ATO

Practical tips and advice for tax practitioners from the ATO

The ATO has provided links to tips and advice for tax professionals about common errors, plus other topics of interest. Practical tips and advice for tax practitioners from the ATO For your practice, find out about: Where to find help for using the portals Client list – checks to make before clients are removed Reduce

[ Read More ]

Related-party LRBAs: Deadline is less than a week away

SMSF trustees and their advisers have less than a week left to re-arrange their LRBAs if they want to utilise the safe harbour LRBA terms contained in PCG 2016/5. According to PCG 2016/5, the terms of the fund’s LRBAs will not be subject to any further compliance action by the ATO for the 2014-15 income

[ Read More ]

ATO comments on the December 2016 system outage

Ramez Katf, chief information officer at the ATO, writes to tax practitioners in relation to the December 2016 ATO system outage. “I want to connect with you regarding our system outage at the end of last year and provide an explanation. I regret the impact the disruption of our services had on tax practitioners and our

[ Read More ]

Data matching by ATO targets card payments, online sales, ride sourcing

Every year, the ATO collects new data from financial institutions and matches this data with its own information, which is sourced from income tax returns, activity statements and other tax records. Data matching ATO targets card payments, online sales, ride sourcing It says that its current data matching activities are focused on gathering data on:

[ Read More ]