Business bulletins
Business bulletins provide the latest legislative, corporate and administrative tax news and information for medium to large businesses and their advisors.
We aim to keep you up to date by publishing news articles as issues arise.
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Business bulletin articles
GST on low value imported goods delayed until 1 July 2018
19 July 2017Proposed changes to GST on imported goods up to $1,000 from 1 July 2018.
Penalty increases for significant global entities: frequently asked questions
19 July 2017We have prepared a page of frequently asked questions about increased penalties for significant global entities (SGEs).
GST and residential care
19 July 2017Detailed information on GST and residential care to help service providers understand and meet their GST obligations.
Changes to capital gains withholding rules for foreign and Australian residents
18 July 2017Changes to the threshold and withholding rate for Foreign Resident Capital Gains Withholding (FRCGW).
Country-by-Country reporting: local file instructions now available
18 July 2017Instructions for completing Parts A and B of the local file for Country-by-Country reporting have now been published.
Country-by-Country (CbC) lodgments now accepted
18 July 2017Significant Global Entities can now commence electronically lodging Country-by-Country statements with the ATO.
Closing multinational tax loopholes
18 July 2017Find out what we are doing to tackle multinational tax avoidance.
Register of Foreign Ownership of Water
17 July 2017The Register of Foreign Ownership of Water was introduced on 1 July, 2017 to increase the transparency around foreign investment in Australia.
Applying GST to imported services and digital products
17 July 2017If you sell imported services or digital products to Australian consumers and you meet the GST registration turnover threshold, you need to register for Australian GST. If you're registered, you must remit GST.
Commonwealth penalty units increase
12 July 2017
The value of
the Commonwealth penalty unit will increase from $180 to $210, effective from 1
July 2017 and will automatically increase from 1 July 2020.
Sending us correspondence? Add more client identifiers
30 June 2017Including additional unique client identifiers in correspondence sent to us will assist with processing requests more efficiently.
Multinational Anti-Avoidance Law (MAAL)
29 June 2017The MAAL is making a difference.
Interim guidance on preparation of 2016 and 2017 unit trust distribution statements
23 June 2017We've updated our interim guidance on the application of subsection 104-71(4) table item 7 in determining the tax deferred and capital gains tax concession components of unit trust distributions.
Updates to PCG about fleet car fringe benefits
22 June 2017Updates to simplified approach for calculating fleet car fringe benefits have been made.
Practical compliance guidelines to facilitate compliance with Australian tax laws
19 June 2017Two Practical Compliance Guidelines relating to ADIs have been added to the legal database to facilitate compliance with relevant tax laws.
Register of Foreign Ownership of Water webinars in June
19 June 2017Learn more about the Register of Foreign Ownership of Water at a free ATO webinar covering the water entitlements and contractual water rights that need to be registered. The sessions will also cover who needs to register and when registration must be completed.
GST on imported services and digital products begins 1 July 2017
15 June 2017Find out what the law change means for you.
Top 1,000 Tax Performance Program
15 June 2017Obtaining greater assurance across the Top 1,000 multinational and public companies.
Local File – lodgment concession
15 June 2017A lodgment concession is available for December 2016 balancers who choose to take up the local file administrative solution.
Guidance on the diverted profits tax coming soon
14 June 2017Guidance materials including a Law Companion Guide (LCG) and a Law Administration Practice Statement (PSLA) will soon be available to assist your understanding of the new diverted profits tax measure which comes into effect on 1 July 2017.
Join our webinar on GST and property transactions
13 June 2017We are holding a free webinar on Monday 26 June focusing on GST and property transactions - joint venture and partnership.
Update to Reportable Tax Position schedule
13 June 2017The reportable tax position schedule is a schedule to the company tax return that requires disclosure of certain contestable and material tax positions.
Release of 2017 International dealings schedule and instructions
13 June 2017The 2017 International dealings schedule (IDS) and their instructions have been released.
Improving our private advice
13 June 2017We are making changes to improve our advice and guidance services, including a new streamlined private ruling application form.
Reminder - Increased penalties apply to SGEs from 1 July
9 June 2017All Significant Global Entities (SGEs), including Australian SGEs, should ensure they are prepared for their increased reporting obligations. Penalties for SGEs will be significantly increased to encourage reasonable care when making statements, taking positions which are reasonably arguable and timely lodgment of tax forms.
