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A collection of updates, articles and papers written by The Little CFO & The Little CFO Legal

Report investigating relevant matters raised in the '2018-19 Commissioner of Taxation Annual Report'

The House of Representatives Standing Committee on Tax and Revenue, chaired by Jason Falinski MP, has today presented its

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The Committee set down 19 recommendations, including:

- that the ATO ensure that debts are not payable by the taxpayer until a final determination is made by the relevant dispute body or court. The Committee noted that, should there be fears that funds will be removed during an enforcement action, the ATO should apply as all other plaintiffs do for a court-ordered injunction;

- that legislation be introduced to shift the onus of proof to the ATO in relation to allegations of fraud or evasion after a certain period has elapsed;

- that the ATO develops and promotes an Australian Taxpayers’ Bill of Rights that clearly outlines taxpayers’ rights and obligations;

- the Committee urges the Federal Government to consider the use of blockchain and other leading technologies to optimise the use of the registry, and minimise ongoing costs of maintaining the Registry. Such technical deployments should also future proof the work currently being undertaken by the ATO.

Read the full report here:

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