Your payment reference numbers (or EFT codes) are different for each of your tax accounts for example income tax, FBT, BAS, or super). You need to use the correct payment reference number when paying your tax or super to: ensure your payment is credited to the correct...
The Department of Human Services (DHS) has released details of a data-matching program which will enable it to match income data it collects from social welfare recipients with tax return-related data reported to the ATO. The data matching will assist DHS to identify...
The ATO is reviewing arrangements where individuals (at or approaching retirement age) purport to divert personal services income (PSI) to a self managed superannuation fund (SMSF) to minimise or avoid their income tax obligations. The ATO notes the arrangement it has...
The ATO has reminded individuals to make sure they get their deductions right this tax time. Assistant Commissioner Graham Whyte said the ATO has seen “claims for car expenses where logbooks have been made up and claims for self-education expenses where invoices were...
A Bill has been introduced in Parliament which proposes to: increase the small business entity turnover to $10 million from 1 July 2016; increase the unincorporated small business tax discount from 5% to 16% over a 10-year period; increase the turnover threshold to...
21 September Lodge and pay August 2016 monthly activity statement. 30 September Lodge the PAYG withholding payment summary annual report for payers whose registered agent (BAS agent or tax agent) helped prepare the report. If a payer has only closely held payees and...
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