New Petroleum and Resource Rent Tax content available
6 June 2017We've published a PRRT updates page on our website to provide clarification around PRRT returns.
Common Reporting Standard
5 June 2017The Common Reporting Standard (CRS) is the standard for the collection, reporting and exchange of financial account information, developed by the OECD.
Businesses invited to attend Black Economy Industry Roundtable sessions
29 May 2017The Chair of the Black Economy Taskforce is holding meetings around Australia
throughout May and June to discuss the black economy. Register to attend and find out more.
Changes to foreign resident capital gains withholding payments (FRCGW)
29 May 2017Change to the threshold and withholding rate for FRCGW.
Latest news on tax law and policy
18 May 2017Proposed changes from the governments recently handed down the 2017–18 Budget on 9 May 2017 are now available on our new legislation page.
Public rulings refreshed to provide a more contemporary approach
17 May 2017The ATO is refreshing our public rulings to ensure they are up to date and reflect modern business practices.
Amendments to Innovation measures
17 May 2017Investments through trusts are being made eligible for capital gains concessions.
Open for consultation: Cross-border related party financing arrangements
16 May 2017We're seeking your feedback on our draft practical compliance guidelines on cross border related party financing arrangements.
Simplified GST registration system for overseas businesses
16 May 2017GST on international sales of services and digital products is coming. Find out how to prepare.
Strengthening Transfer Pricing Rules
12 May 2017Australia's transfer pricing rules have been amended to refer to the latest OECD guidelines.
Stamping out illegal tobacco
20 April 2017We are continuing to remove illegal tobacco from Australia.
Country-by-Country (CbC) reporting: local file - master file detailed design now available
12 April 2017Additional guidance is now available to help you understand the detailed information requirements of the local file and master file for Country-by-Country (CbC) reporting.
Diverted profits tax begins 1 July 2017
11 April 2017The diverted
profits tax aims to ensure the tax paid by significant global entities
properly reflects the economic substance of their activities in
Australia and prevent the diversion of profits offshore through
contrived arrangements.
FBT return instructions and forms for 2017
11 April 2017From
2017 onwards, FBT return instructions will only be available online.
Significant global entity page now available
11 April 2017A page dedicated to SGEs has been published and is now live. SGEs can access this page to find information that may be relevant to them.
Tax assistance following natural disasters
10 April 2017The ATO has
implemented a range of support measures to assist businesses affected by
Tropical Cyclone Debbie and subsequent flooding.
Further consultation - tax incentives for early stage investors
10 April 2017We're seeking your feedback on additional material relating to tax incentives for early stage investors.
GST on low value imported goods
16 March 2017Changes to GST to include imported goods valued at A$1,000 or less are planned to take effect from 1 July 2017. Learn about how this may impact you and provide feedback on the proposed changes.
Significant Global Entities - Increased Penalties
15 March 2017From July 1 there will be increased penalties on companies with global revenue of $1 billion or more who fail to adhere to tax lodgment obligations.
Country-by-Country (CbC) reporting: additional guidance now available
14 March 2017Additional guidance is now available to help you understand your CbC reporting obligations in Part B of the local file.
Join our webinar to learn how to lodge your FBT return
13 March 2017Find out how to lodge Fringe benefits tax returns at our webinar on 28 March 2017.
GST property tool
13 March 2017The GST property tool can help you work out the GST implications for property transactions you make.
Contemporary approaches to public advice and guidance
13 March 2017We are revolutionising how we produce, communicate and deliver our public advice and guidance.
Consultation - tax incentives for early stage investors
13 March 2017We are seeking your feedback on documents relating to tax incentives for early stage (angel) investors, from 13 March to 10 April 2017.
Exploration expenditure deductions – ruling and practical compliance guideline
2 March 2017Exploration expenditure deductions – ruling and practical compliance guideline are available to assist taxpayers determine the deductibility of expenditure on mining and petroleum exploration and prospecting.
Simplified transfer pricing record keeping options practical compliance guideline
28 February 2017Simplified transfer pricing record keeping options practical compliance guideline is available to assist eligible taxpayers minimise the record-keeping process.
