Tax

  • Lower taxes for hard-working Australians and small business

    Josh Frydenberg     |      April 2, 2019

    The Morrison Government is building a better tax system that rewards hard-working Australians and empowers small and medium-sized businesses to invest, grow and create more jobs.

  • Surgeons biggest earners in 2016-17

    First 5000     |      March 30, 2019

    The Australian Taxation Office (ATO) has released the annual Taxation Statistics report for the income year 2016–17. The report presents an overview of 16.5 million 2017 income tax returns for 13.9 million individuals, 970,000 companies, as well as super funds, partnerships and trusts.

  • ATO collects more than $500 million from illegal phoenix operators

    First 5000     |      March 29, 2019

    The Australian Taxation Office (ATO) today announced it has collected more than $500 million in revenue for the Australian community as a result of audits of illegal phoenix operators since the Phoenix Taskforce started in November 2014.

  • ATO benchmarks help small businesses ‘swim between the flags’

    First 5000     |      March 5, 2019

    The Australian Taxation Office (ATO) has released updated benchmark data to help small businesses across the country compare their performance with their competitors and ‘swim between the flags’.

  • $2.7 billion protected from the black economy

    First 5000     |      February 12, 2019

    The taxable payments reporting system (TPRS) protected $2.7 billion from being lost to the black economy in the building and construction industry in the 2015-16 financial year.

  • ATO releases corporate tax data

    First 5000     |      December 14, 2018

    The Australian Tax Office has published information about Australia’s corporate tax system, which continues to build a picture of the tax affairs of the largest companies operating in Australia.

  • Tax relief for small and medium-sized businesses

    First 5000     |      November 13, 2018

    Millions of small and medium–sized businesses across Australia will pay less tax five years sooner, with new laws fast-tracking tax relief for the sector passing Parliament, last month.

  • Check now for your share of $17.5b in lost super

    First 5000     |      October 13, 2018

    New data released by the Australian Taxation Office reveals the total amount of lost and unclaimed super was reduced by over $420 million in 2017-18 but there is still $17.5 billion waiting to be found.

  • Shifty sales suppression tools outlawed

    First 5000     |      October 11, 2018

    It is now illegal to manufacture, distribute, possess, use or sell electronic sales suppression tools (ESSTs).

  • A new era of payroll reporting has begun

    First 5000     |      September 9, 2018

    Single Touch Payroll reporting is off to a successful start, with around 40,000 employers already sending tax and super information from their payroll software each time they pay their employees.

  • Superannuation needs deeper reforms

    Julian Lorkin     |      August 14, 2018

    Changes announced to superannuation insurance are just the start of what’s needed, says UNSW Senior Lecturer Gordon Mackenzie.

  • 10 tax myths busted!

    First 5000     |      July 30, 2018

    Tax season is underway and to help Australians get their returns right, the Australian Taxation Office has identified the top 10 tax myths and misunderstandings it says are causing incorrect claims.