In Trouble for JobKeeper Rort?
Since the introduction of the JobKeeper wage subsidy, almost 3.8 million employees employed by more than 1 million businesses, have received more than $80 billion from the ATO in JobKeeper payments.
Resumption of Tax Compliance Activities by the ATO
The Australian Taxation Office (‘ATO’) has announced that from March 2021 it will on a case-by-case basis, resume debt recovery activities and lodgement compliance activities. This is no surprise. Tax debt has now reached $53 billion.
Taxed for a Hobby or Running a Business: Where Do You Cross the Line?
It’s fair to say that the vast majority of hobbies aren’t of concern to the ATO. Fishing, stamp collection, and video games (among other things) all tend to be activities that cost money and reap their benefits in other less tangible ways (enjoyment, primarily).