Australian Taxation Office

New or updated materials on ATO website.

Data matching

The ATO has provided notice in the gazette regarding a new data matching program in which it will request and collect online selling data relating to registrants that sold goods and services of a total value of $10,000 or more for the period 1 July 2013 to 30 June 2014. These records will be electronically matched with other data to identify non-compliance with registration, lodgment, reporting and payment obligations under taxation laws.

Labor's superannuation policy

The Australian Labor Party has this morning released its superannuation policy which includes the following measures:

  • removal of the tax exemption on fund earnings during the pension phase for earnings over $75,000 (earnings above this amount would instead be taxed at 15%) and
  • lower the threshold for the 15% additional tax on superannuation contributions of very high income earners from $300,000 to $250,000.