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  • Cash flow support and red tape reduction to help small business

    Treasury and the ATO will consult on the following measures to automate tax administration:

    • Aligning instalment payments with financial performance and Improved cash flows through an improved pay as you go instalment system.
    • Smarter reporting of taxable payments.
    • Digitalising trust income reporting.

    Consultation with the community, tax practitioners and digital service providers to finalise the policy scope, design and specification will take place over the coming months. Further information on the consultation process will be provided shortly.

    Subject to completion of consultation and advice from software providers about their capacity to deliver, the measures are proposed to apply from 1 January 2024 for Aligning instalment payments with financial performance and Improved cash flows through an improved pay as you go instalment system; and 1 July 2024 for Digitalising trust income reporting.

      Last modified: 26 May 2022QC 68202