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  • Business

    [202012] Excise and excise equivalent goods web content

    Registered

    May 2020

    Expected completion of consultation

    June 2020

    Consultation status

    Targeted consultation with a small number of clients is being undertaken during June

    Consultation purpose

    To seek targeted feedback from alcohol excise clients about a sample of the new draft web content.

    Description

    The ATO is reviewing the current ‘Excise and excise equivalent goods’ web content, with the aim of improving the content to better meet user needs.

    Who we are consulting

    Businesses in the Alcohol manufacturing industry

    Consultation lead

    Melinda Colebrook, Marketing and Communication, ATO Corporate
    melinda.colebrook@ato.gov.au
    Phone (02) 9354 3672

    [202003] MEC Groups avoiding capital gains tax through asset transfers prior to disposal

    Registered

    January 2020

    Expected completion of consultation

    June 2020

    Consultation status

    Targeted consultation is being undertaken.

    Consultation purpose

    To seek feedback on the ATO's concerns relating to arrangements involving certain restructures involving MEC groups.

    Description

    The ATO is reviewing certain restructures involving MEC groups in anticipation of the sale of assets and considering applicability of the general anti-avoidance rules in Part IVA of the Income Tax Assessment Act 1936 to such arrangements.

    Who we are consulting

    Stakeholders who have relevant experience in the private sector and/or with the application of the general anti-avoidance rules

    Consultation lead

    Timothy McCarthy, International Risk Manager, Public Groups and International
    timothy.mccarthy@ato.gov.au
    Phone (02) 9685 8505

    [201936] Online services for business

    Registered

    November 2019

    Expected completion of consultation

    December 2020

    Consultation status

    Co-design activities are being undertaken.

    Consultation purpose

    To understand the current experience for small business (including sole traders), SMSF approved auditors, not-for-profits, medium and large business, superannuation funds and insolvency practitioners who use the Business Portal, to help inform the future design of online services for business.

    Description

    The ATO is exploring the user experience to identify opportunities to improve the future design of online services for business.

    Who we are consulting

    • Small business (including sole traders)
    • SMSF auditors
    • Insolvency practitioners
    • Not-for-profits
    • Medium business
    • Large business
    • Superannuation funds 

     

    Consultation lead

    Kim Dimmick, Client Engagement Director, Small Business
    kim.dimmick@ato.gov.au
    Phone (07) 3213 5439

    [201931] Strengthening the ABN system

    Registered

    October 2019

    Expected completion of consultation

    June 2021

    Consultation status

    The ATO has engaged in joint consultation sessions with Treasury and will further engage with stakeholders to co-design administrative solutions for the two new conditions.

    Consultation purpose

    To work in partnership with key stakeholders to explore and co-design solutions for the administrative approach to strengthening the Australian business number (ABN) system to disrupt black economy behaviour.

    Description

    In the 2019–20 Federal Budget, the government announced that it will strengthen the ABN system to disrupt black economy behaviour by requiring ABN holders:

    • from 1 July 2021, with an income tax return obligation, to lodge their income tax return
    • from 1 July 2022, to confirm the accuracy of their details on the Australian Business Register annually.

    The new conditions will make ABN holders more accountable for meeting their government obligations, while minimising the regulatory impact on businesses doing the right thing.

    Who we are consulting

    Including but not limited to:

    • ABN holders
    • Intermediaries, including digital service providers and small businesses
    • Industry groups 

     

    Consultation lead

    Nicola Black, Director, Commonwealth Business Registry Service
    nicola.black@ato.gov.au
    Phone (08) 7422 2620 

    Simon Lovering, Commonwealth Business Registry Service
    simon.lovering@ato.gov.au
    Phone (08) 8208 3016

    [201927] Guidance on compensation payments made by financial institutions

    Registered

    October 2019

    Expected completion of consultation

    June 2020

    Consultation status

    Further feedback is being sought.

    Consultation purpose

    To discuss scenarios where uncertainty of the GST and income tax consequences of compensation payments has been identified.

    Description

    There are multiple taxation consequences for the payment of compensation that arise from the behaviours identified in the Banking Royal Commission. 

    We are currently considering developing high-level guidance for publication on ato.gov.au for payers of the compensation, which may include withholding and reporting obligations. This guidance will complement the guidance that has been published for Super funds and Individuals who are recipients of the remediation payments.

    Who we are consulting

    Financial institutions

    Consultation lead

    Katherine Leung, Client Engagement Director, Public Groups and International
    katherine.leung@ato.gov.au
    Phone (02) 9374 2400

    [201923] Disclosure of business tax debts

    Registered

    August 2019

    Expected completion of consultation

    September 2020

    Consultation status

    Feedback on the consultation paper on the ATO’s administrative approach to the disclosure of business tax debt information to credit reporting bureaus closed 6 September 2019. 

    Further targeted consultation is currently taking place with community representatives and the Inspector-General of Taxation and Taxation Ombudsman. 

    The ATO is taking all feedback into consideration while progressing through the design process.

