Business
- [201820] Expansion of the taxable payments reporting system [NEW]
- [201818] Draft property and construction web guidance [UPDATED]
- [201817] Simpler BAS user research [UPDATED]
- [201815] GST at settlement [UPDATED]
- [201806 Professional firms - Allocation of profit guidelines and Everett Assignment web material
- [201769] Major bank levy (MBL)
- [201615] Single Touch Payroll [UPDATED]
[201820] Expansion of the taxable payments reporting system
Registered: August 2018
Expected completion: August 2018
Status
The ATO has prepared a draft legislative instrument, and accompanying explanatory statement, that is based upon this draft legislationExternal Link released by Treasury for public consultation. These documents are available for comment via Let’s TalkExternal Link until 17 August 2018.
Purpose
To facilitate consultation between the ATO and the community as part of the process of developing advice on the application of the tax law.
Description
The draft legislative instrument has been developed to provide compliance cost relief for businesses where security, investigation, surveillance or IT services only make up a small part of their overall activities. This is consistent with the proposed reporting exemption for businesses supplying courier or cleaning services in the Treasury Laws Amendment (Black Economy Taskforce Measures No. 1) Bill 2018External Link, as well as the proposed reporting exemption for businesses supplying road freight services included in the draft legislation.
The ATO has also prepared draft guidance of how the ATO is considering applying the proposed draft legislation to businesses in the road freight, security, investigation, surveillance, and IT industries.
Who we are consulting
The consultation is open to all members of the community via Let’s TalkExternal Link.
Contact
Sharyn Cheetham, Law and Policy Design Director
tpar@ato.gov.au telephone (02) 6216 1037
[201818] Draft property and construction web guidance
Registered: July 2018
Expected completion: August 2018
Status
Draft web guidance is available on Let’s TalkExternal Link for comment. The due date for comment has been extended until Monday 16 August 2018.
Purpose
To seek feedback on draft web content that outlines real cases and decisions being made by the ATO in property developer cases.
Description
Draft web content has been developed to provide outlines of real cases and decisions being made by the ATO in property developer cases. The consultation paper is intended to provide a transparent view into the decisions we are making on fact driven cases where a more technical product is not suited.
Who we are consulting
We are consulting with broadly with the community via Let’s TalkExternal Link.
Contact
Keiron Galloway, Project Manager, Engagement and Assurance Services
keiron.galloway@ato.gov.au telephone (03) 6221 0488
[201817] Simpler BAS user research
Registered: July 2018
Expected completion: August 2018
Status
Research activity is currently in progress.
Purpose
The research aims to:
- capture qualitative insights into the benefits and effectiveness (time, cost and stress savings) of the Simpler BAS changes
- user test and shape external communication to raise awareness of digital bookkeeping changes.
Description
The Simpler BAS project team will conduct a final round of small business research sessions with end users of the Simpler BAS digital bookkeeping solutions.
Who we are consulting
The ATO is seeking feedback from small businesses with a GST turnover <$10 million that are using, or are eligible to use the Simpler BAS digital bookkeeping solution provided by Digital Service Providers.
Target participant groups for this research include:
- existing businesses using accounting software updated to Simpler BAS bookkeeping settings.
- small businesses using accounting software that have not updated to Simpler BAS bookkeeping settings
- new businesses using accounting software on the default Simpler BAS bookkeeping settings.
Contact
Richard Robinson, A/g Simpler BAS Project Director
richard.robinson@ato.gov.au telephone (07) 3213 5314
[201815] GST at settlement
Registered: July 2018
Expected completion: September 2018
Status
Consultation on the GST at settlement - a guide for purchasers and their representatives, and the GST at settlement - a guide for suppliers and their representatives is open via Let’s TalkExternal Link. The consultation is open until 13 September 2018.
Purpose
To seek feedback on draft web content that will be published to assist residential property or potential residential land purchasers meet any withholding obligations from 1 July 2018.
Description
From 1 July 2018, purchasers of new residential premises or potential residential land will be required to withhold an amount from the price for the supply and pay that amount to us on or before settlement.
The property transactions impacted are taxable supplies (for example, sales and supplies by way of long term lease) of new residential premises or taxable supplies of potential residential land where the contract is entered into before on or after 1 July 2018.
To provide certainty to purchasers, a supplier (vendor, seller, etc.) of residential premises or potential residential land must notify in writing whether a purchaser is required to withhold an amount. If the purchaser is required to withhold, the supplier must also notify the purchaser what that amount is and when it needs to be paid to us.
Who we are consulting
Feedback will be open to affected stakeholders through Let’s TalkExternal Link.
Contact
Jonathon Colman, Project Manager, GST at settlement
LetsTalkGSTSettlement@ato.gov.au telephone (02) 6216 6732
[201769] Major bank levy (MBL)
Registered: November 2017
Expected completion: August 2018
Status
Guidance on the end-to-end process of the MBL has been issued to affected MBL clients in the form of a frequently asked questions document. Consultation will remain open to continue to provide a forum for the affected MBL clients to raise any issues that may arise.
Purpose
To consult with key stakeholders to progress the implementation of the MBL.
Description
The MBL applies to authorised deposit-taking institutions (ADIs) with a total liability greater than $100 billion for a particular quarter. The affected ADIs have a lodgment/reporting obligation with both the Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office (ATO). The MBL is payable to the ATO. The general administration of the MBL is the responsibility of the Commissioner of Taxation.
Who we are consulting
- Australian Banking Association
- Australian Prudential Regulation Authority
- Treasury
Contact
James Campbell, Director, Public Groups and International
james.campbell@ato.gov.au telephone (02) 9374 8867
[201615] Single Touch Payroll
Registered: April 2016
Expected completion: July 2018
Status
The status of activity from each of the Single Touch Payroll (STP) consultation groups are available at:
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.
Who we are consulting
- Intermediaries
- software developers
- businesses
- industry representatives
- super funds and clearing houses
- employees.
Contact
John Shepherd, Assistant Commissioner Single Touch Payroll, Small Business
singletouchpayroll@ato.gov.au telephone: (02) 6216 6678
Matters we are consulting the community on, including their current status and purpose, who we are consulting, and when they are expected to be completed.