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Property Buzz: Another Robodebt? Behind the ATO’s automated small business crackdown
Is Australia heading towards another Robodebt-style scandal? With the ATO accused of using automated systems to pursue struggling small businesses, and questions mounting over the accuracy of its debt collection practices, Phil Tarrant and Liam Garman examine whether the tax office has gone too far, and who’s holding it accountable. Meanwhile, the pair discuss the incomplete story on negative equity – and break down the true cost of selling.
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Another Robodebt? Behind the ATO’s automated small business crackdown
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Another Robodebt? Behind the ATO’s automated small business crackdown
On this episode of Property Buzz, Phil Tarrant and Liam Garman examine allegations that the ATO is using automated payroll and superannuation data matching to target small businesses, with discrepancies potentially triggering penalties of up to 200 per cent.
The pair question whether automated enforcement is producing inaccurate demands, drawing on concerns raised by accountants about the ATO’s increasingly aggressive approach. They also call for greater transparency around staff training, remuneration and accountability, warning of the pressure these practices could place on struggling business owners.
Meanwhile, Australia’s property downturn is gathering pace, with investor loan commitments plunging 30.6 per cent in the September quarter and first home buyer lending falling 8.6 per cent. With some mortgage brokers reporting an 80 per cent collapse in business, the hosts examine why agency principals are returning to the frontline and whether further industry consolidation is inevitable.
Finally, Tarrant and Garman unpack the major banks’ push to attract borrowers directly through cashback incentives, question the government’s investment tax reforms and examine the growing financial risks facing home owners as property prices and transaction volumes decline.
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