If you have outstanding tax returns and aren’t concerned because the tax office hasn’t contacted you, be aware the Tax Office is taking action. This means that if you haven’t lodged a tax return for a particular year, the tax office can now estimate your taxable income and issue an assessment notice accordingly, meaning you will not be given an [...]

Need to lodge your tax return late? The due date for lodgement for your 2011 tax returns was 31 October 2011. Missed the deadline? It is important that you arrange to have your tax return prepared and lodged now so as to avoid hefty penalties by the ATO. Are there fines/penalties? ATO fines can be excessive and the table below [...]

The increasing number of companies going into liquidation and administration has sparked a proposal by the treasury to increase the liability of directors for failing to meet their obligations as employers. The proposed changes, currently outlined in a draft exposure bill, aims to pierce the corporate veil that directors have used to protect themselves from personal liability in instances where [...]