Australian Taxation Office

New or updated materials on ATO website, including:

  • ATO Corporate Plan 2015-19 which sets out the ATO's purpose, significant activities, operating environment, planned performance and evaluations, capability and risk oversight and management. Key priorities for the year ahead include: improving the ato.gov.au website, encouraging greater take up of Standard Business Reporting enabled products, continuing focus on multinational enterprises that aggressively tax plan through international structures and profit-shifting strategy, implementing an effective process for application of the Statutory Remedial Power, identifying and taking action against those hiding assets in offshore tax havens or participating in aggressive tax planning, and improving quality, timeliness and accountability of private and public advice and guidance including using data to identify priority issues. Also refer to the ATO's Every Year Countsseries which provide an overview of the changes that various taxpayer segments will see over the coming year.
  • Rulings to be issued on Wednesday (no major rulings scheduled for release)
  • Ride-sourcing and tax: free webinars about the tax implications for ride-coursing drivers
  • New and withdrawn ATO Interpretative Decisions (ATO IDs):

Agricultural White Paper

The Government has released its Agricultural Competitiveness White Paper which sets out the Government's policies to strengthen the agricultural sector. From a tax perspective, the Paper discusses a number of measures already announced or enacted (for example, accelerated depreciation for fencing), outlines proposed changes to the Farm Management Deposits scheme and income tax averaging, as well as reports on a number of measures (eg non-commercial loss rules) to be considered as part of the Tax Reform White Paper.