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  • Private Groups Stewardship Group special briefing 31 March 2020

    ATO’s response to COVID-19

    Changing ATO work priorities due to COVID-19

    Tim Dyce – Deputy Commissioner, Private Wealth, ATO

    It was noted and discussed that:

    • giving effect to key Government announcements and initiatives to support the community in the current COVID-19 environment is a key ATO priority
    • the ATO is prioritising the provision of support, advice and guidance to individual taxpayers and the community
    • Private wealth taxpayers will be contacted and given the option to defer engagement and compliance activities currently underway where appropriate
    • all taxpayers are invited to reach out to us to discuss their particular circumstances, where appropriate, we are extending time periods and deferring lodgment and payment timeframes.

    Australian Government’s economic response to COVID-19

    Tim Dyce – Deputy Commissioner, Private Wealth, ATO
    Hoa Wood – Acting Deputy Commissioner, Superannuation and Employer Obligations, ATO
    Kasey Macfarlane – Assistant Commissioner, Private Wealth, ATO

    Key points discussed included:

    • how the already enacted measures apply to private wealth taxpayers
    • how private wealth taxpayers can get advice and support.

    Members noted the following:

    • There is a lot of interest and a desire to further understand the practical impacts and eligibility criteria for recently enacted stimulus measures as well as the very recently announced JobKeeper measure. In particular there is considerable interest in being able to access support and guidance in relation to 'annual aggregated turnover'.
    • Members highlighted the need to consider practical implications in implementing the new stimulus measures and are keen to be involved in any consultation activities and to provide feedback as required.

    Other business

    Tim Dyce – Deputy Commissioner, Private Wealth, ATO
    Hoa Wood – Acting Deputy Commissioner, Superannuation and Employer Obligations, ATO
    Jade Hawkins – Assistant Commissioner, Private Wealth, ATO

    Other topics discussed were:

    • superannuation guarantee amnesty legislation passed
    • decommissioning of AUSkey and the uptake of MyGovID and Relationship Authorisation Manager (RAM) noting that help and support is available to those who may not have transitioned yet
    • release of the High Wealth Private Groups tax performance and tax gap information.

    The following was noted in relation to previously announced legislative measures and ATO proposed guidance products:

    • The public hearing for the Research and Development Tax Incentive Bill has been deferred until further notice.
    • The ATO will advise members when more information is available about the status of the Division 7A legislative measures.
    • Guidance about Section 100A and Professional Service Firms income allocation guidelines is on hold while the ATO focusses on supporting taxpayers in the current COVID-19 environment. The ATO will advise members as soon as practicable about when these items will proceed.

    Wrap up and close

    Co-chairs Tim Dyce and Michael Dean thanked members for their attendance, contribution and patience.

      Last modified: 30 Apr 2020QC 62403