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  • Intermediaries

    • [201811] Electronic sales suppression tool ban [NEW]
    • [201810] Goods and Services Tax: Foreign Currency (Customs Value of Low Value Goods) Determination 2018
    • [201809] Remaking legislative instrument – Goods and Services Tax: Foreign Currency Conversion Determination (No. 1) 2017
    • [201806] Professional firms – Allocation of profit guidelines and Everett Assignment web material [UPDATED]
    • [201802] Irritants in the ATO debt experience [UPDATED]
    • [201655] Improving digital services for tax practitioners [UPDATED]

    [201806] Professional firms – Allocation of profit guidelines and Everett Assignment web material

    Registered: February 2018

    Expected completion: June 2018

    Status

    The working group convened on 8 and 20 March 2018 where we continue to gain commercial insights from members as well as through submissions received directly from stakeholders via ProfessionalPdts@ato.gov.au.

    Some of the concerns identified to date include the following arrangements:

    • lack of any meaningful commercial purpose regarding arrangements such as:
      • disposal of an equity interest through multiple assignments
      • the creation of new discretionary entitlements such as Dividend Access Shares
      • utilising amortisation leading to differences between tax and accounting income
       
    • disregard for Capital Gains Tax (CGT) consequences and inappropriate use of CGT concessions
    • assignments where profit sharing is not directly proportionate to the equity interest held
    • the creation of artificial debt deductions
    • undertaking an assignment to dispose of an equity interest to a self-managed superannuation fund
    • assignments where the arrangement is not on all fours with the principles of Everett and Galland.

    We continue to review existing ATO guidance products with a view to issuing revised guidance.

    Purpose

    To review existing ATO guidance products with a view to issuing revised and updated guidance by 30 June 2018.

    Description

    When we published the 'Assessing the Risk: Allocation of profits within professional firms guidelines' and Everett Assignment web material in 2015 we stated they would be reviewed in 2017. In reviewing the guidelines we have become aware they are being misinterpreted in relation to arrangements that go beyond the scope of the guidelines.

    The ATO is consulting with interested stakeholders on replacement guidance.

    Who we are consulting

    • professional bodies, including representatives of tax and accounting professional associations
    • tax practitioners
    • ATO Open Forums.

    Contacts

    Simon Webster, Director, Professional Firms
    Simon.Webster2@ato.gov.au telephone (03) 9275 5328

    Chris Hill, Director
    Christopher.Hill@ato.gov.au telephone (03) 9275 4277

    [201802] Irritants in the ATO debt experience

    Registered: January 2018

    Expected completion: May 2018

    Status

    Tax Practitioners met with senior tax officers from the Debt business line on 1 February 2018 and discussed the debt experience from the client and tax practitioner perspective, seeking to identify opportunities for improvement that were not already being addressed by other ATO projects.

    Attendees at this workshop divided into groups to address key focus areas, and these groups met over February and March to discuss key actions to take their work forward.

    Tax Practitioners met with representatives from professional associations and senior ATO officers on 29 March 2018. Tax Practitioners provided an overview of progress in addressing irritants with debt collection processes. Key deliverables and outcomes being progressed by these working groups include:

    • an ATO webcastExternal Link on 18 April 2018 to discuss and demystify the ATO debt process
    • development of an ATO Debt Collection ‘infographic’ to demystify debt processes for agents and clients.
    • development of key messages around myths and misconceptions in regards to the treatment of debts.

    Working groups will continue to work together to refine deliverables and outcomes going forward.

    Key messages are available from the Professional Services Reference Group web page.

    Purpose

    To work through the ATO debt experience with tax professionals and key ATO stakeholders to understand and develop a shared solution for systemic irritants.

    Description

    Working together we will analyse the debt experience and processes for tax professionals and identify pain points as well as what is working well. For each of the pain points we will brainstorm the ‘problem’ in order to understand the underlying issues and work together to develop mutually beneficial solutions.

    Who we are consulting

    Members of the Professional Services Reference Group.

    Contact

    Sylvia Gallagher, Director - Intermediaries Experience, Intermediaries and Lodgment
    sylvia.gallagher@ato.gov.au telephone (02) 6216 6404

    [201655] Improving Digital Services for tax practitioners

    Registered: September 2016

    Expected completion: June 2018

    Status

    Beta testing of the new Online Services for agents continues with a diverse group of participants consisting of tax and BAS agents.

    We are extending the time for the initial beta period to ensure we can capture user feedback and action it where appropriate before making the service available to the broader agent community.

    We will continue to gradually increase the number of beta participants throughout the process to ensure we have a representative sample of tax and BAS agent participants.

    Purpose

    To co-design, plan and test products developed in the Improving Digital Services project through a range of integrated and innovative activities before communicating and releasing to the wider tax professional community.

    Description

    The Improving Digital Services project will transition services from the ATO Tax and BAS Agent Portals to a contemporary platform – ATO Online. Agents will have significantly improved services, including redesigned functionality and some enhancements directly from the ATO.

    Digital service providers will be able to include similar functionality in their software products if they choose, along with some additional functionality not available from the ATO.

    The ATO will co-design and consult on features as they are developed, including private and public beta testing

    Who we are consulting

    We are consulting with:

    Contact

    Sonia Corsini, Project Manager, Improved Digital Services, Intermediaries and Lodgement,
    sonia.corsini@ato.gov.au telephone: (08) 8208 1026

    Allan Gaskill, Change Manager, Improved Digital Services, Intermediaries and Lodgement,
    allan.gaskill@ato.gov.au telephone (03) 8343 7760

      Last modified: 04 May 2018QC 54486