ATO News

Coming soon: changes to activity statements and on demand reports

In response to your feedback, the ATO are making significant changes to on demand reports and activity statements. Find out about these changes and how they will impact you.

1 Dec 2021

Disclosure of business tax debts

Businesses who meet certain criteria may have their tax debt information reported to credit reporting bureaus.

29 Nov 2021

Loss carry back tax offset tool now available

You can now use the new loss carry back (LCB) tax offset tool to help you determine your eligibility, calculate the maximum amount of tax offset you can claim and help complete the LCB labels in your company tax return correctly.

24 Nov 2021

Employee’s super will now follow them

From 1 November 2021, most employers will need to request a new employee’s stapled super fund details when they don’t choose a super fund.

4 Nov 2021

Available now: director ID application

Your clients can now apply for their director identification number (director ID). From 1 November 2021, new directors have a set period to apply.

2 Nov 2021

ABN intent to cancel program

During November and December, the ATO may contact you or your clients to advise our intention to cancel their Australian business number (ABN), where there is evidence they are no longer carrying on an enterprise.

1 Nov 2021

Private company directors: lodge or review your return

If you are a director of a private company, make sure to lodge your tax return and declare all your income earned.

14 Oct 2021

Varying your PAYG instalments due to COVID-19

Due to the ongoing impacts of COVID-19, the ATO is extending support to pay as you (PAYG) instalment variations.

13 Oct 2021

Preparing for your director ID

Director ID is a new requirement for all directors. If you’re a director of a corporate trustee of a SMSF you can apply for a director ID from November 2021 on the new Australian Business Registry Services.

7 Oct 2021

Cryptocurrency – investment or personal use asset

If you have clients with cryptocurrency, you need to know how your clients are using it, such as if it is an investment, used in a business or a personal use asset for CGT purposes.

29 Sep 2021

Varying your PAYG instalments due to COVID-19

Advice for taxpayers seeking to vary their PAYG instalments as a result of COVID-19.

17 Sep 2021

Changes to actuarial certificate requirements

Law has recently passed which removes a requirement for superannuation trustees to obtain an actuarial certificate when calculating exempt current pension income.

15 Sep 2021

Temporary full expensing videos

The ATO has released a series of videos to help you understand the temporary full expensing measure.

7 Sep 2021

Re-contribution of COVID-19 early release super amounts

Individuals can now re-contribute amounts they withdrew under the COVID-19 early release of super program.

31 Aug 2021

Cash flow boost for employers – schemes to artificially create or inflate entitlements

The ATO is aware of schemes that may be used to create inappropriate entitlements to the cash flow boost for employers.

30 Aug 2021

Your SMSF annual return may be due by 31 October 2021

Some SMSFs have their annual return (SAR) due by 31 October 2021. Make sure you have an appointed auditor and your accounts and statements are in order.

24 Aug 2021

Appointing an auditor before lodging your SAR

You must appoint an approved SMSF auditor to audit your fund no later than 45 days before you need to lodge your SMSF annual return (SAR).

24 Aug 2021

Checking progress of return with the refreshed ATO app

Read more about the benefits of the refreshed ATO app which allows your clients to check the progress of their return, view lodgment and payment due dates, update their details and more.

4 Aug 2021

Avoid mistakes when claiming LCB

Read about the common errors we are seeing when claiming loss carry back (LCB) and tips to avoid them to prevent processing delays for your clients.

3 Aug 2021

Get ready to lodge your TPAR

If your organisation pays contractors to provide certain services, you may need to lodge a Taxable payments annual report (TPAR) due 28 August.

3 Aug 2021

STP finalisations are now overdue

If you haven’t submitted your 2021 finalisation declaration through your STP-enabled software, you should do so now or apply for a deferral.

30 Jul 2021

SMSF checklists

A range of checklists designed to help trustees manage their SMSF through different stages of the fund.

20 Jul 2021

Keep records when working from home

If your clients are continuing to work from home during the 2021–22 income year, remind them to keep a record of the hours they work from home as well as keep receipts for all items purchased.

20 Jul 2021

Closely held payees

Single Touch Payroll reporting for small businesses, companies or trusts with directly related (closely held) payees.

20 Jul 2021

Membership increase on ABR available from mid-August

You will be able to add a fifth or sixth member to your SMSF using the Australian Business Registry from mid-August.

