Reporting additional members on your SARSelf-managed super funds can now report up to 6 members on their SAR. 18 May 2022 |
Notifying the ATO of any SMSF changesMake sure to keep the ATO informed when making any changes to your SMSF. 18 May 2022 |
Delays in processing super ENCCThe 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 adviceFrom 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 |
Resuming offsetting of debts on holdThe ATO will recommence offsetting your clients’ credits to pay off their debts on hold from June 2022. 17 May 2022 |
Base rate entities and the lower company tax rateCorporate tax entities have been found incorrectly determining their status as a base rate entity and accessing the lower company tax rate. Help your clients correctly determine their status as a base rate entity and claim the correct tax rate. 16 May 2022 Accountants Desktop Comment |
Four priorities for the ATO this tax timeThe Australian Taxation Office (ATO) has announced four key focus areas for Tax Time 2022. 16 May 2022 |
Debts on holdNon-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 |
Deferral requests during peak lodgment periodsIt can take 28 days to process deferral requests during peak lodgment times. Some of your clients may have until 5 June to lodge and pay without requesting a deferral. 14 Apr 2022 |
Keeping businesses safe with eInvoicingeInvoicing can help prevent invoice fraud and reduce compliance impacts caused by invoicing errors. 12 Apr 2022 |
Reduced minimum super drawdown rates extendedNew legislation has been registered to extend the temporary 50% reduction of superannuation minimum drawdown rates until the 2022–23 income year. 11 Apr 2022 |
Lodgment reminder for Child Care Subsidy and Family Tax Benefit recipientsChild Care Subsidy and Family Tax Benefit recipients and their partners must lodge their outstanding 2021 tax returns by 30 June 2022 to avoid losing their benefits. 1 Apr 2022 |
Director penalty noticesWarning letters are being issued to company directors about personal liability for unpaid company tax debts. 28 Mar 2022 |
Disclosure of business tax debtsEffectively engage with the ATO about your clients’ business tax debt to avoid disclosure to credit reporting bureaus. 28 Mar 2022 |
Changes to the work test requirements for superannuation contributionsFrom 1 July 2022, members under 75 years of age will no longer have to meet the work test to make superannuation contributions. 25 Mar 2022 |
The ATO is paying interest on early payments automatically from March 2022The automation of interest on early payments (IEP) means that you will no longer need to contact the ATO to request payment of your clients’ future IEP entitlements. 21 Mar 2022 |
Get ready for fringe benefits tax time 2022Request an FBT client list to determine which of your clients need to lodge an FBT return or non-lodgment advice. 18 Mar 2022 |
Eligibility age change for downsizer contributionsFrom 1 July 2022, the eligibility age for downsizer contributions will reduce from 65 to 60 years old. 3 Mar 2022 |
First Home Super Saver Scheme – increasing the maximum releasable amount to $50,000 and technical amendmentsThe Australian Government announced in the 2021-22 Federal Budget it will improve the First Home Super Saver scheme and increase the maximum releasable amount up to $50,000. 24 Feb 2022 |
Super to cover more employeesFrom 1 July 2022, your employer clients will be required to make super guarantee contributions to their eligible employee’s super fund. The $450 per month threshold has been removed to expand the coverage of super guarantee to eligible employees regardless of their monthly pay. 23 Feb 2022 |
Unit trust arrangementsThe ATO has concerns about arrangements involving units trusts and unpaid present entitlements that may have implications under Division 7A. 23 Feb 2022 |
New guidelines aim to combat cybercrimeThe 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 |
Deductibility of COVID-19 testsThe Government has announced plans to introduce legislation to make COVID-19 tests (including Rapid Antigen Tests) tax deductible for testing taken to attend a place of work and ensure that fringe benefits tax will not be incurred by employers where they provide these tests to their employees for this purpose. 7 Feb 2022 |
Strengthening client verification guidelinesRefer to our guidelines for minimum requirements on performing client verification to be voluntarily adopted by registered tax practitioners. 31 Jan 2022 |
Director ID: a requirement for company directorsDirector identification number (director ID) is a requirement for all directors. The application is available at Australian Business Registry Services (ABRS). 11 Jan 2022 |
Changes to ABN detailsYou can now update your ABN to include an additional four business activities. 4 Jan 2022 |
Guidance for allocation of professional firm profit and incomePractical Compliance Guideline PCG 2021/4 on the ATO compliance approach to the allocation of profits or income from professional firms. 16 Dec 2021 |
Stapled super funds for employersAs 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 |
Electronic sales suppression toolsElectronic sales suppression tools are used to illegally reduce the value of, or delete, a business’ sales transactions. 10 Dec 2021 |
Reported transactions in ATO onlineInformation to help you to understand your Reported Transactions in ATO online services. 3 Dec 2021 |
Disclosure of business tax debtsBusinesses 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 availableYou 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 |
ABN intent to cancel programDuring 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 returnIf 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-19Due to the ongoing impacts of COVID-19, the ATO is extending support to pay as you (PAYG) instalment variations. 13 Oct 2021 |
Cryptocurrency – investment or personal use assetIf 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 |
Temporary full expensing videosThe 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 amountsIndividuals 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 entitlementsThe ATO is aware of schemes that may be used to create inappropriate entitlements to the cash flow boost for employers. 30 Aug 2021 |
