The ATO gets serious

Many will have seen the Daily Telegraph article entitled “ATO Raids 12 firms for fraud evidence” recently as they step up their stance on premeditated phoenix activity.  It was interesting in an earlier unrelated article the ATO had advised that it headed up a taskforce made up of a number of government bodies that now … Continued

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ATO Crackdown on Non-compliant Behaviors in terms of Share Transactions

It is one of the prime responsibilities of The Commissioner of Taxation to ensure that Taxpayers meet their taxation and superannuation obligations. Failure to address non-compliant behaviors will potentially undermine the public’s confidence in the credibility and reliability of the taxation and superannuation systems, it will also raise concerns about the ATO’s capacity in administering … Continued

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Director Penalty Notice (“DPN”) – important update!

On 5 July 2012 Condon Associates issued a Media Alert in regard to changes to Taxation Legislation on 29 June 2012 which resulted in Directors becoming personally liable for their companies’ PAYG Withholding and Superannuation Guarantee Charges. Briefly, the Director Penalty Notice Regime now provided: Directors’ penalties to be  issued in respect of unpaid Superannuation … Continued

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Carbon Tax beats GFC in AUS!!!

It’s (at the time of writing) the latest news, the Carbon Tax is responsible for more business failures in Australia than the GFC. Fearfully, it would be almost impossible to find a more purely politically focused statement. It’s recently been reported that there have been more than 10,500 corporate failures in Australia in the last … Continued

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