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  • Clarifying how we administer tax cuts

    Following media commentary we would like to clarify that in respect of announced tax cuts, while we do need law change there are also things we can do administratively.

    For example, if the Labor party agrees to support the Coalition tax cuts as announced, then we would be able to update the tax withholding schedules, to allow the tax cuts to be reflected in people’s take home pay. However, we could not issue assessments based on the tax cuts until these are passed into law.

    If the law for these tax cuts passes after June, we could also retrospectively amend assessments to provide the tax cut once the law is passed.

    The ATO released a correction earlier today in relation to New Daily article.

    Last modified: 08 Apr 2019QC 58513