Tax risk management and governance review guide
24 February 2017In January 2017 we published an update to the Tax risk management and governance review guide.
Taxpayer Alert - Re-characterisation of income from trading businesses
13 February 2017The Re-characterisation of income from trading businesses taxpayer alert has been released.
Attention Firefox AUSkey users
10 February 2017The upcoming version of Mozilla Firefox (version 52) does not support AUSkey. To continue using AUSkey, users will need to download the Firefox browser extension or use an alternative browser.
Multinationals: get in contact by 31 March 2017
10 February 2017Multinational Anti-avoidance Law may apply to ‘significant global entities’.
Fuel tax credit changes: do you have the right rate?
10 February 2017Keep up to date on fuel tax credit rates as they change regularly.
Our fight against tax crime
10 February 2017Latest serious tax crime investigation results have been released.
More illegal tobacco gets the chop
1 February 2017Illegal tobacco with a potential excise value of $1.5 million has been seized by the Australian Taxation Office (ATO) following a warrant executed as part of an ongoing investigation in Victoria.
International dealings schedule consultation report now available
20 January 2017The International dealings schedule (IDS) consultation report is now available online.
Practical compliance guidelines for offshore hubs
18 January 2017Practical compliance guideline for offshore hubs has been published.
Credit and debit card and online selling data matching
18 January 2017We are collecting new data from financial institutions and online selling sites as part of our credit and debit cards and online selling data-matching programs.
Do you import or export goods and services?
22 December 2016If you have an import or export business read our tips to see how you can avoid making errors on your business activity statement.
2014–15 Report of entity tax information
9 December 2016Information on the release of the 2014–15 Report of entity tax information.
Have your say about public advice and guidance
7 December 2016We're improving our public advice and guidance – let us know what you think.
Getting GST right on your property development from the start
7 December 2016If you buy, sell, lease or develop property you will need to be registered for GST if your turnover is above the GST registration threshold.
Have your say – OECD large business survey on tax certainty
3 December 2016This survey will assist the OECD’s work on solutions to support certainty in the tax system, a project mandated by the G20 aiming to promote investment, trade and balanced growth.
Open for consultation: draft GST guidance on home care and residential care
3 December 2016Feedback wanted for draft GST guidance on home and residential care.
Selling your property soon? Apply for a clearance certificate ASAP
2 December 2016Australian residents selling properties over $2 million should apply for a clearance certificate ASAP to avoid settlement delays due to the ATO's Christmas closure.
Transitional rules: GST on imported services and digital products
25 November 2016Overseas businesses may be subject to the transitional rule for GST when supplying services or digital products to consumers in Australia before 1 July 2017.
Taxpayer Alert – contrived trust arrangements
21 November 2016We have released a Taxpayer Alert outlining our concerns about trust arrangements that minimise tax through creating artificial differences between the distributable income and net taxable income of a trust in exploiting the proportionate approach to trust taxation.
Open for consultation: Exploration expenditure deductions draft practical compliance guideline
16 November 2016We are seeking feedback on our draft practical compliance guideline on exploration expenditure deductions.
AUSkey now compatible with Google Chrome
14 November 2016A Google Chrome browser extension is now available for Windows and Mac users.
Purposeful First Action
14 November 2016Purposeful First Action outlines our focus on improving the timeliness and outcomes of our first interactions with taxpayers once they are in debt.
ATO Annual Report 2015–16 released
14 November 2016We've just released our Annual Report for 2015–16! We've worked hard with you over the last year to improve your experience. Read about what we've delivered.
Key taxpayer engagement approach is coming soon
9 November 2016The key taxpayer engagement approach will roll out to 130 largest public businesses, currently described as higher consequence for income tax, GST or excise.
Simplified approach for car fringe benefits
9 November 2016This article outlines the safe harbour for car fringe benefits for working out business use percentages for fleets of 20 cars or more.
Changes to GST for overseas business transactions
4 November 2016Certain transactions between overseas businesses and Australian businesses are no longer subject to GST.
Country by Country (CbC) reporting: Exemption Guidance now available
18 October 2016Additional guidance is now available to help you understand the process when applying for an exemption from CbC reporting obligations.
Objecting to the determination of a car parking fringe benefit
17 October 2016A new supporting document requirements list is now available to help you prepare an objection to the determination of a car parking fringe benefit.
GST and the margin scheme webinar – 26 October 2016
14 October 2016You are invited to attend our free webinar on GST and the margin scheme on 26 October 2016.
Streamlining Private Ruling Applications
14 October 2016The streamlining private ruling application will assist skilled taxpayers and advisors to provide drafts of their own ruling with guidance and support from the ATO.