    Consultation purpose

    To seek comment on the ATO’s administrative approach to the disclosure of business tax debt information to credit reporting bureaus.

    Description

    In the 2016–17 Mid-Year Economic and Fiscal Outlook, the government announced its intention to allow the ATO to report to credit reporting bureaus (CRBs), the tax debt information of entities that consistently do not engage with the ATO to manage those tax debts. 

    The purpose of allowing the ATO to report an entity’s tax debt information to CRBs is to:

    • support more informed decision making within the business community
    • reduce the unfair advantage obtained by entities that do not pay their tax on time and who do not engage with the ATO in managing their tax debts
    • encourage entities to engage with the ATO to manage their tax debts.

    Under the ATO’s phased implementation approach, the measure will be implemented gradually to ensure systems, safeguards and process are robust. 

    As part of the gradual implementation, the initial phase will focus on raising community awareness of the measure and its implications. Initially, only companies that meet defined criteria and who have significant high risk tax debts will be reported. Gradually, implementation will be expanded to other entity types such as partnerships, trusts and sole traders. The measure does not apply to individuals who do not have an Australian business number (ABN). 

    See Advice under development - [3994] Disclosure of business tax debts.

    Who we are consulting

    • Community
    • Businesses
    • Inspector-General of Taxation and Taxation Ombudsman 

     

    Consultation lead

    Tara Mclachlan, Director, Operational Policy, Assurance and Law
    taxdebttransparency@ato.gov.au
    Phone (07) 3149 5339

    [201921] Extension of the Reportable Tax Position Schedule to large private companies and corporate groups

    Registered

    July 2019

    Expected completion of consultation

    June 2020

    Consultation status

    The ATO is now expanding the requirement to lodge an RTP schedule to large private companies and is seeking feedback on proposed four additional Category C questions contained in the consultation paper which closes for comment on 15 June 2020.

    Consultation purpose

    To seek feedback and comments about the implementation of Reportable Tax Position Schedule for large private companies and large private corporate groups in the 2021 income year.

    Description

    Currently all large public and multinational companies are required to complete and lodge an RTP Schedule disclosing their most contestable and material tax positions. 

    The requirement to lodge an RTP Schedule will be extended to include large private companies and large private corporate groups in the 2021 income year. 

    It is envisaged that the expansion of the RTP Scheduled to large private companies and corporate groups will provide a level playing field among large corporate groups by ensuring all large businesses have the same obligation to disclose their most contestable and material tax positions, irrespective of whether they are a public or private business. 

    The extension of the RTP Schedule to large private companies and corporate groups will support the ATO's engagement with large market taxpayers and allow us to identify areas where we need to provide further clarification/certainty on the correct treatment of transactions and complex high risk tax arrangements.

    Who we are consulting

     

    Consultation lead

    Michael Drogaris, Project Manager, Private Wealth
    michael.drogaris@ato.gov.au
    Phone (02) 9374 2323

    [201615] Single Touch Payroll

    Registered

    April 2016

    Expected completion of consultation

    July 2020

    Consultation status

    The status of activity from each of the Single Touch Payroll (STP) consultation groups is available at:

    The ATO will continue to engage and work with industry members in targeted consultation groups and consult with broader stakeholder groups, such as digital service providers, employers and agents.

    Consultation purpose

    To:

    • raise awareness of Single Touch Payroll across industry
    • ensure we engage with a broad cross section of industry, including software developers, solution providers, associations and businesses
    • work in partnership with industry for them to help shape and influence design
    • use industry expertise and experiences as we progress the implementation of STP. 

     

    Description

    Schedule 23 of the Budget Savings (Omnibus) Act 2016External Link contains Single Touch Payroll reporting which means:

    • employers with 20 or more employees are required to report through Single Touch Payroll-enabled software
    • the following information must be reported on or before the day you withhold from a payment (the pay day)        
      • payment information, including salary or wages, allowances, deductions, etc
      • withholding amounts
      • superannuation liability information or ordinary times earnings (OTE)
       
    • employers who fully report all the information required through Single Touch Payroll will not have to comply with a number of other reporting obligations under the existing law. This includes providing certain payment summaries and the corresponding payment summary annual report (PSAR). They will need to provide a finalisation declaration to the ATO.
    • there is no requirement to pay PAYG withholding at the time of reporting, however an employer may make voluntary payments if they choose. 

    The Treasury Laws Amendment (2018 Measures No. 4) Bill 2018External Link, extending STP to small and micro businesses was passed by the House of Representatives on Tuesday 12 February 2019. The law change came into effect on 1 March 2019. 

    In addition, further design elements of Single Touch Payroll and initial guidance for Phase 2 of the program are continuing through consultation with key industry working groups.

    Who we are consulting

    • Intermediaries
    • Software developers
    • Businesses
    • Industry representatives
    • Super funds and clearing houses
    • Employees 

     

    Consultation lead

    Jason Lucchese, Assistant Commissioner Single Touch Payroll, Superannuation and Employer Obligations
    singletouchpayroll@ato.gov.au
    Phone (02) 6216 2471

      Last modified: 29 May 2020QC 54486