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    [202213] Advance pricing arrangements program review

    Registered

    April 2022

    Expected completion of consultation

    December 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To seek feedback on the advance pricing arrangement (APA) program.

    Description

    We will be undertaking a review of the APA Program in 2022, with a primary focus on:

     

    • whether the APA product continues provide the right service for all taxpayers
    • assuring transfer pricing risk in the most efficient manner possible.

     

    Who we are consulting

    • Taxpayers
    • Tax advisory firms
    • Tax industry associations
    • Other APA program participants

     

    Consultation lead

    Simon Hellmers, Assistant Commissioner, Public Groups and International
    simon.hellmers@ato.gov.au
    Phone (02) 9374 2887

    [202212] Automatic Exchange of Information guide and toolkit for Reporting Financial Institutions

    Registered

    April 2022

    Expected completion of consultation

    May 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To seek input and insights on a proposed Automatic Exchange of Information (AEOI) self-review guide and toolkit for Reporting Financial Institutions.

    Description

    The guide will assist and support Reporting Financial Institutions to self-review their internal control framework to ensure they meet AEOI compliance obligations, which cover Common Reporting Standard and Foreign Account Tax Compliance Act obligations.

     

    It will include practical guidance for self-review of core elements:

    • AEOI governance
    • due diligence
    • reporting systems
    • data testing.

     

    Who we are consulting

    • Tax practitioners
    • Financial institutions

     

    Consultation lead

    Jaydon Beatty, Public Groups and International
    jaydon.beatty@ato.gov.au
    Phone (02) 6216 4158

    [202211] Deduction for entering into a conservation covenant

    Registered

    April 2022

    Expected completion of consultation

    June 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To seek feedback on:

    • the ATO’s preliminary position regarding deductibility, under Division 31, when a conservation covenant is entered into to satisfy environmental approvals for a mining project
    • whether public advice and guidance is required and the type of guidance.

     

    Description

    Division 31 of the Income Tax Assessment Act 1997 provides for a deduction for the decrease in the market value of land when a perpetual conservation covenant over your land is entered into provided certain conditions are satisfied.

     

    Deductions for the decrease in the market value of the land must be based on a valuation obtained from the ATO.

     

    Valuation requests from taxpayers, in the energy and resources sector, have raised questions about whether taxpayers entering a conservation covenant, to meet environmental approval conditions for mining projects, receive material benefits which would disqualify them from receiving a deduction.

    Who we are consulting

     

    Consultation lead

    John Churchill, Office of the Chief Tax Counsel
    john.churchill2@ato.gov.au
    Phone (03) 6221 0258

    [202210] eInvoicing communications

    Registered

    April 2022

    Expected completion of consultation

    December 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To seek insights from eInvoicing users and their intermediaries to inform future messaging and engagement activities related to raising awareness and driving adoption of eInvoicing across Australia.

    Description

    The ATO is leading activities to raise awareness and drive adoption of eInvoicing in Australia. This includes working with businesses, intermediaries, service providers, and all levels of government to understand their current invoicing processes and support them in adopting eInvoicing to realise the economic benefits of eInvoicing.

     

    The ATO will:

    • seek to understand the current invoicing process for all stakeholders
    • establish current knowledge and awareness levels
    • develop supporting materials for various segments and validate their effectiveness.

     

    Who we are consulting

    • Small to medium enterprise businesses
    • Tax professionals
    • Digital service providers

     

    Consultation lead

    Patrick Brophy, Enterprise Solutions and Technology
    patrick.brophy@ato.gov.au
    Phone (02) 6216 1940

    [202209] Undisputed tax debt data reporting

    Registered

    March 2022

    Expected completion of consultation

    June 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To seek feedback on ATO reporting of undisputed tax debt data.

    Description

    The Inspector-General of Taxation and Taxation Ombudsman (IGOT) published the Investigation and Exploration of Undisputed Tax Debts in AustraliaExternal Link report on 30 June 2021.

     

    The ATO is engaging with external stakeholders in reference to IGOT proposed Recommendations 1, 2 and 3 of the report. These recommendations include exploring enhanced debt data reporting with key external stakeholders and identifying reporting frequency and method in which the data will be reported to the Parliament of Australia.

    Who we are consulting

     

    Consultation lead

    Thomas Kaplan, Lodge and Pay
    thomas.kaplan@ato.gov.au
    Phone (07) 3149 5029

    [202208] Digital inbox for business

    Registered

    March 2022

    Expected completion of consultation

    June 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To seek insights from users to inform the design and build of the digital inbox for business and home page.

    Description

    The ATO is developing a single digital inbox for registered companies to receive government correspondence as part of the $480 million business registers overhaul.

