AccountantsDaily

Accountants Daily provides daily updates, insights, and analysis tailored for accounting professionals in Australia. This online platform aims to serve as both a supporter and a knowledgeable source for the accounting community. Accountants Daily has reported on significant political and corporate issues that impact professional services, making it an essential resource for accountants from large corporations to small businesses. Created by Momentum Media, Accountants Daily benefits from a strong history of producing tools that enhance industry engagement in the business and finance sectors. Momentum Media is acknowledged as a top publisher in Australia for offering cohesive media solutions.

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ATO monitoring advice fee deductions, FAAA cautions

4 days 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

5 days 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

6 days 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

6 days 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 week 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.
TPB cautions taxpayers on financial risks of 'finfluencer' advice

1 week 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 week 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.
‘A taxpayer-subsidised inheritance scheme:’ policy analysts slam super tax concessions

1 week ago | accountantsdaily.com.au | Emma Partis

Raising super taxes on balances above $3 million is a step in the right direction, but doesn’t go far enough, Grattan Institute analysts have argued. • • 9 minute read Grattan Institute analysts Brendan Coates and Joey Moloney have said that Australia's “generous” superannuation tax breaks disproportionately flow to older, wealthier Australians, leaving working Australians to shoulder the lion’s share of the tax burden.
3 Queenslanders sentenced to jail for GST fraud

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

The ATO continues to pursue and prosecute perpetrators of GST fraud under Operation Protego, with a further three people sentenced in May. • • 9 minute read A further three people have been sentenced this month for lodging fraudulent GST returns following investigations by Operation Protego, according to a recent statement by the ATO.
ATO whistleblower pleads guilty to 4 charges

1 week ago | accountantsdaily.com.au | Emma Partis

In 2017, ex-ATO debt collection officer Richard Boyle raised concerns internally regarding unethical debt recovery tactics within the ATO. After he felt that his complaints had been ignored, he appeared on an ABC Four Corners program in 2018, alleging that ATO debt collection officers had been instructed to use heavy-handed tactics to claw tax debts back from taxpayers. You’re out of free articles for this month Username or Email Keep me signed in on this device.