On 16 July 2020, the Tax Practitioners Board issued a media release saying it had struck off a tax agent who lodged more than 170 returns for self-managed superannuation fund (SMSF) clients, where he claimed the funds had been independently audited, but the investigation found no audit had been conducted. See below for details. [Tax Month…
On 16 July 2020, the ATO posted an article advising that record numbers of returns have been lodged in the first 2 weeks after the end of the 2019-20 financial year, $1b of refunds have issued; the three main 2020 lodgement issues arising to date and a reminder that the ‘working from home shortcut’ has…
In The Tax Institute’s weekly newsletter: TaxVine No. 27 (17.7.20) their Senior Advocate, Robyn Jacobson CTA considered the exit of the childcare sector from JobKeeper on 20 July as a prelude to all businesses losing JobKeeper support (subject to any continuation in part or whole which may be announced by the Government soon) and their…
Melbourne has gone into ‘Stage 3’ lockdown, after Wed 8.7.20, affecting tax practice, for both practitioners and clients. The Tax Institute is the peak tax professionals group in Australia and has turned its attention to the impact of the COVID-19 lockdown, on Wed 15.7.20, when it sent an email, to its members, addressing these issues,…