ATO News

 

ATO warning to rental property owners: don’t let your tax return be a ‘fixer-upper’

The ATO warns rental property owners to ensure that their tax returns are correct this tax time.

12 Jun 2024

High certainty pre-fill data expanding to cover more fields

From 1 July, high certainty data will cover Australian Government benefits and bank interest for joint account holders.

7 Jun 2024

Lodgment requirements for professional firms

If your clients are professional firms, or get income from professional firms, help them meet their lodgment obligations, including statements of distribution.

23 May 2024

Tax return lodgments for child support assessments

If your client has a child support case, they must lodge a tax return or complete a non-lodgment advice every year. Services Australia uses the income reported on your clients tax return to work out how much child support they pay or receive. It’s important they lodge their tax return as soon as possible to make sure they’re paying or receiving the right amount. If they don’t, they may get a debt or overpayment.

23 May 2024

Lodgment deadlines for FTB and CCS

If you have clients who receive Family Tax Benefit (FTB) or Child Care Subsidy (CCS), they and their partner must lodge their 2022–23 tax returns by 30 June.

If they don’t lodge by the deadline, Services Australia may require them to repay any money they received during the 2022–23 financial year. They may also miss out on any top-up payments that Services Australia pay after their payment is balanced.

23 May 2024

Changes are coming for trust tax returns

From 1 July, there’ll be changes to the way you report and submit trust tax returns.

7 May 2024

ATO flags 3 key focus areas for this tax time

The ATO announces its priorities for Tax Time 2024.

6 May 2024

Trust distributions done right

Learn about effective and compliant trust distributions for tax time.

1 May 2024

Corrected PAYG withholding cycle change letters issued

Earlier this month, the ATO may have written to you or your clients about changes to PAYG withholding cycles. They have conducted a review of these letters and identified a printing error where the optional text fields have been incorrectly populated. This error resulted in around 1,600 incorrect letters being sent to tax professionals. They have subsequently reissued corrected letters to those of you who were impacted. They apologise for any inconvenience caused by this error.

24 Apr 2024

Concession for tax returns due 15 May

For some clients’ tax returns due on 15 May, you may have until 5 June to lodge.

24 Apr 2024

Decoding Division 7A – managing loans

Avoid unexpected tax consequences by correctly managing the requirements of a Division 7A loan.

24 Apr 2024

Losses from crypto investments

The ATO are continuing to see instances where funds are reporting losses with crypto investments.

23 Apr 2024

New options to keep fringe benefits tax records

Alternative record keeping options are now available for certain benefits you provide to your staff.

4 April 2024

New FBT clients!

You have to add new clients to your FBT client list by 21 May 2024 to ensure they are covered by your lodgment program.

3 April 2024

Fringe benefits tax (FBT) time is here

If your client is an employer offering staff perks, get ready to lodge their FBT return.

27 Mar 2024

Changes to your pay as you go withholding cycle

Your pay as you go (PAYG) withholding cycle may change from 1 July.

27 Mar 2024

Can you claim the small business skills and training boost?

If you’re paying for your employees’ external training you could be eligible to claim the skills and training boost.

15 Mar 2024

Have your clients earned income for their personal efforts or skills

Find out if personal services income applies to your clients and how it works.

13 Mar 2024

Rental property data matching

Find out how the ATO data matching capabilities are increasing.

26 Feb 2024

Final call to take advantage of the lodgment penalty amnesty

Your eligible small business clients have just over 2 weeks to get back on track with the lodgment penalty amnesty. Lodgments eligible for the amnesty will have failure to lodge penalties remitted, without the need to apply. Encourage your clients to get back on track before 31 December.

15 Dec 2023

Deny deductions for ATO interest charges

After 1 July 2025 taxpayers will no longer be able to claim for ATO interest charges.

14 Dec 2023

Updated guidance on R&D claims

New taxpayer alerts on incorrect R&D claims that are attracting our attention.

14 Dec 2023

ATO pauses debt awareness campaign

In response to community feedback, the ATO has paused the awareness campaign around tax debts on hold.

28 Nov 2023

Do your clients have a holiday home?

Deductions can only be claimed for expenses on holiday homes incurred for the purpose of producing rental income.

23 Nov 2023

SMSFs investing in property

Important rules to understand before considering buying property using your self-managed super fund.

22 Nov 2023

Help your clients get GST right at settlement

GST at settlement may apply when buying or selling new residential premises or potential residential land.

21 Nov 2023

Small business directors may benefit from the lodgment penalty amnesty

Your eligible small business clients have until 31 December to benefit from the lodgment penalty amnesty. Directors that take advantage of the amnesty to bring their company’s lodgments up to date will have any failure to lodge penalties remitted if they’re reliant on those company lodgments to finalise their personal tax obligations. This applies to eligible lodgments made between 1 June and 31 December.

17 Nov 2023

Add new income tax clients before 31 October

You need to add new clients to your client list before 31 October to ensure they receive the tax agent lodgment program due dates. You don’t need to request deferrals after adding them as it can take up to 3 weeks for due dates to update on your client list.