Early engagement for private advice
4 October 2016Early engagement advice services are now available for all business types and will allow all businesses to seek early advice on tax and super transactions.
Have your say on the ATO's proposed changes to penalties
20 September 2016The Australian Tax Office wants to hear your views on the ATO Penalty consultation paper, 'Proposed changes to penalties for small business and individuals'.
Updates to fuel tax credits for heavy vehicles
16 September 2016We are providing guidance on your entitlement to fuel tax credits for fuel used in heavy vehicles for idling, air conditioning and on public roads.
Taxpayer Alert – Restructures in response to the Multinational Anti-Avoidance Law involving foreign partnerships
15 September 2016Some multinationals may be restructuring through the formation of a foreign partnership to avoid the Multinational Anti-Avoidance Law (MAAL).
Taxpayer Alert – Cross-border round robin financing arrangements
15 September 2016Some Australian entities may be organising arrangements where funds are provided to an overseas entity before being returned to the Australian entity.
Reminder: Exploration Development Incentive closes 30 September
1 September 2016You have until 30 September to notify us if you intend to participate in the Exploration Development Incentive by completing the EDI Participation form.
Tailored online experiences – making every year count
29 August 2016The ATO corporate plan sets out our purpose, operating environment, risks, capability and planned performance over a four-year period.
Correction: Provision of general purpose financial statements consultation paper
26 August 2016On 15 August, we published a consultation paper on the provision of general purpose financial statements by significant global entities. It has been updated, due to errors with the original consultation paper.
Making it easier to manage debt
26 August 2016The ATO is making it easier for taxpayers to pay on time or manage any debt that arises.
Voluntary tax transparency code is now available
23 August 2016The tax transparency code is a set of principles and minimum standards to guide medium and large businesses on public disclosure of tax information.
Open for consultation: Provision of general purpose financial statements
15 August 2016We are seeking feedback on the proposed administrative arrangements for the provision of general purpose financial statements by significant global entities.
Taxpayer Alert – thin capitalisation
10 August 2016Some taxpayers may be excluding the value of a debt interest that is classified as equity for accounting purposes in the determination of their debt capital.
Taxpayer Alert – offshore permanent establishments
10 August 2016Arrangements where income is attributed to an offshore permanent establishment of a subsidiary of an Australian income tax consolidated group, which has entered into intra-group transactions.
Taxpayer Alert – GST and Multinational Anti-Avoidance Law
10 August 2016GST implications of arrangements entered into in response to the Multinational Anti-Avoidance Law (MAAL).
Open for consultation: Offshore hubs draft practical compliance guideline
10 August 2016We are seeking feedback on our draft practical compliance guideline for offshore hubs.
New Land Register for foreign investors from 1 July 2016
3 August 2016From 1 July 2016, the Land Register is now being used to register both agricultural land and residential property purchases made by foreign investors
New depreciation tool to save you time
3 August 2016The Depreciation and capital allowances tool is a quick and easy way to ensure the depreciation details in your tax return are correct.
Get smart, get Super Scheme Smart
27 July 2016Our information pack, case studies and videos will help you get smart, get Super Scheme Smart about retirement planning schemes of concern to us.
BAS lodgment and payment for property developers
19 July 2016Property developers still need to lodge and pay their BAS on time. If you can't pay your GST, contact us to negotiate payment options.
Changes to GST obligations for overseas businesses
12 July 2016Certain transactions between overseas businesses and Australian businesses will no longer be subject to GST from 1 October 2016.
Year two of the Exploration Development Incentive is now open for participation
7 July 2016If you wish to participate in year two of the Exploration Development Incentive (EDI), you need to notify us by completing the EDI Participation form by 30 September 2016.
Local file – high level design now available for Country-by-Country reporting
7 July 2016The high level design of the Local File is now available to help you understand your new reporting requirements for Country-by-Country reporting.
Fuel tax credit rates change from 1 July 2016
7 July 2016From 1 July 2016 the fuel tax credit rate for heavy vehicles was increased to 13.6 cents per litre.
Changes to CGT treatment for certain earnout rights
28 June 2016New look-through CGT treatment applies to certain earnout rights created on or after 24 April 2015.
Applying the margin scheme to a property sale
28 June 2016You may be able to pay less GST on the sale of a property by applying the margin scheme.
GST on intangibles commencing July 2017
10 June 2016A new law applying GST to international sales of services and digital products will apply in Australia from 1 July 2017.
