Australian Taxation Office

New or updated materials on ATO website, including:

Queensland State Budget

The QLD Budget for the 2015-16 financial year was handed down yesterday. Key tax-related measures include:

  • a three-year payroll tax exemption for new companies established in QLD as part of the Advance Queensland research programs
  • the government will examine opportunities to offer a time-limited research and development tax credit matching program for technology start-ups establishing or relocating to QLD, and
  • planned increases in the payroll tax threshold will be deferred, meaning the threshold will remain at $1.1 million from 1 July 2015.

ATO Debt Collection Review

The Inspector-General of Taxation (IGOT) has released the report of his review into Debt Collection by the ATO. The ATO has agreed in principle or in part to 16 of 19 recommendations made by the IGOT, disagreed with 2 recommendations and referred 1 to Government. The recommendations cover a range of issues regarding ATO process, decision making, education and analytics regarding debt strategies.