The ATO has advised that it will engage in two new data-matching programs, as outlined below: • The ATO will acquire novated lease data from McMillan Shakespeare Group, Smartgroup Corporation, SG Fleet Group, Eclipx Group, LeasePlan, Toyota Fleet Management, LeasePLUS, and Orix Australia for 2018/19 through to 2022/23 financial years (relating to approximately 260,000 individuals
To support household income and create more jobs, the Government will deliver an additional $7.8 billion in tax cuts by retaining the low and middle-income tax offset (LMITO) in 2021-22. This is on top of the $25.1 billion in tax cuts announced in previous Budgets that is expected to flow to households in 2021-22. Around
Passenger movement data-matching program The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years, and match it with certain sections of ATO data holdings to identify taxpayers that can be provided with tailored information to help them meet their tax and superannuation obligations, or
Just a friendly reminder that 15 May 2021 is the final deadline to lodge your 2020 tax returns, so unless you have an alternative arrangement, please contact our office and provide all information by 23 April 2021. This will ensure that your return is lodged on time. Call us on (08) 9406 8537 or email
The ATO had previously advised it would no longer issue paper installment notices for PAYG and GST quarterly installments once an activity statement or installment notice is lodged, revised, or varied electronically through its online services, however, feedback from tax professionals have alerted the ATO to issues arising for some of their clients, as a
This tax time will be unlike any other, and it promises to be one of the most challenging yet. The 2019–20 financial year has seen our country, our people, our wildlife and our land affected by unprecedented events. From drought and water shortages, to severe bushfires and more recently the COVID-19 pandemic – every Australian
The ATO has now announced a number of deduction hotspots that it will pay close attention to this year, in light of COVID-19. The Tax Office has begun bracing for a substantially different tax time this year, noting that it will likely see a flow-on effect from COVID-19 restrictions on work-related expenses claims. ATO Assistant
If you’ve paid a tradie or other contractor for building and construction services in the last year, you might need to lodge a Taxable Payments Annual Report (TPAR) by 28 August, if: you earn 50% or more of your business income or 50% or more of your business activity is from building and construction – including
We have provided an Individual Tax Return Checklist, to ensure that you have all the pertinent documents and receipts required to complete your Individual Tax Return. Please download it here.
The ATO has provided employers with a recent reminder that from 1 January 2020, salary sacrificed super contributions can’t be used to reduce super guarantee obligations, regardless of the amount your employee elects to salary sacrifice. This means the salary sacrificed amount does not count towards your super guarantee (SG) obligations. A further change