If you are selling property over $2 million – New rules apply
10 June 2016New rules will soon apply to sales of Australian real property with a market value of $2 million or above. Australian residents will need to obtain a clearance certificate from the ATO prior to settlement to avoid the 10% non-final withholding tax. Foreign resident vendors may apply for a variation to the 10% withholding tax prior to the sale of property.
Penalties for breaching foreign investment rules
9 June 2016Penalties apply to breaches of Australia’s foreign investment rules. If you deliberately avoid your obligations, you could be risking an infringement notice, criminal prosecution or civil penalty orders.
Asset deductions for primary producers
9 June 2016We’re reminding all primary producers you can accelerate the depreciation of water facilities, fencing and fodder storage assets.
Interim guidance on preparation of 2016 unit trust distribution statements
8 June 2016We have released interim guidance on the application of subsection 104-71(4) table item 7 in determining the tax deferred and capital gains tax concession components of unit trust distributions.
New innovation incentives for investors
2 June 2016New tax incentives and concessions are available from 1 July 2016 for investors in early stage venture capital limited partnerships.
New tax governance guide for privately owned groups
31 May 2016The new tax governance guide for privately owned groups provides guidance and examples on effective tax governance for common business events.
New tax system for Managed Investment Trusts
18 May 2016Managed Investment Trusts (MITs) have access to a new tax system which modernises the tax rules for eligible MITs and increases certainty for investors.
The Common Reporting Standard (CRS) to be implemented from 2017
18 May 2016The Common Reporting Standard (CRS) requires banks and other financial institutions to report to the ATO information about accounts held by foreign tax residents.
Creating a level playing field for property developers
12 May 2016Are you doing the right thing with lodging your business activity statements and paying GST liabilities?
Taxpayer Alert – Thin capitalisation and inappropriate recognition and revaluation of internally generated intangible assets
26 April 2016International profit shifting arrangements are attracting our attention.
Taxpayer Alert – Related party foreign currency denominated finance with related party cross-country interest rate swaps
26 April 2016Related party cross-country interest rate swap agreements are attracting our attention.
Taxpayer Alert – Cross-border leasing arrangements involving mobile assets
26 April 2016Various cross-border leasing arrangements involving mobile assets (such as vessels) are attracting our attention.
Taxpayer Alert – Arrangements in response to the Multinational Anti-Avoidance Law (MAAL)
26 April 2016There are tax risks associated with some arrangements that have been put in place in response to the new Multinational Anti-Avoidance Law (MAAL).
Corporate tax transparency report for 2013–14 – Australian-owned resident private companies
23 March 2016As a result of amendments to corporate tax transparency laws, the ATO has published the tax information of over 300 Australian-owned resident private companies.
New rules for foreign residents selling property
15 March 2016New rules will soon apply to foreign residents selling taxable Australian property with a market value of $2 million or above.
Building confidence: Corporate tax avoidance update
26 February 2016Building confidence has been updated to reflect our continued focus on corporate tax avoidance.
GST and business to business cross-border changes – Law Companion Guideline
19 February 2016For non-resident suppliers, this Law Companion Guideline will help you understand how you may be impacted by proposed changes to the test for carrying on an enterprise in Australia
Findings from our 'Effective Tax Borne' pilot
9 February 2016We successfully completed a pilot with businesses to test and refine the effective tax borne methodology.
Foreign investment guide released
25 January 2016We've released a guide to assist foreign investors and their representatives understand recent changes to purchasing Australian property.
Reporting offshore to offshore supply of goods
21 January 2016We have released information to address any confusion surrounding the reporting of offshore to offshore supplies of goods in your activity statement.
Practical Compliance Guideline (PCG)
21 January 2016We have introduced three additional simplified record keeping options for eligible businesses subject to transfer pricing provisions.
Country-by-Country reporting – Law Companion Guideline is now available
18 January 2016Our Law Companion Guideline describes how we will implement the new Country-by-Country reporting requirements.
Business bulletins give you the latest legislative, corporate and administrative tax news and information of special interest for medium to large businesses and their advisors.