ATO warns tax agents to watch out for fraudulent payment summaries
The ATO has warned tax agents that, with an increase in the lodgment of income tax returns between July and September, they may be approached to unknowingly lodge fraudulent income tax returns on behalf of clients using false payment summaries. The ATO says these payment summaries are often realistic copies of a genuine payment summary ...more
ATO publishes Taxation Statistics 2008-09
The ATO has published Taxation Statistics 2008-09 which features data compiled from tax returns from the 2008-09 income year and other financial information provided in activity statements and other FBT, GST and excise forms for the 2009-10 financial year. Highlights from the statistics for the 2008-09 year included: Personal tax: 12.3m individuals lodged income tax ...more
ATO alerts tax agents in relation to overdue client lodgments
The ATO has advised that on 23 February 2011, it began sending letters titled “Lodgment alert for your clients’ overdue documents” to most tax agents, highlighting clients (other than large businesses and super funds) with overdue lodgment obligations. Each letter lists the companies, trusts, partnerships and individual clients with either of the following: overdue income tax ...more
Lodge a 2008-09 tax return or risk losing family benefits: Minister
The Minister for Families, Housing, Community Services and Indigenous Affairs, Jenny Macklin, said Australians receiving a Family Tax Benefit (FTB) who do not lodge their 2008-09 tax returns by the end of January 2011 will face temporary payment suspension or cancellation for a “persistent failure to lodge”. This week, the Family Assistance Office (FAO) will be calculating the ...more
Tax Agent Portal reports now show ATO interest amounts
The ATO has advised tax agents that Tax Agent Portal Pre-filling and Year to date (YTD) interest summary reports now display ATO interest amounts. These amounts had previously been unavailable in these reports while the ATO worked on system upgrades to ensure the reports aligned and displayed the most current amounts of ATO interest. Prior ...more
Tax Office 2009-10 tax return forms, schedules and accompanying guides
The Tax Office has released the following tax return forms, schedules and accompanying guides: Business industry codes 2009-10 Capital allowances schedule 2009-10 CGT schedule 2009-10 Company tax return 2009-10 Consolidated groups losses schedule 2009-10 Consolidated groups losses schedule instructions 2009-10 Dividends and interest schedule 2009-10 Family trust election, revocation or variation 2009-10 Franking account tax ...more
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