Australian Taxation Office

New or updated materials on ATO website, including:

  • Self-managed super funds: A statistical overview 2013-14
  • Decision impact statement in relation to the John Holland Group Pty Ltd case concerning whether the provision of flights as part of a fly-in fly-out arrangement for employees was subject to FBT, and whether the otherwise deductible rule applied to reduce the taxable value of the fringe benefit to nil. Comments due by 27 January 2016.
  • The ATO has advised that the addendum to Law Companion Guideline LCG 2015/2 regarding new section 177DA of the Income Tax Assessment Act 1936 (schemes that limit a taxable presence in Australia) will not be issuing today as previously advised.

Mid Year Economic and Fiscal Outlook

The Treasurer released the 2015-16 Mid Year Economic and Fiscal Outlook (MYEFO) yesterday. There were no major tax or superannuation measures announced. The following minor tax administration measures were included in the mid-year update:

  • additional funding for the ATO to improve its data analytics infrastructure
  • information regarding the staged implementation of Single Touch Payroll (a voluntary pilot will commence from January 2017, with all businesses able to use Single Touch Payroll for reporting from July 2017. Single Touch Payroll will be mandatory for reporting to the ATO for employers with 20 or more employees from 1 July 2018), and a new $100 non-refundable tax offset for small businesses for expenditure on Standard Business Reporting enabled software, and
  • the Government will commission the ATO to develop metrics on its dispute resolution processes so as to more effectively and efficiently prevent and resolve disputes.