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The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREATO records jump in prosecutions, debt
The tax office’s annual report shows there was an increase in prosecutions last financial year for individuals and companies as well as a spike in small business debts, while debt collection activities broadly took a hit during extended digital downtime periods.
The ATO’s data shows 1,650 individuals and 445 companies were prosecuted in the 2016/17 financial year, up from 1,300 individuals and 400 companies in the year prior. This resulted in $15 million in fines, costs and reparation orders, up from $11.6 million compared to the 2015/16 financial year.
Read the full article on Accountants Daily.
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