14 Jul 2021

Changes to payment plans and debt management

The ATO has introduced changes to improve your experience managing your clients’ payment plans.

14 Jul 2021

TPAR – check if you need to lodge

If you pay contractors to provide certain services, you may need to lodge a Taxable payments annual report (TPAR), due 28 August.

12 Jul 2021

Rent or lease concessions due to COVID-19

Find out about potential changes to tax obligations if your business has received, or given, a rent concession as a result of COVID-19.

12 Jul 2021

End-of-year finalisation through STP

Information about making a finalisation declaration if you’re reporting through Single Touch Payroll (STP).

29 Jun 2021

Clients selling property for $750K +

If you have clients selling property, they need to request clearance certificates early.

24 Jun 2021

Rent or lease payment changes due to COVID-19

Your business tenant or landlord tax obligations may change if you give or receive rent concessions as a result of COVID-19.

21 Jun 2021

Extension of time to make minimum yearly repayments on Division 7A loans

Borrowers affected by COVID-19 can apply for administrative relief for Division 7A minimum yearly repayments.

17 Jun 2021

How much super to pay

The minimum superannuation employers must pay for each eligible employee is 10% of their ordinary time earnings (OTE).

17 Jun 2021

Updated personal transfer balance cap available online from 5 July 2021

The superannuation general transfer balance cap will be indexed on 1 July 2021 and individuals will be able to view their new personal transfer balance cap online.

16 Jun 2021

Family assistance payments

Your clients and their partners may need to lodge their 2020 income tax return by 30 June 2021 to make sure they don’t miss out on family assistance payments. Lodgment deferrals do not alter this requirement.

8 Jun 2021

What’s new for small business

Small businesses have access to a range of tax concessions. This page summarises the latest changes to concessions available to small businesses.

2 Jun 2021

Backing business investment – accelerated depreciation

Information on how businesses apply the backing business investment rules to access accelerated depreciation.

1 Jun 2021

Super Guarantee rate rising 1 July

The superannuation guarantee rate will increase from 9.5% to 10% on 1 July 2021.

28 May 2021

Reminder: New accounting standard AASB 2020-2 applies from 1 July 2021

Reminder, the new accounting standard released by the Australian Accounting Standards Board applies from 1 July 2021 and may change how you prepare SMSF’s financial statements.

27 May 2021

New R&D Tax Incentive customer portal

The Department of Industry, Science, Energy and Resources has launched a new portal to make it easier for companies to manage their applications for the Research and Development (R&D) tax incentive.

25 May 2021

Outstanding SARs may lead to serious consequences

The ATO has previously contacted SMSFs with outstanding SARs.  SMSFs who have had no engagement with the ATO regarding their non-lodgments will be issued a final warning.

21 May 2021

ATO warns on copy pasting claims

The ATO is alerting taxpayers that its sights are set on work-related expenses like car and travel claims that are predicted to decrease in this year’s tax returns.

20 May 2021

Interaction of tax depreciation incentives

The information on this page is a guide to tax depreciation incentives and when businesses could consider using them.

20 May 2021

2021 FBT returns

The lodgment and payment due date for fringe benefits tax (FBT) returns lodged electronically is now 25 June. Request an FBT client list and check which clients need to lodge an FBT return this year.

30 Apr 2021

Peak lodgment period deferral requests

The ATO can take 28 days to process deferral requests at peak lodgment times. Remember, some of your clients may have until 5 June to lodge and pay without requesting a deferral.

26 Apr 2021

JobKeeper overpayments

What to do if you have received a JobKeeper overpayment that you (or your employees) were not eligible for.

22 Apr 2021

Modernising Business Registers

The Modernising Business Registers (MBR) program aims to streamline how you register, view and maintain business information with government.

13 Apr 2021

Auditor Independence

Approved self-managed super fund (SMSF) auditors must comply with independence requirements as part of their professional obligations under the superannuation laws.

1 Apr 2021

Temporary full expensing

Businesses may be able to use temporary full expensing to claim an immediate deduction for the cost of eligible assets and improvements to existing assets.

31 Mar 2021

Review your clients’ PAYG instalments

Now is a good time to check your clients’ pay as you go (PAYG) instalments reflect their expected end of year tax liability. You and your clients should regularly review their tax position and vary their instalments if required.

15 Mar 2021

JobMaker Hiring Credit – three simple steps

Eligible employers can claim the JobMaker Hiring Credit for eligible additional employees hired until 6 October 2021. Learn more about what you need to do to claim.