Get ready to lodge your TPARIf 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 overdueIf 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 checklistsA range of checklists designed to help trustees manage their SMSF through different stages of the fund. 20 Jul 2021 |
Closely held payeesSingle Touch Payroll reporting for small businesses, companies or trusts with directly related (closely held) payees. 20 Jul 2021 |
TPAR – check if you need to lodgeIf 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-19Find 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 STPInformation 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-19Your 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 loansBorrowers affected by COVID-19 can apply for administrative relief for Division 7A minimum yearly repayments. 17 Jun 2021 |
How much super to payThe minimum superannuation employers must pay for each eligible employee is 10% of their ordinary time earnings (OTE). 17 Jun 2021 |
What’s new for small businessSmall 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 depreciationInformation on how businesses apply the backing business investment rules to access accelerated depreciation. 1 Jun 2021 |
ATO warns on copy pasting claimsThe 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 incentivesThe information on this page is a guide to tax depreciation incentives and when businesses could consider using them. 20 May 2021 |
Modernising Business RegistersThe Modernising Business Registers (MBR) program aims to streamline how you register, view and maintain business information with government. 13 Apr 2021 |
Auditor IndependenceApproved 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 expensingBusinesses 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 |
Changes to STP reporting from 1 JulyChanges 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 |
Loss carry back tax offsetIn 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 CreditTo qualify, both employers and employees must meet eligibility criteria. 7 Dec 2020 |
Cash flow coaching kitThe 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 instalmentsFind 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 |
Backing business investment – accelerated depreciationInformation on how businesses apply the Backing business investment rules to access accelerated depreciation. 20 Aug 2020 |
More employees now able to access JobKeeperMore 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 |
ATO zeroes in on COVID-19 fraudThe 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 |
Assessing the risk: allocation of profits within professional firmsHow 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 |
Cash flow boost for employers – schemes to artificially create or inflate entitlementsThe 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 arrangementsThe 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 nowThe 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 shortcutThe 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-19Information and assistance if you have been affected by COVID-19 outbreak 17 Mar 2020 |
Support measures to assist those affected by COVID-19The 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 TPARThe 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 |
Full Federal Court finds Racing Clubs are liable for SGC on unpaid super for jockeysThis 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 PayrollThe 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 SmartThere 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 QueenslandThe 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 paymentsYou 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 investorsOn 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 |
Applying the margin scheme correctlyMake 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 agenciesThe 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 firmsHow 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 |
ATO watching for foreign income this Tax TimeThe 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 rulesThe Federal Court handed down two decisions relating to personal services income (PSI) rules yesterday. 13 Aug 2019 |
Lodging your TPARYou 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 claimsThe 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 payeesInformation on the quarterly reporting concession for closely held payees 19 Jun 2019 |
Unreported ‘cash in hand’ payments to workers no longer tax deductibleThe 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 – 2019The 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 newContent related to any new legislation for study and training loans. 5 Jun 2019 |
ATO to iron out false laundry claimsThe 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 accountsSuper 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 upGuidance for SMSF auditors on auditing an SMSF that is is winding up 17 May 2019 |
Help with your lodgment programIf you are experiencing difficulties managing your lodgment program due to unforeseen circumstances, help is available. 8 May 2019 |
How the ATO deals with non-complianceThe 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 complianceThe 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 deductionsRental 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 recordFrom 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 PayrollLegislation 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 businessSmall 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 rightThe Australian Taxation Office is once again extending its data matching program, this time focussing on share data. 30 Oct 2018 |
Ban on electronic sales suppression toolsAn 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 businessSmall businesses have access to a range of tax concessions. This page summarises the latest concessions available to small businesses. 26 Sep 2018 |
ATO News
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