Business bulletins

Business bulletins provide the latest legislative, corporate and administrative tax news and information for medium to large businesses and their advisors.

We aim to keep you up to date by publishing news articles as issues arise.

See also:

Country by Country (CbC) reporting: Exemption Guidance now available

18 October 2016

Additional guidance is now available to help you understand the process when applying for an exemption from CbC reporting obligations.

Objecting to the determination of a car parking fringe benefit

17 October 2016

A new supporting document requirements list is now available to help you prepare an objection to the determination of a car parking fringe benefit.

GST and the margin scheme webinar - 26 October 2016

14 October 2016

You are invited to attend our free webinar on GST and the margin scheme on 26 October 2016.

Streamlining Private Ruling Applications

14 October 2016

The streamlining private ruling application will assist skilled taxpayers and advisors to provide drafts of their own ruling with guidance and support from the ATO.

Early engagement for private advice

4 October 2016

Early engagement advice services are now available for all business types and will allow all businesses to seek early advice on tax and super transactions.

Have your say on the ATO's proposed changes to penalties

20 September 2016

The Australian Tax Office wants to hear your views on the ATO Penalty consultation paper, 'Proposed changes to penalties for small business and individuals'.

Updates to fuel tax credits for heavy vehicles

16 September 2016

We are providing guidance on your entitlement to fuel tax credits for fuel used in heavy vehicles for idling, air conditioning and on public roads.

Taxpayer Alert – Restructures in response to the Multinational Anti-Avoidance Law involving foreign partnerships

15 September 2016

Some multinationals may be restructuring through the formation of a foreign partnership to avoid the Multinational Anti-Avoidance Law (MAAL).

Taxpayer Alert – Cross-border round robin financing arrangements

15 September 2016

Some Australian entities may be organising arrangements where funds are provided to an overseas entity before being returned to the Australian entity.

Reminder: Exploration Development Incentive closes 30 September

1 September 2016

You have until 30 September to notify us if you intend to participate in the Exploration Development Incentive by completing the EDI Participation form.

Tailored online experiences – making every year count

29 August 2016

The ATO corporate plan sets out our purpose, operating environment, risks, capability and planned performance over a four-year period.

Correction: Provision of general purpose financial statements consultation paper

26 August 2016

On 15 August, we published a consultation paper on the provision of general purpose financial statements by significant global entities. It has been updated, due to errors with the original consultation paper.

Making it easier to manage debt

26 August 2016

The ATO is making it easier for taxpayers to pay on time or manage any debt that arises.

Voluntary tax transparency code is now available

23 August 2016

The tax transparency code is a set of principles and minimum standards to guide medium and large businesses on public disclosure of tax information.

Open for consultation: Provision of general purpose financial statements

15 August 2016

We are seeking feedback on the proposed administrative arrangements for the provision of general purpose financial statements by significant global entities.

Taxpayer Alert - thin capitalisation

10 August 2016

Some taxpayers may be excluding the value of a debt interest that is classified as equity for accounting purposes in the determination of their debt capital.

Taxpayer Alert - offshore permanent establishments

10 August 2016

Arrangements where income is attributed to an offshore permanent establishment of a subsidiary of an Australian income tax consolidated group, which has entered into intra-group transactions.

Taxpayer Alert – GST and Multinational Anti-Avoidance Law

10 August 2016

GST implications of arrangements entered into in response to the Multinational Anti-Avoidance Law (MAAL).

Open for consultation: Offshore hubs draft practical compliance guideline

10 August 2016

We are seeking feedback on our draft practical compliance guideline for offshore hubs.

New Land Register for foreign investors from 1 July 2016

3 August 2016

From 1 July 2016, the Land Register is now being used to register both agricultural land and residential property purchases made by foreign investors

New depreciation tool to save you time

3 August 2016

The Depreciation and capital allowances tool is a quick and easy way to ensure the depreciation details in your tax return are correct.

Get smart, get Super Scheme Smart

27 July 2016

Our information pack, case studies and videos will help you get smart, get Super Scheme Smart about retirement planning schemes of concern to us.

BAS lodgment and payment for property developers

19 July 2016

Property developers still need to lodge and pay their BAS on time. If you can't pay your GST, contact us to negotiate payment options.

Changes to GST obligations for overseas businesses

12 July 2016

Certain transactions between overseas businesses and Australian businesses will no longer be subject to GST from 1 October 2016.

Year two of the Exploration Development Incentive is now open for participation

7 July 2016

If you wish to participate in year two of the Exploration Development Incentive (EDI), you need to notify us by completing the EDI Participation form by 30 September 2016.

Local file – high level design now available for Country-by-Country reporting

7 July 2016

The high level design of the Local File is now available to help you understand your new reporting requirements for Country-by-Country reporting.

