Registration and renewal delays at TPB

A representative of Tax & Super Australia (Practitioners Pathway) attended the Tax Practitioners Board (TPB) meeting held on 29 March. The TPB advised meeting attendees that due to internal under-resourcing and an exceptionally heavy workload, it is experiencing significant delays in processing agent registrations and renewals. To address this issue immediately, the TPB has committed

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Travel allowance substantiation exceptions: Use them (correctly) or lose them

At the end of September last year, the Taxation Commissioner Chris Jordan issued a consultation document on the substantiation exception for reasonable travel allowance expenses. “It is not unusual for the Commissioner to issue guidance on travel allowances”, say tax policy specialist Ken Mansell. “He releases an annual update on reasonable travel and meal allowance

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ATO may delay your client’s BAS for verification and checking

Statistics supplied by the ATO indicate that most GST refund claims (98% of them according to its data) are processed without any problem, but the ATO also says that every year it will select a small proportion of BAS refunds and temporarily hold onto them to check the accuracy of the information provided. If your

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Business tax relief package: What’s in it for SMEs?

Parliament has finally passed most of the business tax relief package announced in the last Federal Budget, but with some amendments. The legislation, which has finally passed the Senate, brings into effect the following changes for small business: Progressive cuts to the company tax rate: The tax rate will be progressively reduced to 27.5% from

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