Focus
Australian Tax Office
Business Failure Rates Soar to COVID Levels, Food and Beverage Worst Hit
Business failures have hit a post-pandemic peak, matching the rate measured in October 2020, with food and beverage the worst affected.
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Study Reveals Post-GST Income Tax Surge: Aussie Workers to Pay $500 Billion Extra
Governments can choose not to act on bracket creep because it brings them extra revenue without having to announce unpopular tax increases.
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Australian Tax Office Reels in $100 Billion in Corporate Taxes
Meanwhile, more than 1,200 entities, or roughly 31 percent of the corporate tax population, paid no tax.
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Magistrate Grants Bail to Accused Head of Illegal $30 Million Tobacco Empire
Nazir Haddara was released on a $150,000 surety after raids which seized more than 600,000 illegal tobacco and vaping products across Victoria.
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Australian Tax Office Received 250,000 Tip-Offs Since 2019
Building and construction, cafes and restaurants, and hairdressing and beauty services topped the list of industries the ATO was tipped off about in 2023/24.
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One in 11 Hospitality Businesses at Risk of Failure: CreditorWatch
The outlook for business continues to worsen, with CreditorWatch forecasting 1 in 11 in hospitality will fail in the next year, with bad news for other sectors.
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‘Insolvency Tsunami’ of Small Businesses Could Be Coming as ATO Aggressively Chases Debt
Calls to the Small Business Helpline surged 82 percent compared with last year, as the ATO takes an aggressive approach to debt collection.
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150 ATO Staff Caught in $2 Billion Social Media Fraud
Some staff have been sacked and others face criminal investigation after a GST refund scheme was exposed as fraudulent.
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Business Failure Rates Soar to COVID Levels, Food and Beverage Worst Hit
Business failures have hit a post-pandemic peak, matching the rate measured in October 2020, with food and beverage the worst affected.
|
Study Reveals Post-GST Income Tax Surge: Aussie Workers to Pay $500 Billion Extra
Governments can choose not to act on bracket creep because it brings them extra revenue without having to announce unpopular tax increases.
|
Australian Tax Office Reels in $100 Billion in Corporate Taxes
Meanwhile, more than 1,200 entities, or roughly 31 percent of the corporate tax population, paid no tax.
|
Magistrate Grants Bail to Accused Head of Illegal $30 Million Tobacco Empire
Nazir Haddara was released on a $150,000 surety after raids which seized more than 600,000 illegal tobacco and vaping products across Victoria.
|
Australian Tax Office Received 250,000 Tip-Offs Since 2019
Building and construction, cafes and restaurants, and hairdressing and beauty services topped the list of industries the ATO was tipped off about in 2023/24.
|
One in 11 Hospitality Businesses at Risk of Failure: CreditorWatch
The outlook for business continues to worsen, with CreditorWatch forecasting 1 in 11 in hospitality will fail in the next year, with bad news for other sectors.
|
‘Insolvency Tsunami’ of Small Businesses Could Be Coming as ATO Aggressively Chases Debt
Calls to the Small Business Helpline surged 82 percent compared with last year, as the ATO takes an aggressive approach to debt collection.
|
150 ATO Staff Caught in $2 Billion Social Media Fraud
Some staff have been sacked and others face criminal investigation after a GST refund scheme was exposed as fraudulent.
|