Miranda Brownlee

Sydney

News Editor at AccountantsDaily

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Articles

ATO monitoring advice fee deductions, FAAA cautions

3 weeks ago | accountantsdaily.com.au | Miranda Brownlee

Advisers and accountants should adopt a common-sense approach towards claiming tax deductions for financial advice, with the ATO asking questions about deductions in some instances, says the FAAA. • • 9 minute read The Financial Advice Association Australia (FAAA) has stressed the importance of ensuring that any deductions claimed for advice fees are for advice that is genuinely tax-related or linked to assessable income.
Tax Office to consult on ‘future tax administration’ for small business

3 weeks ago | accountantsdaily.com.au | Miranda Brownlee

The ATO plans to create new digital tools and services for small business as part of its heightened focus on small business tax compliance. • • 8 minute read The Tax Office plans to begin consultation next month on its plans to create a new digital tax experience for small business that would provide small businesses with access to digital tools, services, and resources.
ATO issues interim decision impact statement on meal expenses case

3 weeks ago | accountantsdaily.com.au | Miranda Brownlee

The ATO does not intend to revise its public rulings on work-related travel expenses and record keeping until the appeals process for the recent Shaw decision is finalised. • • 9 minute read The ATO last week published an interim decision impact statement on the decision, Shaw and Commissioner of Taxation [2025] ARTA 224, which was handed down by the Administrative Review Tribunal in March this year.
Consistent outcomes critical for building trust in tax system, says IGTO

3 weeks ago | accountantsdaily.com.au | Miranda Brownlee

Greater transparency around how the ATO makes decisions in areas such as GIC remissions would help build further trust in the tax system, the Tax Ombudsman has said. • • 8 minute read The Inspector-General of Taxation and Taxation Ombudsman (IGTO) Ruth Owen has stressed the importance of both transparency and consistent outcomes for establishing trust within the tax system.
IPA urges IGTO to prioritise review into payday super readiness

1 month ago | accountantsdaily.com.au | Miranda Brownlee

It is critical that employers and intermediaries have confidence that the ATO’s processes and systems will be ready for payday super on 1 July 2026, the IPA has said. • • 8 minute read The Institute of Public Accountants (IPA) has urged the Tax Ombudsman to prioritise a review into payday super readiness for this year, with the start date fast approaching.
IPA urges IGTO to prioritise review into payday super readiness

1 month ago | accountingtimes.com.au | Miranda Brownlee

The Institute of Public Accountants (IPA) has urged the Tax Ombudsman to prioritise a review into payday super readiness for this year, with the start date fast approaching. Last month, the Inspector-General of Taxation and Tax Ombudsman (IGTO) Ruth Owen released a shortlist of proposed reviews for the next financial year for consultation. In its submission, the IPA said it considered all ten areas of review included in the short list to be "important and worthy of the IGTO's attention".
TPB cautions taxpayers on financial risks of 'finfluencer' advice

1 month ago | accountantsdaily.com.au | Miranda Brownlee

The Tax Practitioners Board has warned taxpayers on the risks of following tax advice promoted on social media platforms. • • 8 minute read In a recent statement, the TPB said the number of finfluencers who promote financial advice and tax advice on various social media platforms is on the rise. "Unfortunately, they don’t always have the necessary qualifications to give out this advice or provide all the information you need to make a fully informed decision," the TPB warned.
Tax lawyer flags compliance traps with family trusts following ATO crackdown

1 month ago | accountantsdaily.com.au | Miranda Brownlee

Accountants have been warned about family trust issues that can lead to unexpected tax bills for clients, with the ATO scrutinising this area. • • 9 minute read Kristy-Lee Burns, partner at Owen Hodge Lawyers, has outlined some of the misconceptions about family trusts and family trust elections that can have tax consequences for taxpayers in these groups.
Taxpayers 'losing thousands' by following finfluencer tax advice, warns TPB

1 month ago | accountingtimes.com.au | Miranda Brownlee

The Tax Practitioners Board has warned taxpayers on the risks of following tax advice promoted on social media platformsRaising super taxes on balances above $3 million is a step in the right direction, but doesn’t go far enough, Grattan ... Accountants have been warned about family trust issues that can lead to unexpected tax bills for clients, with the ATO ...
Tax lawyer flags compliance traps with family trusts following ATO crackdown

1 month ago | accountingtimes.com.au | Miranda Brownlee

Kristy-Lee Burns, partner at Owen Hodge Lawyers, has outlined some of the misconceptions about family trusts and family trust elections that can have tax consequences for taxpayers in these groups. The Tax Office recently warned privately owned and wealthy groups that it was seeing an increase in issues with family trust distribution tax due to poor succession planning and inadequate record-keeping practices.