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Showing 1 - 10 of 43 results for "Tax avoidance"

Large Australian corporations pay record tax: ATO

ANDREW MCKEAN  |  THURSDAY, 9 NOV 2023
... recovering economy, high commodity prices and high levels of voluntary tax compliance, backed up by the hard work of the Tax Avoidance Taskforce over many years, has delivered in spades." Mirroring the broader economic upturn, every industry sector reported ...

Treasury consults on PwC-linked reforms

CASSANDRA BALDINI  |  WEDNESDAY, 20 SEP 2023
... look to expand tax promoter penalty laws so they're easier for the ATO to apply to advisers and firms that promote tax avoidance. Further, it will increase the time limit for the ATO to bring Federal Court proceedings on promoter penalties from four ...

Government cracks down following PwC scandal

CASSANDRA BALDINI  |  TUESDAY, 8 AUG 2023
... finance minister, attorney general and assistant treasurer. "We're also cracking down on the scourge of multinational tax avoidance and making sure multinationals pay their fair share of tax in Australia. "By increasing penalties, giving regulators stronger ...

Government cracks the whip on multinationals

ANDREW MCKEAN  |  MONDAY, 26 JUN 2023
The government has introduced a new Bill to tackle corporate tax avoidance, particularly among multinational enterprises. The bill mandates enhanced tax transparency for multinational corporations operating within Australia, making it more difficult ...

Senate Committee rethinks franking credit changes

ANDREW MCKEAN  |  TUESDAY, 6 JUN 2023
... manner," Waterhouse said. Despite these concerns, she affirmed the ASA's support for measures that address intentional tax avoidance or manipulation of the franking system.

TPB grilled over handling of PwC scandal

JAMIE WILLIAMSON  |  THURSDAY, 1 JUN 2023
... pecuniary penalty - something, Pocock pointed out, it has not done. "Why no fine? The average taxpayer faces a fine [for tax avoidance]," she stated. TPB chief executive secretary Michael O'Neill said the Tax Agent Services Act only allows pecuniary ...

Federal budget 2023: Winners and losers

TOM WATSON  |  TUESDAY, 9 MAY 2023
... support announced for first-time buyers. Multinational companies: As part of an OECD-led crackdown on multinational tax avoidance, the government says it will take aim at large foreign companies from January 2025 by ensuring that they pay a tax rate ...

ATO keeping tabs on SMSF early access, tax avoidance

KARREN VERGARA  |  FRIDAY, 21 APR 2023
The tax office issued a fresh warning to the rich who use self-managed superannuation funds as a vehicle for dodging tax and those who illegally access their retirement savings early. Of the total SMSFs in existence, 25% are operated by private wealth ...

Franking credit changes could backfire: SMSF Association

ANDREW MCKEAN  |  WEDNESDAY, 12 APR 2023
... profits and the raising of capital to pay dividends is merely prudent cash flow management and nothing to do with tax avoidance or the manipulation of the franking system," he said. "Disallowing franking in these situations would expose the shareholders ...

Senate inquiry to scrutinise proposed franking credit rules

ANDREW MCKEAN  |  THURSDAY, 9 MAR 2023
... accumulate capital, he said. The Australian Shareholders Association (ASA) backed measures to address intentional tax avoidance or manipulation of the franking system, according to a submission made to Treasury last year. However, while it backed the ...
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