19 Oct 2023

Taskforce action on electronic sales suppression tools

How the Serious Financial Crime Taskforce (SFCT) is warning against electronic sales suppression tools (ESSTs).

26 Sep 2023

The only way to request lodgment deferrals

The lodgment deferral function in Online services for agents is now the only way to request lodgment deferrals.

25 Sep 2023

The ATO is expanding client-to-agent linking to more businesses

The ATO is further strengthening the security of their online services by adding an extra control into the process before you can link to new clients or change authorisations for existing clients. From 13 November, client-to-agent linking will apply to all types of businesses with an ABN, excluding sole traders. Find out more as they support you and your clients through this change.

15 Sep 2023

Check your client’s family circumstances

Ask your client about their family circumstances before completing their tax return.

15 Sep 2023

ATO firm on deadline for contractor reporting

The Taxable payments reporting system is helping the ATO expose missing income and keeping things fair for businesses.

21 Aug 2023

Second-hand depreciating assets and rental properties

Find out if your clients can claim second-hand depreciating assets for their residential rental property.

21 Jul 2023

Claiming GST credits for employee expense reimbursements

Find out when GST registered businesses can (and can’t) claim GST credits for employee expense reimbursements.

14 Jul 2023

Tax Time 2023 videos for the tax profession

Join Senior Director Felix Manero and Assistant Commissioner Tim Loh for our Tax Time 2023 short videos series, highlighting key information and changes for tax professionals.

10 Jul 2023

Overview of key changes

Be aware of key changes and new measures when completing your clients’ 2023 tax returns.

28 Jun 2023

SMSFs and property development projects

The ATO has issued a Taxpayer Alert about arrangements involving SMSFs and property development projects.

16 Jun 2023

Rental property data matching

Find out about the latest on data matching and the protocols that have just been released.

13 Jun 2023

ATO PAYG withholding pre-fill for activity statements

From July 2023, the ATO will use your STP reports to help prepare your electronic activity statements in ATO online services.

13 Jun 2023

ATO expands data matching to ensure fair play

The ATO continues to expand its data-matching to ensure taxpayers don’t leave out income or inflate deductions.

13 Jun 2023

Small businesses given unique opportunity to get back on track with tax

The ATO encourages small businesses to lodge overdue returns and take advantage of the new penalty amnesty.

7 Jun 2023

ATO app helps clients come prepared

Find out how the ATO app can support conversations with your clients and save you time by helping your clients be prepared when it’s time to lodge.

26 May 2023

In the ATO’s sights this tax time

The Australian Taxation Office (ATO) has today announced its 3 key focus areas for this Tax Time.

15 May 2023

Budget – ATO Summary

ATO list of 2023-24 budget measures with proposed start dates and developments.

12 May 2023

Debts on hold

The ATO is writing to registered tax agents to provide them a list of their clients with debts on hold greater than $10 that may be affected by offsetting.

When a debt is on hold, the ATO does not try to collect it, however any credits or refunds clients become entitled to are used to offset the debt. The ATO website (link above) provides instructions on how to view these transactions in ATO online services.

The ATO is also writing to your clients if they expect them to have a credit or refund reduced by offsetting over the coming year.

11 May 2023

Small Business Support – $20,000 instant asset write-off

The Australian Government announced for the 2023–24 income year it will temporarily increase the instant asset write-off threshold from $1,000 to $20,000.

9 May 2023

Applying for a lodgment deferral

How to apply for a lodgment deferral and what happens next.

9 May 2023

Trustee resolutions

In the lead up to 30 June it’s important that trustees ensure their resolutions are effective and are managed accordingly.

8 May 2023

Small business energy incentive

Small businesses may receive an additional 20% deduction for electrification and efficient use of energy in 2023–24.

2 May 2023

Payday superannuation

From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages.

2 May 2023

New lodgment deferral function is here!

The new lodgment deferral function is now available in Online service for agents. You can access it under the Reports and forms menu.

26 April 2023

Family Trust Distribution Tax

In the lead up to 30 June it is timely to consider Family trust distribution tax (FTDT) and how it might impact your clients.

26 April 2023

Does your company have an overdue debt?

How to pay an overdue debt and avoid a director penalty notice.

5 April 2023

Correct process for requesting copies of tax documents

Correct process for requesting copies of tax documents

If you submit a COTD request and include notification of deceased documents, it will be rejected as these certified documents cannot be accepted via Online services for agents.

31 Mar 2023

Prepare for fringe benefits tax time

Request an FBT client list, add new clients, and notify the ATO if your clients don’t need to lodge an FBT return.

28 Mar 2023

One month to go. New lodgment deferral function coming

The ATO are on schedule to launch the new lodgment deferral function in Online services for agents in late April. Make sure you have your permissions set up.

27 Mar 2023

Overdue TPAR – penalties may apply

Failure to lodge penalties will be applied to some clients who have not lodged their TPAR on time.

13 Mar 2023

Don’t get caught out! Use Reported transactions in ATO online

Did you know you can use the Reported transactions function in Online services for agents to check for electronic payments that your clients receive?