Fuel tax credit rates change from 1 July 2016

7 July 2016

From 1 July 2016 the fuel tax credit rate for heavy vehicles was increased to 13.6 cents per litre.

Changes to CGT treatment for certain earnout rights

28 June 2016

New look-through CGT treatment applies to certain earnout rights created on or after 24 April 2015.

Applying the margin scheme to a property sale

28 June 2016

You may be able to pay less GST on the sale of a property by applying the margin scheme.

GST on intangibles commencing July 2017

10 June 2016

A new law applying GST to international sales of services and digital products will apply in Australia from 1 July 2017.

If you are selling property over $2 million – New rules apply

10 June 2016

New rules will soon apply to sales of Australian real property with a market value of $2 million or above. Australian residents will need to obtain a clearance certificate from the ATO prior to settlement to avoid the 10% non-final withholding tax. Foreign resident vendors may apply for a variation to the 10% withholding tax prior to the sale of property.

Penalties for breaching foreign investment rules

9 June 2016

Penalties apply to breaches of Australia’s foreign investment rules. If you deliberately avoid your obligations, you could be risking an infringement notice, criminal prosecution or civil penalty orders.

Asset deductions for primary producers

9 June 2016

We’re reminding all primary producers you can accelerate the depreciation of water facilities, fencing and fodder storage assets.

Interim guidance on preparation of 2016 unit trust distribution statements

8 June 2016

We have released interim guidance on the application of subsection 104-71(4) table item 7 in determining the tax deferred and capital gains tax concession components of unit trust distributions.

New innovation incentives for investors

2 June 2016

New tax incentives and concessions are available from 1 July 2016 for investors in early stage venture capital limited partnerships.

New tax governance guide for privately owned groups

31 May 2016

The new tax governance guide for privately owned groups provides guidance and examples on effective tax governance for common business events.

New tax system for Managed Investment Trusts

18 May 2016

Managed Investment Trusts (MITs) have access to a new tax system which modernises the tax rules for eligible MITs and increases certainty for investors.

The Common Reporting Standard (CRS) to be implemented from 2017

18 May 2016

The Common Reporting Standard (CRS) requires banks and other financial institutions to report to the ATO information about accounts held by foreign tax residents.

Creating a level playing field for property developers

12 May 2016

Are you doing the right thing with lodging your business activity statements and paying GST liabilities?

Taxpayer Alert – Thin capitalisation and inappropriate recognition and revaluation of internally generated intangible assets

26 April 2016

International profit shifting arrangements are attracting our attention.

Taxpayer Alert – Related party foreign currency denominated finance with related party cross-country interest rate swaps

26 April 2016

Related party cross-country interest rate swap agreements are attracting our attention.

Taxpayer Alert – Cross-border leasing arrangements involving mobile assets

26 April 2016

Various cross-border leasing arrangements involving mobile assets (such as vessels) are attracting our attention.

Taxpayer Alert – Arrangements in response to the Multinational Anti-Avoidance Law (MAAL)

26 April 2016

There are tax risks associated with some arrangements that have been put in place in response to the new Multinational Anti-Avoidance Law (MAAL).

Corporate tax transparency report for 2013–14 – Australian-owned resident private companies

23 March 2016

As a result of amendments to corporate tax transparency laws, the ATO has published the tax information of over 300 Australian-owned resident private companies.

New rules for foreign residents selling property

15 March 2016

New rules will soon apply to foreign residents selling taxable Australian property with a market value of $2 million or above.

Building confidence: Corporate tax avoidance update

26 February 2016

Building confidence has been updated to reflect our continued focus on corporate tax avoidance.

GST and business to business cross-border changes – Law Companion Guideline

19 February 2016

For non-resident suppliers, this Law Companion Guideline will help you understand how you may be impacted by proposed changes to the test for carrying on an enterprise in Australia

Findings from our 'Effective Tax Borne' pilot

9 February 2016

We successfully completed a pilot with businesses to test and refine the effective tax borne methodology.

Foreign investment guide released

25 January 2016

We've released a guide to assist foreign investors and their representatives understand recent changes to purchasing Australian property.

Reporting offshore to offshore supply of goods

21 January 2016

We have released information to address any confusion surrounding the reporting of offshore to offshore supplies of goods in your activity statement.

New simplified transfer pricing record keeping options

21 January 2016

We have introduced three additional simplified record keeping options for eligible businesses subject to transfer pricing provisions.

Country-by-Country reporting – Law Companion Guideline is now available

18 January 2016

Our Law Companion Guideline describes how we will implement the new Country-by-Country reporting requirements.

Last modified: 18 Oct 2016QC 43308