Reputation fears caused WAEC to outsource election recruitment, documents suggest
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
9 minutes ago
- ABC News
ATO reversed its own decision to bill former PM Paul Keating's company nearly $1m after three-year battle
The Australian Taxation Office (ATO) wrote off almost $1 million in interest and penalties owed by one of Paul Keating's companies in 2015, in an abrupt about face after negotiations with the former prime minister and his financial advisers. This was unusual because for most taxpayers, formally challenging such a decision would require them to contest the matter in the Federal Court. In this case, the payment notice was cancelled after a negotiation, raising questions about the treatment of powerful people by Australia's chief revenue collection agency. It also raises questions about a lack of transparency in how the tax office conducts confidential settlements. Four Corners does not suggest any wrongdoing by Mr Keating or his advisers in seeking to have the debt cancelled. Four Corners first contacted Mr Keating two weeks ago to request an interview about how this settlement came about, but he declined. The interest and penalties bill was issued after the ATO discovered in 2012 that Mr Keating's company, Brenlex Pty Ltd, had not reported profits from an earlier share sale. This followed a 2010 agreement by Mr Keating to settle tax liabilities of more than $3 million involving another of his companies, Verenna Pty Ltd. At the time, Mr Keating was questioned about his other companies, including Brenlex, and his advisers confirmed it had paid a significant amount of tax relating to the sale of shares and was up to date with its tax liabilities. Mr Keating agreed he would ensure his tax affairs were in order henceforth. However, the ATO later discovered that Brenlex owed $446,000 in tax from the sale of shares years earlier in Lake Technology, an audio engineering company Mr Keating had advised. Brenlex agreed to pay the tax debt, but the ATO demanded more than $600,000 in interest and penalties which had accrued in the years since Mr Keating sold the shares. These are known as a general interest charge (GIC) and late lodgement penalties. Mr Keating's advisers fought to avoid the interest and penalties, asking the tax office to write them off entirely via an ATO rule known as a "Commissioner's discretion". The argument went back and forth through 2013 and 2014. By October 2014, the debt had grown to $904,000, at which point the ATO sent a formal notice to not waive the interest and penalties charge. "Your request has been fully considered and it has been decided that on this occasion the circumstances detailed do not warrant remission of the GIC," the notice said. "There is a clear acknowledgement that the Company should have accounted for the disposal of shares in the relevant financial years returns and did not." In April the next year, the ATO issued Brenlex a formal creditor's statutory demand to pay the debt within 21 days, which had now grown to $953,396. Mr Keating then became involved in the correspondence as part of efforts by his advisers to persuade the ATO to waive the bill because, they said, it was an honest mistake. Mr Keating's advisers told the tax office the former prime minister had mistakenly believed his company Brenlex had paid the tax. They argued he had "inadvertently failed to advise his directors" of the sale, despite filing a substantial shareholder notice reporting the disposal of the Lake Technology shares. Mr Keating's advisers argued "the lodgement and payment of the Company returns were overlooked" but the tax office said "This is not a valid justification". The ATO was told Mr Keating had truly, though incorrectly, believed that all tax matters with Brenlex were up to date. The tax office refused to alter its position. In July 2015, a last-ditch letter from Brenlex was sent to the ATO requesting a meeting. Ten days later, the tax office made a backflip. In a four-line email it wrote off the almost $1 million debt. "I am able to confirm that the GIC and Late Lodgement Penalties … have been remitted in full," the email said. "Consequently the balance of the account has been reduced to nil and the amount payable as stated in the Creditors Statutory Demand is no longer owed." The email gave no reason for the sudden change of heart. The ATO's reversal of its decision, having issued the October 2014 notice, was unusual. Just how unusual can be seen from a joint submission to a Senate committee this year by five accounting bodies. They said it was unfair that the only recourse available to taxpayers to challenge this kind of decision was an appeal to the Federal Court, which was a "lengthy and complex process that is out of reach of most taxpayers". They complained that these decisions were "not subject to an internal ATO review. The only recourse available to the taxpayer is to appeal the ATO's decision in the Federal Court". In a reminder published on its website last month, the ATO said: "Taxpayers should be aware that remission requests are carefully assessed to ensure a level playing field for those taxpayers who pay on time." These revelations come at a time when the ATO's handling of this issue is under review. The Tax Ombudsman is scrutinising the management of general interest charges, to ensure "decisions are fair and reasonable and are made consistently for taxpayers in like circumstances". Typically, the ATO does not comment on the tax affairs of specific taxpayers due to confidentiality obligations. It told Four Corners in a statement that "inadvertently overlooking" the need to pay tax was generally not valid grounds on which to cancel GIC. "However, there may be instances where GIC is remitted when a taxpayer inadvertently overlooks the requirement to lodge a form or make a payment, depending on the individual circumstances of the taxpayer," the ATO said.
