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Press Releases 2006
Child care tax reform needed now!
The National Tax and Accountants’ Association (“NTAA”) has today supported reforms to the tax treatment of child care costs that have been attributed to Senator Bronwyn Bishop. That is, the NTAA believes that employers should not be subject to FBT (which is levied at 46.5%) on child care benefits provided to an employee.
ATO announces "crackdown" on employee expenses
Tax experts have warned that employee work-related expenses will be “put under the microscope” as part of the Tax Office’s “crackdown” for the 2006/07 year.
Tax debts for small businesses raging out of control!
Tax experts have today warned that small business tax debts are raging out of control with these businesses currently owing approximately $6.5 billion in tax.
Tax cuts, what tax cuts?
Research undertaken by the National Tax and Accountants’ Association (“NTAA”), has today revealed that recent interest rate hikes now exceed the tax cuts that have applied to average Australians from 1 July 2006.
Tax profession in crisis?
The Inspector-General of Taxation, David Vos, has recently released a submission for a government inquiry in which he identified a number of pressing issues with the tax industry. In his report he had made observations regarding the enormous workload of tax agents, difficulties the profession has with keeping up to date and concerns about people leaving the tax profession which may ultimately lead to a shortage of experienced tax agents.
Abolishing tax returns would cost millions!
The National Tax and Accountants’ Association (“NTAA”) has today warned that the recommendation by the Organisation for Economic Co-operation and Development (OECD) to abolish tax returns for salary and wage earners would cost hard-working Australian taxpayers millions of dollars in legitimate tax deductions.
New rules set to “tighten the noose” on bankrupts
The National Tax and Accountants’ Association (“NTAA”) has today welcomed changes to the bankruptcy laws which prevent taxpayers from avoiding creditors by making large contributions into superannuation.
Child care – It’s broke so let’s fix it!
The National Tax and Accountants’ Association (“NTAA”) has today challenged the Federal Government to extend the tax concessions associated with child care costs.
ATO tax return “hit list”
Employees will soon be receiving group certificates and lodging their 2006 income tax returns hoping for a big refund, but they should be aware that the Tax Office is ready to pounce if they leave income out or claim too many deductions, Darren Wynen of the NTAA warned today.
