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  • Tax Time 2022 update – 16 August

    Key messages and themes from the Tax Practitioner Stewardship Group (TPSG) Tax Time meeting, held on 16 August 2022.

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    Attendance

    TPSG external member apologies:

    • Mark Morris, BNR partners
    • Ken Thomas, Etax Accounting
    • Mark Chapman, H&R Block
    • Steven Inglis, Findex
    • Warren Seeto, Clarity Professional Group.

    Welcome

    Members were welcomed and advised of changes to ATO representatives for the meeting.

    Action item updates

    Members were advised the item regarding incorrect advice on the use of software service ID (SSID) and Relationship Authorisation Manager (RAM) is being progressed.

    ATO updates

    Updates were provided from:

    • ATO Systems and Digital services
    • Service Delivery
    • Marketing and Communication
    • Lodge and Pay
    • Individuals
    • Small Business
    • Superannuation and Employer obligations.

    No significant issues identified. Tax time is progressing well. Key points noted included:

    • There are currently no system issues to report.
    • Individual lodgments for the current year are tracking slightly higher than last year.
    • 3.2 million self-prepared and 2.3 million agent lodged tax returns have been received.
    • Contact centres are meeting 90% service standard.
    • Our communication focus is
      • reminding businesses to include all assessable income in their tax return, as well as understanding the types of expenses they can claim
      • reminding agents to consider the need to check their client’s family circumstances when completing returns
      • promoting Online Services for Agents (OSfA) as the quickest and easiest way for agents to access copies of tax documents for their clients.
       
    • Two videos have been released for tax agents, focussing on
      • how agents can use the ATO app and our online services to help their clients with record-keeping, setting up a payment plan, and tracking the progress of returns
      • how agents can support their clients with navigating the treatment of investments and assets such as rentals and CGT (capital gains tax).
       
    • The Tax professionals newsletter included information about
      • keeping the system fair and how the community, clients and agents can report suspected shadow economy behaviour or other illegal activity to the Tax Integrity Centre
      • draft guidance documents that have been released by the Tax Practitioner’s Board for consultation
      • the release of Taxation statistics 2019–20, which provides a snapshot of Australia’s tax and super systems.
       
    • Lodge and pay continues to focus on enforcement activity. This week Lodge and Pay representatives met with a group of tax agents to understand the irritants and opportunities currently being experienced with payment plans.

    Member comments

    A member indicated that there was a delay in the processing of returns that included a Lump Sum E amount. The member indicated they would email examples for further investigation.

    We advised that we would review any examples and provide an update at the next meeting.

    Member issues and insights

    Updates on previously raised issues

    A member re-raised the issue of the tax treatment of government payments. We advised this issue is being looked into and a response will be provided.

    Member comments

    A member advised there is an emerging issue of uncertainty regarding documentation required to substantiate crypto asset transactions.

    Several members requested we provide better guidance on crypto asset reporting requirements, to assist tax agents advise clients about the information needed from their crypto software transactions when lodging. We advised a check list would be a starting point to address this complex situation, advising further discussion will take place.

    Useful links

    Last modified: 25 Aug 2022QC 70257