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ATO Intends to Collect Tax Debts

Posted on by Laze Spasevski
The ATO (Australian Taxation Office) has put small businesses on notice that it intends to collect unpaid tax debts and crack down on tax evasion. ATO second commissioner Jeremy Hirschhorn said small businesses were responsible for 65% of the $37 billion in collectible (i.e. not disputed) debt. Mr Hirschhorn said that while the ATO took a relatively relaxed attitude to debt collection during...
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FY22 Tax Returns | ATO Warning

Posted on by Laze Spasevski
Ato Form and pen
  The Australian Taxation Office warned small businesses that it will focus on three main areas when assessing the FY22 tax returns.   The first area the ATO plans to examine closely is overclaiming on expenses and claiming deductions for private expenses that are unrelated to business income.   The second area is the potential omission of certain income streams, such...
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