Business

December 2024

February 2025

Targeted consultation is underway.

To seek feedback on public advice and guidance priorities for Australia’s new public country-by-country reporting regime.

Following the introduction of the public CBC reporting regime in Australia, the ATO is committed to ensuring clear and effective guidance on its administration.

One key component of this regime is the exemption process, which allows certain entities to apply for full or partial exemptions from public reporting requirements under specific circumstances.

To support the fair and transparent administration of exemptions, we are developing a PSLA to outline the criteria, evidence requirements, and decision-making framework. This PSLA will outline the Commissioner of Taxation’s approach to proposed public CBC reporting exemptions in the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024. The guidance will include:

• the process for submitting applications
• information that should be provided with applications
• considerations relevant to the exercise of the discretion sought.

This initiative builds on feedback received during the consultation process for the drafting of the public CBC reporting and aims to provide clarity and certainty to affected multinational entities (MNEs).

Members of the:

• National Tax Liaison Group
• Large Business Stewardship Group
• Private Groups Stewardship Group

Other key stakeholders

Chris Bailey, Public Groups
PublicCBC@ato.gov.au
Phone 02 6216 6581

October 2024

February 2025

Targeted consultation is underway.

To understand the implications for business if eInvoicing becomes the preferred channel for government to accept invoices from suppliers, and to explore the support expected from the Australian Peppol Authority, particularly during the transition period.

Currently, use of eInvoicing via the Peppol network in Australia is optional. Despite efficiency and security benefits, adoption to date remains below the levels to needed to realise the broader productivity benefits associated with the technology. Consultation will explore how the Australian Peppol Authority can increase the use of eInvoicing for business to government transactions, how this would affect various segments of the community, and what support may be required to assist through the transition period.

• Small, medium and large businesses
• Tax and BAS agents
• Federal government departments
• Digital service providers

Mark Stockwell, Enterprise Solutions and Technology
Mark.Stockwell@ato.gov.au
Phone 07 3149 5022

June 2024

December 2024

Targeted consultation is underway.

To seek feedback on proposed additional examples of tax consequences on sales of land, including small-scale land subdivisions.

The ATO is seeking to expand on the published Tax consequences on sales of small-scale land subdivisions by adding to the examples currently on our Legal database.

The proposed expansion will centre around 3 current topical areas:

• properties acquired or held for multiple purposes, including resale for profit
• the circumstances which constitute mere realisation of a capital asset
• carrying on a business of renovating properties, also referred to as ‘property flipping’.

• Private Groups Stewardship Group
• Communication Content Working Group
• Property and Construction Stakeholder Relationship Forum

Andrew Fenn, Private Wealth
Andrew.Fenn@ato.gov.au
Phone 08 8208 1553

February 2024

December 2024

Consultation is underway.

To explore opportunities to help small businesses calculate their pay as you go (PAYG) instalments based on current financial performance extracted from business accounting software.

The Modernisation of PAYG instalment systems measure was announced by the government in March 2022 in the Budget 2022–23 (PDF 3.83MB)This link will download a file. Under the measure, companies can choose to have their PAYG instalments calculated based on current financial performance, extracted from business accounting software, with some tax adjustments. The intent is to improve alignment between PAYG instalment liabilities and profitability, and support companies in managing cash flows.

Small businesses can use software to manage their business operations and meet their tax obligations. The ATO is exploring how data within a small business’s natural digital accounting system could be leveraged to enable the calculation of PAYG instalments based on current financial performance, without the need for legislative change.

This is part of Improve small business tax performance, one of the key focus areas in the ATO corporate plan 2023–24. The ATO is collaborating with partners to build a digital-first tax ecosystem to enable seamless tax reporting from business source systems.

• Tax professional associations
• Digital service providers
• Financial technology providers
• Tax and BAS agents
• Small businesses

Michael Morton, Small Business
Michael.Morton@ato.gov.au
Phone 02 9374 2043

August 2023

January 2025

Targeted consultation is underway.

To seek feedback regarding implementation of the next phase (Tranche 2) of the Sharing Economy Reporting Regime including:

• public advice and guidance
• reporting requirements (data and lodgment).

Schedule 2 of the Treasury Laws Amendment (2022 Measures No. 2) Act 2022External Link requires operators of electronic distribution platforms (EDPs) to report information to the ATO on transactions relating to supplies made through the platform. This measure implements a recommendation of the report of the Black Economy Taskforce.

Under the measure, EDP operators are required to report transactions that occur on or after:

• 1 July 2023 if it relates to a supply of taxi services (including ride-sourcing) or short-term accommodation
• 1 July 2024 for all other reportable transactions.

The first phase (Tranche 1) of consultation, [202230] Sharing Economy Reporting Regime, considered EDP reporting transactions related to a supply of taxi service (including ride-sourcing) or short term accommodation.

Consultation for Tranche 2 will include all other reportable transactions for all other industries.

• EDPs operating across all other affected industries
• Peak body representatives
• Tax and other professional associations

Vanessa Kelly, Small Business Experience
vanessa.kelly2@ato.gov.au
Phone 02 4223 2851