Don’t risk sharing your MyGov password

On 4 December 2019 a case of fraud and theft was heard in Mt Druitt Magistrates Court NSW against an unregistered tax agent. The case highlights the risk of identity crime and the importance of not sharing your private myGov password information. Information obtained from the hearing of Benjamin Cox revealed that he had fraudulently…

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Property depreciation tax changes passed

As part of the 9th of May 2017 federal budget, the Australian Government proposed amendments to legislation relating to plant and equipment (division 40) deductions. The proposed changes, outlined in Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 , have now been legislated after being passed by the Senate on the 15th of November 2017….

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ATO debts to be reported to credit agencies

The Federal Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) included an announcement that from 1 July 2017 the Australian Taxation Office (ATO) can disclose to Credit Reporting Bureaus the tax debt information of businesses that have not effectively engaged with the ATO to manage those debts. This will be a new and unprecedented power for…

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