10 Mar 2021

New guidance for the allocation of professional firm profits

PCG 2021/D2 outlines our compliance approach for the allocation of professional firm profits or assessable income of the individual professional practitioner.

2 Mar 2021

Changes to STP reporting from 1 July

Changes to Single Touch Payroll (STP) reporting for small employers with closely held payees and quarterly reporting for micro employers start from 1 July 2021. If you haven’t started reporting through STP, start as soon as possible.

24 Feb 2021

Changes to STP reporting from 1 July

There are changes to Single Touch Payroll (STP) reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021. These changes may affect how you and your employer clients report to the ATO. If any of your employer clients haven’t started reporting through STP, encourage them to start as soon as possible.

11 Feb 2021

Temporary full expensing available for businesses

Eligible businesses can claim the temporary full expensing deduction in their 2020–21 and 2021–22 income years.

16 Dec 2020

Loss carry back tax offset

In the 2020–21 and 2021–22 income years, corporate entities may be able to claim a refundable tax offset if their businesses made tax losses in the 2019–20, 2020–21 or 2021–22 income years.

14 Dec 2020

Register your business for the JobMaker Hiring Credit

To qualify, both employers and employees must meet eligibility criteria.

7 Dec 2020

Important considerations when hiring workers

The ATO have outlined some useful checklists and tools.

30 Nov 2020

Getting the margin scheme right

If your clients are buying or selling property and thinking of using the margin scheme, they must be eligible before the sale goes through. Find out how to avoid common errors and what to do if your clients make a mistake.

16 Nov 2020

Cash flow coaching kit

The Cash flow coaching kit supports tax professionals to help small business clients effectively manage their cash flow. How to access the kit, attend a webinar and watch the ATO show me how videos.

6 Nov 2020

Instalment notices for GST and PAYG instalments

Find out about when you’ll receive a quarterly goods and services tax (GST) or pay as you go (PAYG) instalment notice instead of a business activity statement (BAS).

6 Nov 2020

JobKeeper overpayments

What to do if you have received a JobKeeper overpayment that you (or your employees) were not eligible for.

19 Oct 2020

No Penalties for Varying your PAYG instalments

Varying your pay as you go (PAYG) instalments during these uncertain economic times.

8 Sep 2020

Backing business investment – accelerated depreciation

Information on how businesses apply the Backing business investment rules to access accelerated depreciation.

20 Aug 2020

More employees now able to access JobKeeper

More employees are now able to access JobKeeper following implemented changes to the JobKeeper employee eligibility rules. The key date for assessing which employees are eligible for JobKeeper is now 1 July 2020.

19 Aug 2020

Paid contractors? Your Taxable payments annual report is due 28 August

Work out if your business needs to lodge a TPAR.

17 Jul 2020

Claiming deductions for payments to workers

Payments your business clients make to workers are tax deductible only if they have complied with the pay as you go (PAYG) withholding obligations for those payments.

13 Jul 2020

What’s new in pre-filling?

Find out what’s new in pre-filling this year.

10 Jul 2020

Division 7A administrative relief for minimum yearly repayments

Borrowers affected by the COVID-19 situation can apply for administrative relief for Division 7A minimum yearly repayments.

3 Jul 2020

Taxation treatment of distributions of income from testamentary trusts to minors

Legislation has been enacted changing the taxation treatment of distributions of net income from testamentary trusts to minors. The new law applies to property acquired or transferred from 1 July 2019

2 Jul 2020

EOFY, STP and your employees

Your end-of-financial-year process will change when you report through STP, and your employees will access their income statement in their myGov account linked to ATO.

24 Jun 2020

Businesses to report contractor payments under the Taxable payments reporting system

The TPRS has been expanded to businesses providing cleaning, courier, road freight, IT, security, investigation and surveillance services.

24 Jun 2020

ATO zeroes in on COVID-19 fraud

The Australian Taxation Office (ATO) is building on its significant efforts zeroing in on fraud and schemes designed to take advantage of the government’s COVID-19 stimulus package. This includes JobKeeper, early release of superannuation, and boosting cash flow for employers.

23 Jun 2020

Maintaining the integrity of COVID-19 stimulus measures

The ATO are working hard to ensure fairness in administering COVID-19 stimulus measures.

22 Jun 2020

Assessing the risk: allocation of profits within professional firms

How the ATO assess the risk of Part IVA applying to the allocation of profits from a professional firm where the income is not personal services income.

