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  • Business

    • [201917] Information request templates – GST refund verification
    • [201914] User Testing – Tax Time change impacts on the user experience for agents, small businesses and individuals
    • [201908] Compensation payments to superannuation funds [UPDATED]
    • [201903] Trans-Tasman e-Invoicing initiative
    • [201826] Tax and System Governance Assurance Tool [UPDATED]
    • [201823] Effective life review of assets [UPDATED]
    • [201806] Professional firms – Allocation of profit guidelines and Everett Assignment web material
    • [201615] Single Touch Payroll [UPDATED]

    [201917] Information request templates – GST refund verification

    Registered: May 2019

    Expected completion: June 2019

    Status

    Consultation with members of both the GST, and Small Business Stewardship Groups is scheduled for May 2019.

    Responses from members are due by 7 June 2019.

    Purpose

    To review information requests templates for pre-issue GST refund verification as recommended by the Inspector General of Taxation in the GST refundsExternal Link review report, March 2018.

    Description

    We are committed to ensuring information requests for GST refund verification are tailored according to the risk identified through our risk assessment tools and client profiling. We are reviewing our profile questionnaires seeking feedback from industry experts to ensure the proposed questions:

    • are appropriately focused
    • streamline the existing questionnaire
    • respond to issues raised regarding voluminous or irrelevant information requests
    • uses clear and appropriate language.

    Who we are consulting

    Contact

    Helen Konstantinidis, Client Engagement Manager, Small Business

    Helen.Konstantinidis@ato.gov.au telephone (03) 9275 2119

    [201903] Trans-Tasman e-Invoicing initiative

    Registered: February 2019

    Expected completion: December 2019

    Status

    Consultation has taken place on governance (January 2019) and security (to February 2019).

    We will continue to consult as needed on further matters relating to the implementation of the Pan European Public Procurement On-Line (PEPPOL) framework in the trans-Tasman environment.

    Purpose of consultation

    To seek stakeholder input on the establishment of an Australian PEPPOL authority and associated arrangements.

    Description

    The Australian and New Zealand Prime Ministers issued a joint announcementExternal Link on e-Invoicing on 22 February 2019 stating the two countries’ intention to adopt the Pan European Public Procurement On-Line (PEPPOL) interoperability framework as the basis for trans-Tasman e-Invoicing.

    We are seeking input from businesses, government agencies, intermediaries and digital service providers on the establishment of an Australian PEPPOL authority and associated arrangements.

    Matters may include, but are not limited to the governance, semantic and technical aspects of the framework.

    Who we are consulting

    We are consulting with a range of stakeholders, including but not limited to:

    Contact

    Bruce Rossel, e-Invoicing Project Team, Business Reporting and Registration

    e-invoicing@ato.gov.au telephone (02) 6216 1787

    [201826] Tax and System Governance Assurance Tool

    Registered: November 2018

    Expected completion: July 2019

    Status

    A workshop was held on 9 April 2019 with a number of advisors and Private Groups Stewardship Group members to test the functionality of the newly designed Information System Risk Assessment (ISRA) tool. The participants are now piloting the tool to provide feedback on the:

    • functionality
    • content within the tool
    • support guide

    The ISRA tool is on track for release on 1 July 2019.

    Purpose

    To seek:

    • end user input into the development of the Information System Risk Assessment tool.
    • qualitative feedback on the benefits, time and cost savings the tools would deliver, if made available

    and user test and shape external communication to raise awareness of Effective Tax Governance and Information Technology (IT) System Governance.

    Description

    The ATO has used an information system risk assessment tool over the past three years as one tool in assessing tax governance in the ATO’s Top 320 private groups tax performance program to assess the governance, controls and health of IT systems used.

    The tool helps identify any risks that may impact on the completion and correctness of tax and superannuation reporting obligations. We review four focus areas:

    • tax governance
    • tax risks
    • significant and new transactions
    • variations in accounting and tax results.

    The ATO has been approached by a number of agents and clients to consider releasing the tool so taxpayers can self-assess and/or prepare for an ATO Top 320 client engagement.

    Who we are consulting

    Privately Owned and Wealthy Groups and their tax professionals

    Contact

    Sharon Sutcliffe, TASGAT Project Lead, Private Wealth

    Sharon.Sutcliffe@ato.gov.au telephone (03) 9275 9733

    [201823] Effective life review of assets

    Registered: August 2018

    Expected completion: May 2019

    Status

    Consultation with appropriate industry participants occurred between June 2018 and December 2018. Draft asset lists and effective lives have been published for public comment and were sent to participants and professional associations for comment. Comments for consultations have now closed.

