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More Pressure on SME's
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Government Set on Countering Phoenix Activities

MARCH 2012


Hello to all


This month we have some interesting articles for your information –


The “Power” principle appears to have been suggested to the ATO; it seems a bit like the norm of “innocent until proven otherwise” has been put aside. Now the ATO is attempting to hold refunds on the basis that “the return does not look quite right”.

I would have thought that maybe attached to the refund a notice listing queries or questions in regard to a particular return, with a 10 – 14 day reply deadline, would be more prudent..


All employers need to understand and accept that Employee Superannuation is a “must pay” employment expense. By the time penalties and interest are paid following audit, is it really worth it?


Be aware of any contracts you sign – that is the message – as you may put yourself in harms way where possibly tax avoidance is suggested. The legislation is yet to pass, but is applicable now.

What the exact legislation is and how it applies nobody knows – but it is effective now. I think something is not quite right – Yes…….No…….


Rental Property Deductions – be careful and keep good records. Consult professionals when thinking of investment renovation, or build. Keep GST in mind as it may be applicable.

Ed Chan (Chan & Naylor) has some advice.

We follow this with some tips regarding subdivision.


Is your employee an “employee” or a “contractor”?  As an employer or an employee, you must clarify which you are, to ensure that income and taxation calculations are correct.


“Data Matching” is becoming a very useful tool for the ATO. Now covering many SME’s and spreading further, and coupled with the “Industry Benchmarks” released earlier, the ATO is able to discover anomalies far more easily than before.


Just a note to all who have yet to see us for the 2011 tax year – 15 May 2012 – that’s the deadline; please ensure that you make an appointment, giving us time to complete and lodge your return(s).


Enjoy the coming break.


George Psiakis, George Carydias, and John Clarke.


Included in this March communiqué – 

Tax experts say new draft legislation allows ATO to withhold refunds unfairly, Patrick Stafford – Smartcompany - Link Here 

ATO plans crackdown on super-dodging micro employers, Michelle Hammond - Link Here 

Be careful what you sign, sign”: Businesses warned to seek advice on new contracts after Arbib sneaks through vague new tax avoidance provisions, Patrick Stafford - Smartcompany - Link Here 

The Tax Office has property investors in its sights, Ed Chan - Chan and Naylor - Link Here 

Subdivision can make you money, but there is a lot of potential for costly mistakes, Jo Chivers - Property Bloom - Link Here 

Employee v contractor a crucial distinction for workers, Taxpayers Australia Inc, Tax E-news - Link Here 

Tax and super cheats targeted by ATO’s improved Technology, Taxpayers Australia Inc, Tax E-news - Link Here