But it did not go as far as suggesting the Turnbull government’s proposal to cut the corporate tax rate for large companies would have the same impact.
Seven traps to avoid as companies employ aggressive June 30 sales tactics.
The most common myth that leads to errors being made at tax time is that people think they are entitled to automatic or standard tax deductions,the ATO says.
A whopping 85 per cent of small business owners have never used the $20,000 instant asset writeoff.
Former senior US Treasury official Bob Stack has warned the government against introducing a 3 per cent tax on digital players like Facebook and Google.
The rules around how to take lump sum interest payments warrant close attention.
Each year,a staggering $68 billion is spent keeping the wealthiest households wealthy.
The Australian Taxation Office is keeping a close eye on taxpayers claiming deductions they are not entitled to for rental properties,including holiday homes.
Where a payment is made for something that is a mixture of business and private use,the tax deduction is limited to the business portion.
Tax concessions for the richest fifth of the population cost $68 billion a year,Newstart costs $11 billion,Anglicare Australia says.
Tax agents need to ensure they are “guardians” of the tax system rather than trying to help their clients scam it,tax commissioner Chris Jordan has warned.