Australian Taxation Office

New or updated materials on ATO website, including:

  • Rulings issuing this Wednesday, including a new draft ruling on deductions for mining and petroleum exploration expenditure (this ruling will replace TR 98/23 which will be withdrawn with effect from 28 October 2015)
  • Common Reporting Standard (CRS) Consultation Survey - an ATO survey has been released to gather further information about current practices and estimated reporting volumes of CRS Reportable Financial Institutions and intermediaries. This feedback will assist the ATO to better understand stakeholder capabilities and the support that may be required to implement the CRS. Survey closes Friday 6 November 2015
  • Decision Impact Statement on Hii v Commissioner of Taxation regarding the Commissioner's power to amend assessments due to fraud or evasion. Comments due 20 November 2015.