Government Payments Data-Matching Program

The ATO will acquire government payments data from government entities who administer government programs for 2017/18 to 2022/23 financial years.

Director ID

Varying PAYG Instalments Due to COVID-19

Taxpayers can vary their pay as you go ('PAYG') instalments throughout the year if they think they will pay too much, compared with their estimated tax for the year.

Director ID

Preparing for the New Director ID Regime

As part of its Digital Business Plan, the Government announced the full implementation of the 'Modernising Business Registers' program.

Director ID

Documenting Gifts or Loans from Related Overseas Entities

The ATO is currently reviewing certain arrangements where Australian taxpayers seek to disguise undeclared foreign income as a gift or loan.

Director ID

Reminder for First-Time Share Investors to Declare Income

With the growth of micro-investment platforms helping new investors enter the market, the ATO has issued a reminder for first-time share and Exchange Traded Funds (‘ETF’) investors.

Office Christmas Party

Labor Commits to Income Tax Cuts and Certainty on Negative Gearing

The ALP has formally announced that, if elected to Government, they will deliver "the same legislated tax relief . . . as the Morrison Government".

Office Christmas Party

Reminder of SG Obligations for September 2021 Quarter

Under the Superannuation Guarantee (‘SG’) scheme, employers are required to make quarterly contributions on behalf of their employees.

Office Christmas Party

Additional ATO Support During COVID-19

The ATO is providing additional support to taxpayers having difficulty meeting their tax and superannuation guarantee charge obligations for employees because of COVID-19.

Office Christmas Party

ATO Support for Employers with Expansion of STP

As part of the expansion of Single Touch Payroll (known as STP Phase 2), from 1 January 2022, employers will need to report additional payroll information in their STP reports including:

Office Christmas Party

Paid Parental Leave Changes Support Parents in Lockdown

The Paid Parental Leave (‘PPL’) scheme has been amended to enable expectant parents whose work has been affected by COVID-19 lockdowns to access Parental Leave Pay or Dad and Partner Pay under the scheme.

Office Christmas Party

Extra Super Step When Hiring New Employees

Employers may soon need to do something extra when a new employee starts to work for them.

Office Christmas Party

Travel allowances and 'LAFHAs'

The ATO has released a Ruling explaining:

Office Christmas Party

ATO Warns Property Investors about Common Tax Traps

In 2019/20, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions, so the ATO is reminding property investors to beware of common tax traps that can delay refunds or lead to an audit costing taxpayers time and money.

Office Christmas Party

Time running out to register for the JobMaker Hiring Credit

The JobMaker Hiring Credit scheme's third claim period is now open, so if a taxpayer has taken on additional eligible employees since 7 October 2020, they may be able to claim JobMaker Hiring Credit payments for their business.

Office Christmas Party

Div.293 Concessional Contribution Assessments have been Issued

The ATO has recently issued approximately 30,000 Division 293 assessments for the 2018/19 and 2019/20 financial years.

Office Christmas Party

Extending Administrative Relief for Companies to Use Technology

The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001.

Office Christmas Party

Expansion of Support for SMEs to Access Funding

The Government is providing additional support to small and medium sized businesses ('SMEs') by expanding eligibility for the SME Recovery Loan Scheme.

Office Christmas Party

The ‘Gigs Up’ With a New Sharing Economy Reporting Regime

Treasury has released draft legislation introducing the long-awaited third party reporting regime (proposed to apply from 1 July 2022).

Office Christmas Party

New FBT Retraining and Reskilling Exemption Available

Recent legislative amendments mean that employers who provide training or education to redundant (or soon to be redundant employees) may now be exempt from fringe benefits tax (‘FBT’).

Office Christmas Party

Maximum Contributions Base For Super Guarantee

The maximum super contributions base is used to determine the limit on any individual employee's earnings base for superannuation guarantee purposes on a quarterly basis.

A Different Perspective

Government Payments Data-Matching Program

The ATO will acquire government payments data from government entities who administer government programs for 2017/18 to 2022/23 financial years.

Varying PAYG Instalments Due to COVID-19

Taxpayers can vary their pay as you go ('PAYG') instalments throughout the year if they think they will pay too much, compared with their estimated tax for the year.

Preparing for the New Director ID Regime

As part of its Digital Business Plan, the Government announced the full implementation of the 'Modernising Business Registers' program.

Documenting Gifts or Loans from Related Overseas Entities

The ATO is currently reviewing certain arrangements where Australian taxpayers seek to disguise undeclared foreign income as a gift or loan.

Reminder for First-Time Share Investors to Declare Income

With the growth of micro-investment platforms helping new investors enter the market, the ATO has issued a reminder for first-time share and Exchange Traded Funds (‘ETF’) investors.

Labor Commits to Income Tax Cuts and Certainty on Negative Gearing

The ALP has formally announced that, if elected to Government, they will deliver "the same legislated tax relief . . . as the Morrison Government".

Reminder of SG Obligations for September 2021 Quarter

Under the Superannuation Guarantee (‘SG’) scheme, employers are required to make quarterly contributions on behalf of their employees.

Additional ATO Support During COVID-19

The ATO is providing additional support to taxpayers having difficulty meeting their tax and superannuation guarantee charge obligations for employees because of COVID-19.

ATO Support for Employers with Expansion of STP

As part of the expansion of Single Touch Payroll (known as STP Phase 2), from 1 January 2022, employers will need to report additional payroll information in their STP reports including:

Paid Parental Leave Changes Support Parents in Lockdown

The Paid Parental Leave (‘PPL’) scheme has been amended to enable expectant parents whose work has been affected by COVID-19 lockdowns to access Parental Leave Pay or Dad and Partner Pay under the scheme.

Extra Super Step When Hiring New Employees

Employers may soon need to do something extra when a new employee starts to work for them.

Travel allowances and 'LAFHAs'

The ATO has released a Ruling explaining:

ATO Warns Property Investors about Common Tax Traps

In 2019/20, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions, so the ATO is reminding property investors to beware of common tax traps that can delay refunds or lead to an audit costing taxpayers time and money.

Time running out to register for the JobMaker Hiring Credit

The JobMaker Hiring Credit scheme's third claim period is now open, so if a taxpayer has taken on additional eligible employees since 7 October 2020, they may be able to claim JobMaker Hiring Credit payments for their business.

Div.293 Concessional Contribution Assessments have been Issued

The ATO has recently issued approximately 30,000 Division 293 assessments for the 2018/19 and 2019/20 financial years.

Extending Administrative Relief for Companies to Use Technology

The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001.

Expansion of Support for SMEs to Access Funding

The Government is providing additional support to small and medium sized businesses ('SMEs') by expanding eligibility for the SME Recovery Loan Scheme.

The ‘Gigs Up’ With a New Sharing Economy Reporting Regime

Treasury has released draft legislation introducing the long-awaited third party reporting regime (proposed to apply from 1 July 2022).

New FBT Retraining and Reskilling Exemption Available

Recent legislative amendments mean that employers who provide training or education to redundant (or soon to be redundant employees) may now be exempt from fringe benefits tax (‘FBT’).

Maximum Contributions Base For Super Guarantee

The maximum super contributions base is used to determine the limit on any individual employee's earnings base for superannuation guarantee purposes on a quarterly basis.

More Articles ...

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