ABC News
23 minutes ago
- ABC News
Can customers trust how banks are using AI?
ING's Australia's chief executive Melanie Evans responds to ASIC's warning that the banks can't afford to get the implementation of artificial intelligence wrong.
News.com.au
an hour ago
- News.com.au
Energy Minister Chris Bowen says Barnaby Joyce and Michael McCormack's net zero protest a ‘dream ticket' to turf David Littleproud
Energy Minister Chris Bowen has jumped on a home goal kicked by 'virile' Nationals MPs Barnaby Joyce and Michael McCormack, as the Coalition faces a standoff against net zero targets. With the opposition stalled on a recommitment to Australia reaching net zero carbon emissions by 2050 until a policy review, Mr McCormack has issued a warning shot to party leaders, saying he would unite with his unlikely ally Mr Joyce on opposing the goal. Two pair had tussled for the regional party's top job, taking turns at the Nationals leadership before current leader David Littleproud ascended in 2022. The pair's position on net zero has raised questions over Mr Littleproud's leadership. Speaking to Sky News moments before the first question time of the 48th parliament, Mr McCormack hit back at comments put forward by the Coalition's energy spokesman. 'Dan Tehan this morning calling me a steer and Barnaby a steer – we're not gelded, we're not emasculated,' he said. 'We're very much virile and out there.' A mere few hours later, Mr Bowen took aim from the dispatch box during question time. 'The member for Riverina said on the Kieran Gilbert show, 'We're virile and we're out there,' the member for New England and member for Riverina,' Mr Bowen said. 'That this is not his Tinder profile, this is his dream ticket. He's not looking to swipe right, he's looking to swipe out the member for Maranoa, is what he's trying to do. 'But they're … really betraying people in rural and regional Australia, they are the ones who pay the price of drought and flood which will be more common and severe under climate change.' Mr Bowen's comments was one of the more noteworthy moments from the hour-long display of political theatre, formally known as question time. It was also Sussan Ley first as Opposition Leader, with the Coalition attempting to lob knives poised for Labor's ailing 1.2 million housing target and controversial superannuation tax. Dressed in a powder pink pants suit, Ms Ley stared down the Prime Minister and his army of 94 Labor MPs who spilt onto chamber benches normally reserved for the crossbench. The National Housing Accords were in her sights, with the promise to build 1.2 million homes by mid-2029 already lagging by about 55,000 following its first year. 'The Liberal Party I lead will always champion policies to help more Australians into a home of their own but under Labor the homeownership dream has never been further out of reach,' she said, asking the first question. 'With leaked Treasury advice confirming this is a broken promise, will the Prime Minister abandon his failing policies and work constructively with the Coalition to address Labor's housing crisis?' Criticism of Labor's plan to hit superannuation balances of more than $3m with a 30 per cent tax was also prosecuted, with the Coalition attacking the government over the proposal to hit unrealised capital gains. However, Mr Albanese, wearing a dark suit and dark blue tie, returned fire saying the tax would rebalance the superannuation system and only affect 0.5 per cent of accounts, while also quipping: 'The time to launch a scare campaign is before an election'. Elsewhere, Labor's majority was on full display. In an unsubtle but effective reminder to the Coalition and the Greens' sole lower house stalwart, Ryan MP Elizabeth Watson-Brown, Labor's Dorothy Dixers – the questions asked by government MPs to ministers – were all delivered by the MPs who turfed out a sitting Liberal or Greens MP. In order of appearance, they included Dickson's Ali France, Melbourne's Sarah Witty, Griffith's Renee Coffey, Emma Comer of Petrie, Gabriel Ng in Menzies, Hughes MP David Moncrieff, Jess Teesdale from Bass, Sturt's Claire Clutterham, Banks MP Zhi Soon, Deakin's Matt Greg, and Braddon's Anne Urquhart.