22 Jun 2020

Inappropriate use of myGov

The ATO are reminding tax practitioners that using your clients’ personal login details to access their individual ATO Online accounts through myGov is not an approved channel to manage your clients’ tax affairs.

6 May 2020

Cash flow boost for employers – schemes to artificially create or inflate entitlements

The ATO are aware of schemes that may be used to create inappropriate entitlements to the cash flow boost for employers.

17 Apr 2020

Cash flow boost for employers – fraudulent arrangements

The ATO

will be looking out for businesses which try to fraudulently access the cash flow boost for employers.

17 Apr 2020

Employers need to get ready for JobKeeper now

The new JobKeeper Payment has now passed through parliament and the Australian Taxation Office is working to assist business to access the scheme, helping them to retain their employees.

16 Apr 2020

New working from home claim shortcut

The Australian Taxation Office (ATO) is announcing special arrangements this year due to COVID-19 to make it easier for people to claim deductions for working from home.

7 Apr 2020

COVID-19

Information and assistance if you have been affected by COVID-19 outbreak

17 Mar 2020

Support measures to assist those affected by COVID-19

The ATO will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.

12 Mar 2020

Lodging your TPAR

The Taxable payments annual report (TPAR) is due by 28 August. Businesses can lodge online or on paper. Government entities must lodge online. Watch the ATO video to find out how to lodge online.

7 Feb 2020

Natural disasters

If you or your clients are affected by natural disasters, such as cyclone, flood, bushfire drought or storm, the ATO can help you with your lodgment program and reconstructing records.

9 Jan 2020

Expanding tax incentives for investments in affordable housing

Resident individuals who invest in qualifying affordable housing after 1 January 2018 may be eligible for an additional ten percentage point CGT discount.

23 Dec 2019

Full Federal Court finds Racing Clubs are liable for SGC on unpaid super for jockeys

This week, the Full Federal Court ruled in favour of the Australian Taxation Office (ATO), agreeing that horse racing clubs and state racing boards are required to pay superannuation contributions on behalf of jockeys.

18 Dec 2019

Small employers urged to make the switch to Single Touch Payroll

The ATO is urging small employers who’ve not yet made the switch to Single Touch Payroll (STP) to get in touch if they need help to transition.

19 Nov 2019

Super Scheme Smart

There are a number of schemes targeting Australians planning for their retirement. These schemes encourage individuals to send money inappropriately through their self-managed super fund (SMSF).

19 Nov 2019

ATO grants two month deferral for bushfire victims in New South Wales and Queensland

The Australian Taxation Office (ATO) today announced that it will grant a two month lodgment and payment deferral to taxpayers impacted by the recent catastrophic bushfires in New South Wales and Queensland.

18 Nov 2019

Removing tax deductibility of non-compliant payments

You can only claim deductions for payments you make to your workers where you have complied with the PAYG withholding and reporting obligations for that payment.

30 Oct 2019

Capital gains tax changes for foreign investors

On 9 May 2017, the government announced that Australia’s foreign resident capital gains tax (CGT) regime will be extended to deny foreign and temporary tax residents access to the CGT main residence exemption.

29 Oct 2019

Expanding tax incentives for investments in affordable housing

Resident individuals who invest in qualifying affordable housing after 1 January 2018 may be eligible for an additional ten percentage point CGT discount.

24 Oct 2019

Applying the margin scheme correctly

Make sure your clients are eligible to use the margin scheme before they sell property, and that amendments to the law are applied correctly.

9 Oct 2019

External collection agencies

The ATO are continuing to use external collection agencies to obtain overdue lodgments on their behalf. In late September you may receive an email with a list of your clients who have overdue lodgment obligations. The ATO will contact these clients and may refer them to an external collection agency.

26 Sep 2019

Assessing the risk: allocation of profits within professional firms

How the ATO assess the risk of Part IVA applying to the allocation of profits from a professional firm where the income is not personal services income.

24 Sep 2019

Have you used the margin scheme correctly?

Familiarise yourself with the margin scheme before selling property, to determine your eligibility to use the scheme and ensure the law is applied correctly.

20 Sep 2019

ATO watching for foreign income this Tax Time

The ATO is urging taxpayers who receive any foreign income from investments, family members or working overseas to make sure they report it this tax time.

