- [202402] User research – Enhancing communications for debt compliance
- [202401] Multinational Tax Integrity – strengthening Australia’s interest limitation (thin capitalisation) rules
- [202329] Capital raised for the purpose of funding franked distributions [UPDATED]
- [202323] Division 7A guidance within software
- [202322] Sharing Economy Reporting Regime Phase 2
- [202316] Increasing the payment frequency of superannuation guarantee
- [202314] Right time tax payments and reporting [UPDATED]
- [202313] Preventing errors and mistakes through small business software
- [202307] Implementation of a global minimum tax and domestic minimum tax
- [202305] Client agent linking
Registered | November 2023 |
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Expected completion of consultation | June 2024 |
Consultation status | Feedback received on the Consultation paper - Capital raised for the purpose of funding franked distributions, which closed on 16 February 2024, is being considered. |
Consultation purpose | To seek feedback on public advice and guidance needs for the new integrity measure addressing franked distributions funded by capital raisings. |
Description | A new integrity measure that prevents certain distributions funded by capital raising from being frankable was recently enacted through amendments contained in the Treasury Laws Amendment (2023 Measures No. 1) Act 2023.
The ATO is seeking feedback on whether there are priority issues where public advice and guidance is needed to help entities understand how the new law addressing franked distributions funded by capital raising applies to their circumstances.
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Who we are consulting |
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Consultation lead | Virginia Gogan, Public Groups |
Registered | October 2023 |
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Expected completion of consultation | March 2024 |
Consultation status | Feedback is being considered. |
Consultation purpose | To seek insights from digital service providers to inform the design of Division 7A guidance within software products. |
Description | Small business can use software to manage their business operations and tax and superannuation obligations. Division 7A is contained in the Income Tax Assessment Act 1936 and is a complex area of the tax law. Statistically, Division 7A represents a significant part of the tax gap and is an out of tolerance risk.
The ATO has observed a general lack of awareness and understanding of Division 7A by small businesses and their registered tax agents which contributes to this risk.
Digital service providers build software that supports business in maintaining daily operations while meeting tax and superannuation obligations.
Guidance prompts and nudges could be embedded within software products at different touchpoints during a typical Division 7A lifecycle. These prompts would seek to raise awareness of potential Division 7A risks and issues as they arise. Guidance would help small businesses and their registered tax agents take corrective action.
Consultation with digital service providers will ensure Division 7A guidance within software products is viable and adds value for clients whilst also achieving ATO objectives.
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Who we are consulting |
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Consultation lead | Michael Morton, Small Business |
Registered | August 2023 |
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Expected completion of consultation | August 2024 |
Consultation status | Targeted consultation is underway. |
Consultation purpose | To seek feedback regarding implementation of the next phase (Tranche 2) of the Sharing Economy Reporting Regime including:
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Description | Schedule 2 of the Treasury Laws Amendment (2022 Measures No. 2) Act 2022External Link requires operators of electronic distribution platforms (EDPs) to report information to the ATO on transactions relating to supplies made through the platform. This measure implements a recommendation of the report of the Black Economy Taskforce.
Under the measure, EDP operators are required to report transactions that occur on or after:
The first phase (Tranche 1) of consultation, [202230] Sharing Economy Reporting Regime, considered EDP reporting transactions related to a supply of taxi service (including ride-sourcing) or short term accommodation.
Consultation for Tranche 2 will include all other reportable transactions for all other industries. |
Who we are consulting |
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Consultation lead | Vanessa Kelly, Small Business Experience |
Registered | May 2023 |
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Expected completion of consultation | August 2024 |
Consultation status | Targeted consultation is underway. |
Consultation purpose | To understand the costs and benefits that ‘right time’ tax payments and reporting might have on small business. |
Description | Understanding the costs and benefits of ‘right time’ (reducing the time between taxable events, their reporting and any payment) tax payments and reporting is part of Improve small business tax performance and participation by collaborating with partners to build a digital first tax ecosystem, enabling seamless tax reporting from business source systems – one of the key focus areas in the ATO corporate plan 2023–24.
The ATO is exploring the cost and benefits of ‘right time’ (more regular) GST or pay-as-you-go withholding (PAYGW) reporting and/or payments, through the following pilots:
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Who we are consulting |
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Consultation lead | Michael Morton, Small Business |
Registered | May 2023 |
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Expected completion of consultation | June 2024 |
Consultation status | Targeted consultation is underway. |
Consultation purpose | To explore opportunities to prevent errors and mistakes through software that small businesses use. |
Description | Small business can use software to manage their business operations and tax obligations.
The ATO is currently exploring how messaging and prompts could be embedded into software to assist tax professionals and small businesses identify issues that may otherwise be overlooked or not properly understood and help them get their tax right prior to lodgment.
This will include:
This is part of the Improve small business tax performance initiative. The ATO is collaborating with partners to build a digital first tax ecosystem, enabling seamless tax reporting from business source systems – one of the key focus areas in the ATO corporate plan 2023–24. |
Who we are consulting |
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Consultation lead | Michael Morton, Small Business |
Registered | March 2023 |
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Expected completion of consultation | June 2024 |
Consultation status | Targeted consultation is underway. |
Consultation purpose | To seek feedback on administrative, compliance and systems impacts with the Implementation of a global minimum tax and a domestic minimum tax measure. |
Description | The Implementation of a global minimum tax and a domestic minimum tax measure was announced by the government in May 2023 in the Budget 2023–24 (PDF, 2.4MB)This link will download a file. The government will implement key aspects of Pillar Two of the OECD/G20 Two-Pillar Solution to address the tax challenges arising from digitalisation of the economy:
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Who we are consulting |
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Consultation lead | Adam Peel, International, Support and Programs |