Wise Accounting Podcast (wap)

Hello and welcome back to the Wise Accounting Podcast. I cannot believe how many people have requested we re-introduce this over the past year, so, yes, after popular demand, we are back! Rather than catch up on the tax news that has occurred over the past year, we will just kick it off with the latest news, which for January is a surprisingly good dose.   MYEFO   There is good news afoot for the government (albeit potentially a little too late) with the mid-year economic and fiscal outlook improving from a deficit of $5.2b in 2018/19 to a surplus of $4.1b in 2019/20.   Some of the measures that re set to improve this position include:   Tax debt information disclosure — a 2016/17 MYEFO measure proposed to allow the ATO to disclose to Credit Reporting Bureaus the tax debt information of businesses with tax debt of more than $10,000 and who have not effectively engaged with the ATO to manage these debts. The measure will be amended to limit the disclosure to businesses with a tax debt of more than $100,000.