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The Latest Breaking News from ATO

Selling your investment property? Here’s what to consider

Obviously, when selling an investment property, your primary consideration should be obtaining the best price. But there are plenty of other factors.

The New Daily

Australians raided $1.6 billion in superannuation savings to pay for health care

Australians raided almost $1.6 billion from their own superannuation accounts to pay for treatments including dental, IVF and elective surgery in the past three years, almost 20 times more than a decade ago.

ABC News

Qld mother-of-five jailed over $200k fraud

A woman who obtained nearly $200,000 from the government by forging documents was blocked by the ATO in her attempts to get a further half a million dollars.

AAP

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Fewer than 120,000 people inhabit Kiribati yet they apparently hold $682m in Australian banks

Fewer than 120,000 people inhabit Kiribati and the median household income is about $12,000. Yet data released by the Australian Taxation Office reveals $682 million in Australian bank accounts belong to foreign tax residents from the tiny Pacific nation.

ABC News

Raiding retirement: How a million Australians emptied their super fund during COVID-19

Around $38 billion was withdrawn from super funds as emergency payments and about a million people cleaned out their entire retirement savings.

The New Daily

Accountant's 'misguided' loyalty to client

A senior tax accountant has been sentenced to a two-year intensive corrections order for lying to the Australian Taxation Office about a client.

AAP

ATO reveals nation’s highest earning areas

Australia’s highest earning area has been revealed as the Perth postcode that takes in Cottesloe and Peppermint Grove, according to new tax data.

Crikey

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ATO reveals nation's highest earning areas

Australia's highest earning area has been revealed as the Perth postcode that takes in Cottesloe and Peppermint Grove, according to new tax data.

AAP

Tax office whistleblowing saga points to reforms needed in three vital areas

Last Friday’s twist in the long prosecution of Australian Taxation Office whistleblower Richard Boyle – now headed for its fifth year – brings into relief the serious flaws in our nation’s whistleblowing laws.

The Conversation

Jobs on offer at ATO for Canberra school leavers

Want a starting salary of almost $51,000 plus super?

The Canberra Times

The 60 millionaires who paid no tax and the richest and poorest postcodes revealed

Sixty people earned more than $1 million but paid no tax in 2019-20, and the country's lowest incomes have been recorded in regional NSW, according to the ATO's latest taxation statistics.

ABC News

Michael Pascoe: The professional classes make billion-dollar tax rorts possible

An army of very highly paid lawyers and accountants are beavering away at ripping off the Commonwealth, writes Michael Pascoe.

The New Daily

‘Dangerous’: ATO hands out $5.7 billion in tax refunds in July as inflation soars

The federal government has paid out $5.7 billion in tax refunds to households in July amid warnings the stimulus will worsen soaring inflation.

The New Daily

‘Fleecing the public’: Labor puts corporate giants on notice as Rio Tinto coughs up $1 billion in tax

Corporate giants failing to pay their fair share of tax have been put on notice as Labor prepares to introduce a crackdown on multinational tax dodgers.

The New Daily

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Crikey

Rio Tinto settles $1b tax bill: ATO

Rio Tinto has handed over $1 billion in unpaid taxes after an ATO investigation, in one of the largest settlements in Australian tax history.

The Guardian - AU

Rio Tinto agrees to pay additional $613m to settle dispute with Australian tax office

Deal over mining giant’s financing arrangements and marketing hubs in Singapore is one of ATO’s biggest ever tax settlements

The New Daily

Taxable income: Does having more than one job mean I pay more tax?

The Australian Tax Office (ATO) doesn’t care how many different sources of income you have, it just need to know how much your total taxable income is.

AAP

Police, tax office nab GST fraudsters

The tax office says thousands of people are suspected of being involved in a major GST fraud and warned Australians to be wary of people seeking myGov details.

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Crikey

Can we get the bill?

Liberal MP Bridget Archer could cross the floor to support Labor’s 43% emissions target, and Anthony Albanese has called an emergency meeting of state and territory leaders after the controversial decision to bin the $750-a-week isolation payment.

ABC News

Attorney-General rejects calls to drop prosecution of ATO whistleblower Richard Boyle ahead of trial

Attorney-General Mark Dreyfus has ruled out dropping charges against former ATO public-servant-turned-whistleblower Richard Boyle, who is set to face trial later this month.

ABC News

Josh's tax file number was stolen. Now his personal data is at risk — and his money

Now that tax time has rolled around, people are being warned to keep their tax file numbers secured.

The New Daily

The major changes that will affect your future tax returns

If you've worked from home during the pandemic, you are likely to have used a shortcut method of claiming home office expenses that ended on June 30.

ABC News

Bitcoin helped Joe secure his fortune but he would no longer recommend it as investors risk financial ruin

Joe Bridge has bought two motorbikes, two boats and his first house with the $1 million-plus he made on bitcoin, but he doesn't recommend trying to replicate his success.

The New Daily

‘Take your time’: ATO urges Australians to delay filing tax returns

Millions of Australians are expected to rush in and file their 2021-22 tax returns over the next month, with bumper refunds on the table this year.

The Guardian - AU

Tax return Australia: what expenses can I claim if I’ve returned to the office for work?

So you’re leaving the house for work again, either some or all of the week: here’s what to do and what you can claim

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