2018 SAN misuse mailout results
Results from the 2018 SAN misuse mailout along with additional actions taken since we contacted tax agents who prepared the 2018 annual returns. Source: https://www.ato.gov.au/Super/Sup/2018-SAN-misuse-mailout-results/
31 October due date may apply to your SMSF
If you did not lodge your previous years SMSF annual return (SAR) on time or are a new SMSF preparing your own SAR, your due date for 2019-20 is 31 October 2020. Source: https://www.ato.gov.au/Super/Self-managed-super-funds/In-detail/News/31-October-due-date-may-apply-to-your-SMSF/
Corporate tax transparency data
We are notifying certain corporate tax entities in September that we’ll be extracting data from their lodged tax returns for the 2018–19 Report of entity tax information. Source: https://www.ato.gov.au/Business/Business-bulletins-newsroom/General/Corporate-tax-transparency-data/
Reminder: more businesses need to lodge TPAR
With the ultimate distraction of the pandemic, many businesses around Australia may not be aware that they will be required to lodge a Taxable Payments Annual Report (TPAR) for the first time this year. Not only has the TPAR expanded to include road freight, information technology, and security, investigation or surveillance services this year, due …
Insight into GST compliance
As most Australian companies focus on the health of their customers and staff at this critical time, it is important to not neglect the business side of things, especially GST. Recently, the ATO provided an update on one of its GST assurance programs. While aimed at large public and multinational companies, the methodologies on how …