RSM Australia

ATO

Jobkeeper deadline - extended again?

11 June 2020
A “systems issue” at the ATO’s end on the last day of enrolment caused frustration for entities that tried to log in but were locked out and could not access the portal. 

Cash Flow Boosts for Businesses

23 April 2020
If you are a small or medium business that employs staff, it has never been so important to lodge your March Quarter or March Monthly Business Activity Statement on time.

Accessing Superannuation: The practicalities

9 April 2020
One of the early announcements from the Government in response to COVID-19 was to allow certain individuals limited access to their superannuation. This was a welcome announcement for many in the early days, but the details of how this could be accessed and when it would be available remained unclear.

Deductibility of labour costs related to the construction or creation of assets

4 December 2019
Draft Tax Ruling TR 2019/D6 explains the Commissioner’s views as to when labour costs relating to the construction or creation of an asset is deductible for tax purposes under section 8-1 of the Income Tax Assessment Act 1997 (Tax Act). 

Private groups on notice – the Tax Avoidance Taskforce is coming

28 November 2019
Born out of various anti-avoidance reforms announced in the 2016-17 Federal Budget, the Australian Taxation Office (“ATO”) established a Tax Avoidance Taskforce to pursue tax avoidance activities of multinationals and high wealth individuals. 

Glencore prevails over ATO in transfer pricing dispute – appeal likely to follow

10 September 2019
On 3 September 2019, the Federal Court (at first instance) found in favour of Glencore in its transfer pricing dispute with the ATO, regarding the pricing of copper concentrate supplied by Glencore’s Australian group to its Swiss parent.

Fringe Benefits Tax – Tips and Traps for the 2019 FBT year

25 March 2019
With the introduction of Single Touch Payroll (STP), the Australian Taxation Office (ATO) now has access to real-time information about employers and their employees.   If you have employees, the more likely it is you are providing some form of fringe benefit and the higher the risk the ATO will expect to see you lodge a Fringe Benefits Tax (F

Bridging the governance gap

28 November 2018
Having worked with companies to implement tax governance frameworks for over 15 years, I’m seeing the first signs that tax governance is truly going mainstream.

Fringe Benefits Tax – ATO finalise their position on private use of vehicles.

18 July 2018
New guidelines for private use exemptions of eligible motor vehicles for Fringe Benefits Tax (FBT) - ATO says yes to making a quick stop to grab a coffee (as long as it doesn’t add more than 2kms to your trip to work and is infrequent) but no to heading to cricket practice after work. 

New GST withholding rules - what property purchasers and developers need to know

24 May 2018
The Federal Government has passed legislation that will require purchasers of new residential properties to remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. The measures were first announced in last year’s Federal Budget. The legislation specifies: 

Long-term construction contract ruling | Draft ruling issued

31 October 2017
In 1987, Aretha Franklin finally got the respect she deserved by being the first woman inducted into the Rock ‘N’ Roll Hall of Fame. Also that same year, the Australian Taxation Office (ATO) released Income Tax Ruling IT 2450 to determine how to return income and recognise expenses on long-term construction contracts.

Is the ATO watching you and you don’t even know it?

19 September 2017
The ATO is always keen to ensure that the tax system is fair and that all Australian taxpayers are paying the right amount of tax on their income.

Australia wins gold in the international transfer pricing games

2 May 2017
Australia has shot to international prominence in the transfer pricing world following the Full Federal Court’s recent decision, dismissing the taxpayer’s appeal against the first instance decision in favour of the Australian Tax Office (ATO): Chevron Australia Holdings Pty Ltd v Commissioner of Taxation [2017] FCAFC 62

Government announces changes to 457 visa

19 April 2017
Temporary Employer Skilled Migration Programme – 457 visa to be replaced

Fringe Benefits Tax Spotlight

18 April 2017
Customer Loyalty Programs Do you provide employees with a business credit card associated with a customer loyalty program?