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ATO can garnishee directors' bank accounts |
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 With the Tax Laws Amendment (2012 Measures No 2) Bill 2012 and Pay As You Go Withholding Non-compliance Tax Bill 2012 receiving Royal Assent on 29 June 2012, the legislative changes which make directors personally liable for their company's unpaid superannuation guarantee amounts have come into force.
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ATO admin of penalties for false or misleading statements |
The Tax Office has released the following two Practice Statements dealing with the administration of penalties for making false or misleading statements.
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Strengthening director obligations |
 On 29 June 2012, changes were made to the tax laws to reduce the scope for companies to engage in fraudulent phoenix activity or to escape liabilities and payments of employee entitlements.
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ATO warns of exploitative GST arrangements using inflated valuation of intangibles |
 The Australian Taxation Office (ATO) today issued a taxpayer alert warning people to be cautious about non-commercial arrangements where large input tax credits are claimed on acquisitions of intangible items (such as rights) at grossly inflated values. The arrangements feature uncommercial vendor finance agreements where payments are contingent on future events.
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Lodgment alert for overdue documents |
 On 16 August 2012 we will send lodgment alert letters with a list of your clients who have overdue lodgment obligations, excluding large business clients.
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The Tax Practitioners Board has reminded those BAS and tax agents who have submitted their renewal applications on time that they remain registered until the Board has made a decision and notified them of the outcome in writing.
The ATO has released Decision Impact Statements on the following cases.
This guide provides a model for you to consider in making choices of apportionment methods. It also helps you record evidence and your reasons for decisions.
From 1 July 2012, individuals with income greater than $300,000 will have the tax concession on their contributions reduced from 30% to 15% (excluding the Medicare levy).
July 2012 your clients may receive a once-only offer to have their excess concessional contributions refunded. If they decide to accept this offer, their excess concessional contributions will be:
The Tax Office has recently advised that if a tax agent is intending to give their client a refund before the client's notice of assessment has been issued, there is certain information that tax agents should seek.