15 Aug 2019

Federal Court provides clarification on the personal services income rules

The Federal Court handed down two decisions relating to personal services income (PSI) rules yesterday.

13 Aug 2019

Lodging your TPAR

You need to lodge your Taxable payments annual report (TPAR) by 28 August. Businesses can do this online or by paper form. Government entities must lodge their report online.

27 Jun 2019

ATO puts the brakes on dodgy car claims

The ATO is making work-related car expenses a key focus again during Tax Time 2019. This follows warnings by the ATO last year that work-related car expenses would face greater scrutiny.

25 Jun 2019

STP and closely held payees

Information on the quarterly reporting concession for closely held payees

19 Jun 2019

Unreported ‘cash in hand’ payments to workers no longer tax deductible

The Australian Taxation Office (ATO) today reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible.

18 Jun 2019

Tax time tips for small business – 2019

The Australian Taxation Office (ATO) is lending a helping hand to nearly four million small businesses to get their tax right this tax time.

14 Jun 2019

Single Touch Payroll starts 1 July – small employers are you ready?

The ATO strongly encourage all employers with 19 employees or less to get on board and start reporting through Single Touch Payroll from 1 July 2019.

11 Jun 2019

Study and training loans – what’s new

Content related to any new legislation for study and training loans.

5 Jun 2019

ATO to iron out false laundry claims

The ATO will target false clothing and laundry work-related expense claims this tax time. In 2018, around six million people claimed work-related clothing and laundry expenses totalling nearly $1.5 billion.

4 Jun 2019

Inactive low-balance super accounts

Super funds are required to transfer the balance of inactive low-balance accounts to us and, where possible, we’ll proactively consolidate these into active super accounts.

24 May 2019

Auditing an SMSF that is winding up

Guidance for SMSF auditors on auditing an SMSF that is is winding up

17 May 2019

Help with your lodgment program

If you are experiencing difficulties managing your lodgment program due to unforeseen circumstances, help is available.

8 May 2019

Director penalty regime

As a director, you must ensure your company complies with its tax and super obligations. Failure to do so will result in a personal liability.

3 May 2019

How the ATO deals with non-compliance

The ATO main focus is encouraging SMSF trustees to comply with the super laws, but there are occasions when stronger responses are warranted.

3 May 2019

ATO receives cryptocurrency data to assist tax compliance

The Australian Taxation Office (ATO) is collecting bulk records from Australian cryptocurrency designated service providers (DSPs) as part of a data matching program to ensure people trading in cryptocurrency are paying the right amount of tax. Data to be provided to the ATO will include cryptocurrency purchase and sale information. Deputy Commissioner Will Day said the data will make up a key element in the ATO’s compliance program.

30 Apr 2019

Tax office to double audits of dodgy rental deductions

Rental property owners are being warned to ensure their claims are correct this tax time, as the ATO will double the number of audits scrutinising rental deductions.

17 Apr 2019

Statement of tax record

From 1 July 2019, tenderers and their first tier subcontractors applying for Commonwealth Government contracts over $4 million (including GST), must obtain a statement of tax record (STR) showing satisfactory engagement with the tax system.

26 Mar 2019

Time for small employers to get ready for Single Touch Payroll

Legislation to extend Single Touch Payroll (STP) reporting to all employers from 1 July 2019 is now law.

7 Mar 2019

What’s new for small business

Small businesses have access to a range of tax concessions. This page summarises the latest changes to concessions available to small businesses.

30 Jan 2019

New data on shares helps taxpayers to get it right

The Australian Taxation Office is once again extending its data matching program, this time focussing on share data.

30 Oct 2018

Shifty sales suppression tools now against the law

It is now illegal to manufacture, distribute, possess, use or sell electronic sales suppression tools (ESSTs).

10 Oct 2018

Ban on electronic sales suppression tools

An electronic sales suppression tool (ESST) is a tool used to facilitate tax evasion by manipulating business transaction records and under-reporting income.

5 Oct 2018

What’s new for small business

Small businesses have access to a range of tax concessions. This page summarises the latest concessions available to small businesses.

26 Sep 2018

What can you claim if you’re a flight attendant, police officer or a nurse?

With work-related expenses and rental property claims high on its radar this year, the Australian Taxation Office is stepping up help and advice for taxpayers who aren’t quite sure what they can and cannot claim.

29 Aug 2018

Copyright 2021 Accountants Desktop, Designed and Developed by Web Bird Digital