ATO wins battle to force electricity company to pay tax

Electricity poles and wires company Spark Infrastructure has taken a $270 million bath, writing down its South Australian electricity distribution assets and cutting dividends after a court decision that will force it to pay more tax. Spark has lost its tax battle with the Australian Tax Office over its subsidiaries, setting a potential precedent for similar industry-wide asset write-downs. Spark […]

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ATO no 'model litigant', small businesses tell Senate inquiry

Small business people alleging misconduct by the Australian Taxation Office have thrown their support behind proposed changes to the law that would strengthen current rules that require government agencies to behave like model litigants during legal disputes. In submissions to a Senate inquiry examining whether the laws should be amended to increase rights of taxpayers, they say the ATO fails […]

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As multinationals gear up to fight ATO, it turns focus on abuse of IP

More than 30 large Australian corporates across mining, oil and gas, ecommerce and the pharmaceutical industry are disputing billions of dollars in tax bills raised under the federal government’s tougher laws aimed at curtailing multinational profit shifting, the Australian Taxation Office says. But as these companies decide whether they should settle their cases with the Tax Office, or head to […]

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Australian Tax Agency To Target Crypto Traders Hiding Profits Offshore

The Australian Tax Office or ATO said it will track down citizens hiding their profit from cryptocurrency trading offshore, Australian Financial Review reported. The move, using the recently signed data sharing agreements with other nations, will also target unexplained assets and wealth. ATO Acting deputy commissioner Martin Jacobs said, “Our feeling is that the vast majority of investors who joined […]

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