its biggest deductions crackdowns, the tax office has released a series of common mistakes and misunderstandings taxpayers make at tax time.

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