Blog
Employers and SMSFs must prepare for SuperStream
With the 30 June 2015 deadline fast approaching for medium to large employers to be SuperStream compliant, the ATO is urging these employers to act now to ensure they are SuperStream ready. Editor: For 'small employers' with 19 or fewer employees, SuperStream starts from 1 July 2015 and they hav ..
Government ends benefits for parents who do not vaccinate
The government has confirmed that eligibility for taxpayer-funded payments (including Child Care Benefit, Child Care Rebate and the Family Tax Benefit Part A end of year supplement) will be dependent on children having met early childhood immunisation requirements. The government will end th ..
2014 Online selling data matching program
The ATO will request and collect, from eBay Australia & New Zealand Pty Limited (which operates www.ebay.com.au) online selling data relating to between 15,000 and 25,000 individuals that sold goods and services of a total value of $10,000 or more for the period from 1 July 2013 to 30 June 2 ..
ATO super crackdown
The ATO has identified employers in the following industries as having a higher risk of not meeting their super obligations: child care services; building and industrial cleaning; and pubs, bars and taverns. The ATO is currently running an education campaign for ..
Contractor payments data matching program
The ATO has announced that it will continue to acquire details of entities that receive contractor payments from other businesses for the 2013/14, 2014/15 and 2015/16 financial years. The data that will be obtained includes: Australian Business Number (ABN) of the payer business; ABN ..
Eligibility for net medical expenses tax offset
The ATO has reminded taxpayers that the net medical expenses tax offset (NMETO) is being phased out. To be eligible for the NMETO for 2014/15, a taxpayer must have received an amount of the tax offset in both of their 2012/13 and 2013/14 income tax assessments. If a taxpayer's 2012/13 no ..
ATO Data Matching Programs
Editor: The ATO is carrying out two new data matching programs to identify non-compliance with registration, lodgment, reporting and payment obligations, i.e., looking for tax avoiders. Motor vehicles The ATO has announced a new "Motor vehicle data matching program" to collect details o ..
Construction Industry Annual Payments Report
The ATO is writing to businesses in the building and construction industry that have not lodged their 'Taxable Payments Annual Report', which was due to be lodged by 21 July 2014. Each year, businesses in the building and construction industry must complete the Taxable payments annual report ..
Bitcoin and ATO approach to past transactions
The ATO has finalised a number of its rulings (a GST Ruling and several Income Tax Determinations) relating to the application of the tax laws for Bitcoin and similar crypto-currencies. The ATO says all these rulings have application to tax periods before their date of issue (ie 17 December ..
Year end and other staff parties
Editor: With the December/January break on the way, many employers and businesses will be planning to reward staff with a celebratory party or event. However, important issues for our clients to consider are the possible FBT and income tax implications of providing 'entertainment' (including C ..
Recent Posts
- ATO watching for foreign income this Tax Time
- "Outrageous" deductions rejected
- ATO guidance regarding incorrect ENCC determinations
- The ATO hits the road
- Motor vehicle registries data matching program protocol
- ATO guidance regarding 'downsizer contributions'
- ATO Updates
- Company loans to shareholders under review
- Scammers impersonating tax agents
- Expansion of the TPRS