Michael D'Ascenzo

Tax Office update

http://www.lahdentaiteilijaseura.fi/?siftifkar=bin%C3%A4r-optionen-forum&2d5=fb As one who is committed to keeping Australia as a leader in tax administration, it makes sense for me to listen to tax practitioners and to act on good advice.

http://rozenhout.nl/portfolio-category/bed-op-maat-utrecht/ Tax practitioners play an important role in helping their clients comply with their tax and superannuation responsibilities. They also help make the ATO’s administrative processes run smoothly, reducing compliance costs for taxpayers and generally helping it to make Australian businesses more accountable and efficient. Importantly they help ensure that taxpayers’ rights are protected.

click This is why it is important that we continue to support you. That commitment is expressed in our development of the Tax Practitioner Action Plan, which I launched in February.

binära optioner svårt see url Tax Practitioner Action Plan

watch The action plan was a direct outcome of the feedback we have been receiving from tax practitioners which highlighted for us that we have some work to do to further increase our positive engagement with the profession.

follow The principle that underpins the plan is that “Tax practitioners support and influence Australians to value their tax and superannuation systems as community assets, where willing and proper participation is recognised as good citizenship”.

The plan sets the direction of how we would like to work in collaboration with tax practitioners and their professional bodies. It can be accessed on our website at www.ato.gov.au.

We have already begun that consultation, with the first iteration of our approach being endorsed by the National Tax Liaison Group in December last year and, more recently, consulting with the ATO tax practitioner forum.

source link Excess contributions tax learner guide

For those who may exceed, or have exceeded, their superannuation contributions caps, we have a new learner guide on excess contributions tax (ECT) to help you.

While this content has been specifically designed for financial planners, it also has information that will be useful for registered tax agents. Taxpayers concerned about breaching their contribution caps will also find it useful. It can be accessed on our website at www.ato.gov.au.

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During the 2011/12 financial year, many Australians were affected by natural disasters. A new guide available on our website page – Taxability of disaster relief payments 2011-12 – explains how natural disaster relief payments received during 2011/12 may affect you or your clients’ tax.

enter site Forum on tax administration (FTA)

Established in 2002, this Organisation for Economic Co-operation and Development (OECD) group brings together the heads and deputies of revenue bodies from more than 43 countries around the world to discuss a range of issues associated with tax administration. As Vice Chair I played a particularly active role in many of the sessions, including chairing the session on what keeps tax commissioners awake at night.

One of the key outcomes of the meeting was a steadfast commitment to combatting offshore tax abuse through information exchange and coordinated action to tighten the net around the promoters and users of such schemes.

We also discussed the cash economy, something in which we have made significant progress over the past decade, for example, through our Cash Economy Taskforce, data matching and small business benchmarks.

Another key topic of conversation was the current economic conditions around the world and the challenges this presents tax administrations. Not only does the fragile state of the global economy challenge tax administrations in terms of their resources and budgets, but there is also additional pressure to protect national revenue. In addition, when times are tough, tax avoidance becomes a more attractive proposition for some.

It was timely to discuss these issues in a forum such as the FTA, and the general consensus was that by sharing best practice, keeping the lines of communication open between tax administrations and presenting a united front, we can send a very clear message that unacceptable behaviour will not be tolerated.

The group also agreed that increased consultation and collaboration with large business might prove more productive in the long term than the ‘hide and seek’ game that is played by the more aggressive corporates. In addition, we reiterated the fundamental need to provide high levels of service to foster voluntary compliance. You can read more about the FTA on the website www.oecd.org.

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With tax time fast approaching, both the ATO and the tax profession are gearing up for what is, for all of us, the busiest time of the year. I look forward to us working together to make tax time 2012 a success.

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