Latest ATO News and Alerts

1. ATO as a steward of the superannuation and employer obligations ecosystem

   Presentation at the Conference of Major Superannuation Funds, delivered by Dana Fleming, Acting Deputy Commissioner, Superannuation and Employer Obligations, ATO.

2. Changes to the member verification service

   We are implementing the new SMSF verification service to assist funds with processing their rollovers. Super funds have until the end of September 2021 to start using this new verification service.

3. ATO here to help those hit by COVID-19 and natural disasters

   The ATO recognises the significant challenges that continue to face the Australian community this year. Many Australians have received different income, such as support payments, or have lost records due to natural disasters.

4. Deductions and offsets for capital expenditure

   Primary producers can claim deductions for capital expenditure incurred on landcare operations, connecting or upgrading mains electricity supply to the business, connecting or extending a phone line and creating shelterbelts on land used for primary production.

5. Division 7A - Loans

   Loans made by private companies to shareholders, and associates of shareholders, for purposes of Division 7A of Part III of the Income Tax Assessment Act 1936.

6. Extension of time to make minimum yearly repayments on Division 7A loans

   Borrowers affected by COVID-19 can apply for administrative relief for Division 7A minimum yearly repayments.

7. Introducing SMSF rollover alerts

   SMSF rollovers are now being included in SuperStream. As a result, you may receive an email or text message notifying you of your rollover request.

8. Key superannuation rates and thresholds

   These are the key rates and thresholds that apply in relation to contributions and benefits, employment termination payments, super guarantee and co-contributions.

9. News and alerts for APRA-regulated funds

   Keep up to date with the latest news for large superannuation funds on issues and changes in the administration of Australia's super system.

10. Open consultation

    You can participate in our open consultation. We encourage you to have your say.

11. Reminder to exclude COVID-19 ERS payment from PAYG reporting

    Funds should exclude COVID-19 ERS payments from their PAYG withholding reporting. Including these payments could result in the miscalculation of the tax payable by individuals.

12. Rent or lease payment changes due to COVID-19

    Your business tenant or landlord tax obligations may change if you give or receive rent concessions as a result of COVID-19.

13. Request to extend time to make 2020-21 minimum yearly repayments for COVID-19 affected borrowers under section 109RD

    Request to extend time to make 2020–21 minimum yearly repayments for COVID-19 affected borrowers under section 109RD if unable to pay owing to circumstances beyond your control.

14. Request to extend time to make minimum yearly repayments for COVID-19 affected borrowers under section 109RD

    Request to extend time to make 2019–20 minimum yearly repayments for COVID-19 affected borrowers under section 109RD if unable to pay owing to circumstances.

15. Tax tables

    This document provides a list of quick links to the pay as you go (PAYG) withholding tax tables.