Latest ATO News and Alerts

1. Are you a director or becoming one soon?

   Directors must apply for a director identification number (director ID). The ABRS is contacting directors who haven't applied within the required timeframes.

2. Don’t take a punt with your tax return

   The Australian Taxation Office (ATO) is informing taxpayers that they risk any tax refund being delayed or having their return adjusted if they lodge their tax return too early.

3. Capital allowance: effective life - rulings, law and objections

   Details of ATO rulings, law and objections relating to the effective life of depreciating assets.

4. Capital allowances: completed effective life reviews

   A list of depreciating asset effective life reviews that have been completed and the dates they took effect.

5. Capital allowances: effective life reviews

   General information about effective life reviews.

6. Commutation authorities for SMSFs

   Information for SMSFs on commutation authorities, including how to respond and what happens after you respond.

7. Excess transfer balance

   Find out what you have to do if you exceed your transfer balance cap.

8. Get involved in eInvoicing Week

   Get involved and learn how eInvoicing can help your business.

9. Important super changes now in effect: employee eligibility and super guarantee

   Employee eligibility for super has changed. Make sure you pay the right amount of super to your employees.

10. New correspondence for some clients with multiple outstanding obligations

    From June 2022, some of your clients may receive new correspondence which includes information about both their outstanding lodgment and payment obligations.

11. New offshore hybrid mismatch questions in the IDS

    There are new questions in the 2022 International Dealings Schedule (IDS); you must disclose any offshore hybrid mismatches you are aware of.

12. SAP early December balancer concessional due date

    Your early December balancing SAP company and super fund clients can lodge their tax return by 31 July 2022.

13. Streamlined TBAR for SMSFs

    We're streamlining transfer balance account reporting (TBAR) for self-managed super funds (SMSFs).

14. Support for your practice

    Support is available to help you and your practice manage events that may affect your ability to manage your clients' tax obligations.

15. Transfer balance cap - Commissioner's commutation authority

    Find out about the Commissioner 's commutation authority when a member exceeds their transfer balance cap.