tax

Daily updates: 16-20 November

20 November NEWSNo more activity statement notification emails to registered agentsThe ATO has issued a statement notifying practitioners that it will no longer by emailing activity statement notice by email. Your clients’ monthly and quarterly activity statements are available online by the 16th of each month before they are due. The ATO says you can

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5 minute tax updates 2-6 November

Seasonal worker taxation fact sheet providedClients missed SG deadline?Ongoing small business focus from ATO revealedMore on exemption from FBT for retraining and reskilling benefitsNew guidance for re-shaped R&D incentiveSignificant SMSF reporting change buried in Treasury’s “portfolio” amendmentsProposal to change rules so super complaints can continue to be dealt withGST and property: Quick ATO guidance for

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Daily updates: 19-23 October

23 October NEWSABS: Less reporting fall in turnover in October compared to JulyThe Bureau of Statistics (ABS) has just published a report that shows the proportion of businesses reporting a fall in their monthly revenue decreased from 47% in July to 31% in October. Its latest Business Impacts of COVID-19 Survey also showed that almost

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5 minute tax update: 12-16 October

Data matching and the reporting of asset disposals for CGTIs ATO being put on a cost-of-operation diet?FFC hands decision win in Healius appeal to CommissionerSTP reporting: ATO has compiled a troubleshooting pageWithholding schedule update released post budget rates changesGuideline on SMSF penalty administrationChange made so super providers do not re-use payment reference numbersSMSF auditors reminded

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5 minute tax updates: 5-9 October

Insolvency reform consultation openSmall business tax concessions extended to more SMEsGranny flats to be CGT freeGST BAS toolkit under developmentGST and transaction account acquisitions made outside of AustraliaTPB announces increased service provision for BAS agentsE-invoicing unstoppableBusiness support grants in Victoria to be non-assessable (and could spread)Economy recovery bill introducedAdvisers get to give feedback on code

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5 minute tax updates: 28 September – 2 October

Updated guidance on Commissioner discretion over cash flow boost and JobKeeper eligibilityTPB warns practitioners to conduct thorough identity checksLand tax incentive for community housing in ACT expandedTwo factor authentication now required for TPB log insInformation needed for third party adjustment notes for GSTGST ruling issued for transaction account acquisitionsUpdate on home loan lenders with securitisation

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5 minute tax updates: 21-25 September

Updated PS LA on discretion exercised under COVID conditionsFair Work amendment legislation for continuing JobKeeper issuedATO virtual open forums for practitioners in OctoberDo you have business clients who may rack up losses for first time?Letter sent to outdated address no excuse, rules AATOne complaints door closes, another opensConsultation and feedback sought on reforms to foreign

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5 minute tax updates: 14-18 September

JobKeeper 2.0 rules have been releasedThree legislative instruments released on JobKeeper extensionAll your JobKeeper extension questions will be answeredUpdated guidance on JobKeeper from ATOQuo vardis GST?Land duty valuations: New guidance from Victorian SROFASEA confirms dates and venues for 2021 examsAcquisition of economic entitlements in VictoriaSun will not have set on permitted worker permits, so re-issuing

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5 minute tax updates: 7-11 September

SG amnesty is now closedForeign exchange rates updatedPS LA 2004/11 on documents used as a tax invoice updatedGIC and SIC rates, October to December 2020Revenue NSW releases practice note on payroll tax and sharesATO to issue practitioners with list of their JobKeeper clientsCorporate card holders and no-invoice input tax credit claimsCOVID-19 relief: Changes to the

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5 minute tax updates: 31 August – 4 September

Hybrid mismatch clarificationPRRT augmentation and GDP factors updated for 2020New guide released for R&D tax incentive – comments invitedCapital gains and foreign income tax offset adviceBoard of Tax says corporate tax residency rules need urgent reformTPB webinars for the rest of the calendar yearDetermination ensures continued access to cars and car parts for disabledBring forward

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