In 2011-12, the Tax Office will be sending letters to registered tax agents identified as having a high number of clients reporting outside the small business benchmarks. A list of the clients will be included in these letters so that tax agents can discuss this with them.
The Tax Office has recently reminded business taxpayers and tax and BAS agents (agents) to register for a new online security credential called AUSkey if they have not yet done so.
In most property transactions, there will be GST consequences relating to transaction to the vendor and/or purchaser depending on whether they are registered for GST purposes.
In a recent Tax Office Broadcast, the Assistant Commissioner, Mr Paul Southwell, has outlined the new requirements for tax and BAS agents (agents) when their contact details change.
On 2 November 2011, the government introduced to the House of Representatives, Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011.