The ATO recently showed an agent how to do this simple check. They found significant amounts of unreported income that their client hadn’t disclosed. They can now use this function to help ensure their clients’ lodgments are correctly reporting all income.

You can find instructions at Online services for agents user guide.

2 Mar 2023

Working from home deduction changes for 2022–23

The changes to the fixed rate method have now been finalised. Find out more about the changes, and the records that your clients need to keep.

16 Feb 2023

Is your point of sale system on the level?

Electronic sales suppression tools make things unfair for businesses doing the right thing.

14 Feb 2023

Interposed companies used to avoid tax under review

The ATO is reviewing arrangements using interposed companies to access private company profits without additional tax.

14 Feb 2023

Do your clients have a holiday home?

Your clients can only claim deductions to the extent their holiday home expenses are incurred for the purpose of producing rental income.

7 Feb 2023

ATO executes raids across the country as part of crackdown on dodgy sales suppression technology

Operation Flutter has swooped into action in a national crackdown on businesses suspected of supplying and using illegal electronic sales suppression tools (ESST) or software to avoid paying tax.

10 Dec 2022

New client-to-agent linking in online services

Understand the client-to-agent linking process in online services and access support material for you and your clients.

5 Dec 2022

New agent nomination process for businesses

How to authorise an agent in Online services for business as part of the agent nomination process.

5 Dec 2022

Statement from ABRS Registrar Chris Jordan on the director ID deadline

The Registrar of the Australian Business Registry Services (ABRS) Chris Jordan has confirmed that the ABRS will apply a pragmatic compliance approach to directors who are required to apply for a director ID by 30 November 2022, if they apply by 14 December 2022.

30 Nov 2022

Director ID – Time is running out

Directors of Australian companies have until 30 November to apply for a director ID. Don’t wait, apply online today.

21 Oct 2022

Support for your practice

Support is available to help you and your practice manage events that may affect your ability to manage your clients’ tax obligations.

10 Oct 2022

Draft tax determination on the use of an individual’s fame

Arrangements where an individual with fame establishes and enters an agreement with a related entity to use their fame.

5 Oct 2022

Lodge prior year tax returns to receive 2022 lodgment due dates

Lodge your clients’ prior year tax returns by 31 October 2022 so they receive your normal lodgment program due date for their 2022 tax return. After their prior year tax returns are lodged it can take up to 3 weeks for due dates to update in ATO systems. You don’t need to request a deferral in the meantime.

5 Oct 2022

Completing TFN declarations in ATO online services

Did you know your payees can provide their tax information for lump sum and income stream payments using the New employment form in ATO online services?

3 Oct 2022

Copies of tax documents request

Most requests for copies of tax documents can be made using ATO online services if you have the required authority.

20 Aug 2022

Taking the cryptic out of crypto this tax time

The Australian Taxation Office (ATO) wants taxpayers with crypto assets to make sure they know their obligations so they can lodge right the first time this tax time.

13 Jul 2022

Wash sales: The ATO is cleaning up dirty laundry

The Australian Taxation Office (ATO) is warning taxpayers to not engage in ‘asset wash sales’ this tax time.

27 Jun 2022

Client to agent linking in online services

The client to agent linking process is being updated to reduce the risk of unauthorised access to taxpayers’ online accounts. In a phased approach, businesses will nominate a tax agent to act on their behalf using Online services for business. The agent can then link that client in Online services for agents or their practice software.

Phase 1 impacts a small number of large public and multinational taxpayers. The ATO has contacted agents directly if their clients are included in this phase. Find out more about the implementation of this change and how it impacts you and your clients.

9 Jun 2022

Why your on-time lodgement performance result may go down

Your income tax on-time lodgment performance may change in Online services for agents after 15 May. Find out why by checking our On-time lodgment performance frequently asked questions.

24 May 2022

Delays in processing super ENCC

The ATO is contacting super funds to release excess contributions and associated earnings for clients who did not nominate the tax treatment of their excess non-concessional contributions (ENCC) for 2020 and prior years. Your client may receive an amended Notice of Assessment that includes the associated earnings on the excess contributions.

17 May 2022

TPAR non-lodgment advice

From 1 July 2022, if your clients are not required to complete a Taxable payments annual report (TPAR), let the ATO know by submitting a Non-lodgment advice (NLA) in Online services for agents. The TPAR NLA web form will be unavailable after 30 June 2022.

17 May 2022

Four priorities for the ATO this tax time

The Australian Taxation Office (ATO) has announced four key focus areas for Tax Time 2022.

16 May 2022

Debts on hold

Non-pursued debt is a debt the ATO have placed on hold. It’s not visible on your account balance but remains payable, any credits will be offset against it. .

14 Apr 2022

New guidelines aim to combat cybercrime

The Australian Taxation Office (ATO) and the Tax Practitioners Board (TPB) have developed new guidelines on client identity verification which will help improve security to stop criminals from committing tax fraud.

8 Feb 2022

Stapled super funds for employers

As of 1 November 2021, most employers will need to request stapled super fund details from the ATO for new employees that don’t choose a super fund.

15 Dec 2021

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