    Draft determinations will be referred to the independent review panel in May 2019.

    Purpose

    To determine the effective life of assets used in the following industries:

    • aged care
    • banking
    • residential property operators including rental properties
    • scientific testing and analysis services – mineral lab assets
    • supermarket and grocery stores
    • wholesale trade – warehousing (multiple industries).

    Description

    Under section 40-100 of the Income Tax Assessment Act 1997 the Commissioner may make determinations of the effective life of depreciating assets. The determinations will be used to update and expand the effective life schedule attached to Taxation Ruling TR 2018/4.

    The draft effective lives determinations will be referred to an independent review panel to be held in early May 2019. The review panel checks the review process to confirm that the level of industry consultation was appropriate. If approved, the effective life determinations are expected to apply to assets purchased on or after 1 July 2019.

    Who we are consulting

    • profession associations
    • industry associations
    • businesses
    • suppliers
    • manufacturers and repairers of assets used in these industries

    Contacts

    Kim Dziedzic (Aged care), Capital Allowances Team, Advice and Guidance, Public Groups and International

    kim.dziedzic@ato.gov.au telephone: (07) 3213 5764

    Scott Harris (Banking), Capital Allowances Team, Advice and Guidance, Public Groups and International

    scott.harris@ato.gov.au telephone: (07) 3213 5791

    John Di Francesco (Residential property operators including rental properties), Capital Allowances Team, Advice and Guidance, Public Groups and International

    john.difrancesco@ato.gov.au telephone: (07) 3213 6059

    Susan Li (Scientific testing and analysis services – mineral labs), Capital Allowances Team, Advice and Guidance, Public Groups and International

    susan.li@ato.gov.au telephone: (07) 3119 9891

    Shirley Liao (Supermarket and grocery stores), Capital Allowances Team, Advice and Guidance, Public Groups and International

    shirley.liao@ato.gov.au telephone: (07) 3213 5264

    Bernie Mosslar (Wholesale trade – warehousing (multiple industries)), Capital Allowances Team, Advice and Guidance, Public Groups and International

    bernard.mosslar@ato.gov.au telephone: (07) 3213 5586

    [201615] Single Touch Payroll

    Registered: April 2016

    Expected completion: July 2019

    Status

    The status of activity from each of the Single Touch Payroll (STP) consultation groups are available at:

    Purpose

    To:

    • raise awareness of Single Touch Payroll across industry
    • ensure we engage with a broad cross section of industry, including software developers, solution providers, associations and businesses
    • work in partnership with industry for them to help shape and influence design
    • use industry expertise and experiences as we progress the implementation of STP.

    Description

    Schedule 23 of the Budget Savings (Omnibus) Act 2016External Link contains Single Touch Payroll reporting which means:

    • employers with 20 or more employees are required to report through Single Touch Payroll-enabled software.
    • the following information must be reported on or before the day you withhold from a payment (the pay day):      
      • payment information, including salary or wages, allowances, deductions, etc.
      • withholding amounts
      • superannuation liability information or ordinary times earnings (OTE).
       
    • employers who fully report all the information required through Single Touch Payroll will not have to comply with a number of other reporting obligations under the existing law. This includes providing certain payment summaries and the corresponding payment summary annual report (PSAR). They will need to provide a finalisation declaration to the ATO.
    • there is no requirement to pay PAYG withholding at the time of reporting, however an employer may make voluntary payments if they choose.
    • The Treasury Laws Amendment (2018 Measures No. 4) Bill 2018External Link, extending STP to small and micro businesses was passed by the House of Representatives on Tuesday 12 February 2019. The law change will come into effect on 1 April 2019.
    • In addition, further design elements of Single Touch Payroll and initial guidance for Phase 2 of the program are continuing through consultation with key industry working groups.

    Who we are consulting

    • intermediaries
    • software developers
    • businesses
    • industry representatives
    • super funds and clearing houses
    • employees.

    Contact

    John Shepherd, Assistant Commissioner Single Touch Payroll, Superannuation and Employer Obligations

    singletouchpayroll@ato.gov.au telephone: (02) 6216 6678

    Last modified: 16 May 2019QC 54486