ATO take ‘gloves off’ on overseas income
The ATO has again flagged that underreporting of foreign income is an issue, but this time the gloves are off.
Tax on shares
ATO extends data matching program The Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades. The ATO is accessing more than 500 million records detailing price, quantity and time of individual trades dating back to 2014. The information complements information that the ATO…
ATO issues notices to outlaw motor cycle gang members
200 Outlaw Motor Cycle Gang members served notices by ATO for failing to comply with tax obligations. We hope for the sake of theAustralian Taxation Office (ATO) staff the notices were delivered by mail! There are not a lot of details about exactly what type of income the ATO is targeting but tax law does…
What the ATO are targeting this FBT year
Businesses that have bought cars and living away from home allowances Data matching has become more sophisticated over the years to the point where there very few transactions you can make without the ATO knowing about it. While the officers at the ATO don’t go through data line by line they do look at anomalies. …