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Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
Payroll, compliance issues top dodgy practices in Aussie business
Employee travel expense deductions
The Goldilocks effect - Economic and market update 4Q 17
Tax assessments confirmed for undisclosed business income
Super returns on the up despite clients’ hesitation
Australia. All you need to know to be the expert.
Business confidence hits 5-month high: NAB
Articles archive
Quarter 1 January - March 2018
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Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 4 of 2014
Articles
FBT – Christmas Parties and Taxi Fares
Hiring older employees
Deadline - 19th December 2014
Traps in Making Family Trust Distributions
Data matching offshore bank accounts
Estate planning in an SMSF.
Maximising the benefit of Credit Cards
Warning on Bank Offset Accounts
Mining tax gone but watch for associated tax changes
Data matching offshore bank accounts

 

ATO is widening the breadth of data it obtains on individuals from financial institutions ....


...... possibly revealing hidden or undisclosed offshore in come. The ATO has recently announced a data matching program targeting offshore bank accounts. Under the program, the ATO will collect account details of bank customers from various financial institutions to identify Australian resident taxpayers with offshore bank accounts which may indicate evidence of undeclared income and/or gains.


     

     


TIP:
The Tax Commissioner earlier this year announced a tax 'amnesty' called Project DO IT which aims to encourage individuals to disclose previously undeclared offshore income or assets. Under the program, individuals could be offered reduced penalties for disclosing their offshore income. The ATO has been warning individuals to come forward before 19 December 2014, which is when the project will end.


 


Thomson Reuters Tax and Accounting
Client Alert Newsletter
October 2014


 




1st-November-2014