     

    The ATO will explore:

    • the current experience of clients in managing ATO and Australian Business Registry Services mail
    • the functionality and usability of the home page, onboarding, and inbox
    • client notification preferences.

     

    Who we are consulting

    Directors and authorised delegates of large organisations and complex entities

    Consultation lead

    Julie Ustinoff, Enterprise Strategy and Design
    julie.ustinoff@ato.gov.au
    Phone (07) 3907 2022

    [202206] GST offsetting between unrelated entities

    Registered

    March 2022

    Expected completion of consultation

    June 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To seek feedback on the Commissioner's discretionary power to allow the refund/credit of one entity to be offset against the GST/net amount payable of an unrelated entity.

    Description

    We are reviewing the examples in paragraph 5 of the Law Administration Practice Statement PS LA 2011/21 Offsetting of refunds and credits against taxation and other debts, which outlines circumstances where the Commissioner of Taxation will use their discretionary power to offset the refund/credit of one entity against the GST/net amount payable of an unrelated entity.

     

    Examples support our decision making for the application of this discretion, and give guidance and clarity to taxpayers so they can self-assess whether requesting an exercise of this discretion is appropriate.

    Who we are consulting

    Tax advisory firms

    Consultation lead

    Melissa Lock, Small Business
    melissa.lock@ato.gov.au
    Phone (08) 8228 4983

    [202205] Corporate Collective Investment Vehicle

    Registered

    March 2022

    Expected completion of consultation

    September 2022

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To work with industry in identifying, prioritising, and addressing administrative and interpretative issues that require support to implement the new Corporate Collective Investment Vehicle (CCIV) measure.

    Description

    In the 2021–22 federal Budget, the Australian Government announced that it will progress the tax and regulatory framework for the CCIV with a commencement date of 1 July 2022.

     

    The new legislation aligns the tax framework for the CCIV regime with the tax regime for attribution managed investment trusts (AMITs). CCIVs will be required to meet similar eligibility criteria as managed investment trusts (MITs). This includes being widely held and engaging primarily in passive investment activities. CCIVs that are not eligible for AMIT tax treatment will be subject to the ordinary trust taxation rules in Division 6 or trading trust rules in Division 6C, as applicable, of the Income Tax Assessment Act 1936.

     

    As a CCIV is a new corporate entity, deemed to be a trust for tax purposes, there are a range of administrative considerations and tax interaction issues to resolve to ensure implementation by 1 July 2022; for example, registration, eligibility, distributions, reporting.

    Who we are consulting

    • Advisers with significant managed fund experience
    • Representatives from industry associations, including    
      • Financial Services Council
      • Property Council of Australia
      • Law Council of Australia
      • Australian Custodial Services Association

     

    Consultation lead

    Blake Sly, Public Groups and International
    blake.sly@ato.gov.au
    Phone (02) 4923 1814

    [202203] Build-to-rent

    Registered

    February 2022

    Expected completion of consultation

    March 2023

    Consultation status

    Targeted consultation is underway.

    Consultation purpose

    To explore the emerging models of Build-to-rent developments in Australia to understand the opportunities to support the industry with their tax obligations.

    Description

    Build-to-rent is forecast to take off over the next 5 years.

     

    We are seeing growing interest from industry and government with incentives and concessions for Build-to-rent developments increasing.

    Who we are consulting

     

    Consultation lead

    Loretta Bishop-Spalding, Private Wealth
    loretta.bishop-spalding@ato.gov.au
    Phone (08) 7422 2536

    [202151] Sharing Economy Reporting Regime

    Registered

    November 2021

    Expected completion of consultation

    July 2022

    Consultation status

    Consultation is on hold during caretaker mode to ensure that actions do not bind an incoming government and limit its freedom of action. Refer to Guidance on Caretaker Conventions 2021 (PDF 412KB)This link will download a file.

    Consultation purpose

    To seek feedback on administrative issues relating to implementation of the proposed Sharing Economy Reporting Regime measure including:

    • public advice and guidance
    • reporting requirements (data and lodgment).

     

    Description

    The Treasury Laws Amendment (2021 Measures No. 7) Bill 2021External Link will require electronic distribution platform (EDP) operators to provide 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 proposed measure, EDP operators will be required to report transactions that occur on or after:

    • 1 July 2022 if it relates to a supply of taxi services or short-term accommodation, and
    • 1 July 2023 for all other reportable transactions.

     

    Who we are consulting

    • Entities operating electronic distribution platforms
    • Tech Council of Australia
    • Tax professional associations

     

    Consultation lead

    Virginia LoPilato, Small Business
    virginia.lopilato@ato.gov.au
    Phone (02) 6216 2759

      Last modified: 03 May 2022QC 54486