Reduced penalty period now open for foreign investors The ATO are offering reduced penalties for foreign investors who disclose possible breaches of Australia’s foreign investment rules for purchases of Australian real estate. The reduced penalty period (RPP) is only available until 30 November 2015. From 1 December 2015 new criminal and civil penalties will apply. If […]
ATO’s 2013 Compliance Program highlights
ATO’s 2013 Compliance Program highlights As usual, the ATO has released its annual Compliance Program, and following are some of the main ‘highlights’ of which all practitioners should be aware. Incorrect work-related expenses claims This year the ATO will pay particular attention to high claims made by: building and construction labourers, construction supervisors and project […]
Enhanced Third Party Reporting, Pre-Filling and Data Matching
Enhanced Third Party Reporting, Pre-Filling and Data Matching The 2013/14 Budget contained a measure called “Tax compliance – improving compliance through third party reporting and data matching”. Basically, this measure consists of a number of different elements to improve and increase the information reported to, and gathered by, the ATO. The proposed reporting regimes are […]
Contractor & Council Data Matching Program
Contractor & Council Data Matching Program The Australian Taxation Office (ATO) is committed to voluntarily comply with the Guidelines on data matching in Australian government administration (2014) (Guidelines) published by the Office of the Australian Information Commissioner (OAIC). The ATO has advised that it will acquire details of approximately 20,500 individuals providing contractor services to […]
Data identifying all motor vehicles sold
Data identifying all motor vehicles sold The ATO has obtained, or will obtain, data identifying all motor vehicles sold, transferred or newly registered in the 2011/12 and 2012/13 income years, where the transfer and/or market value is $10,000 or greater, from all of the State and Territory motor vehicle registering bodies. Data relating to approximately […]
Data Matching Programs
Data Matching Programs The Government has announced that it will request and collect information for the purposes of the following data matching programs. Credit and Debit Card Data Matching Program The ATO will request and collect data relating to credit and debit card sales of approximately 900,000 businesses for the periods from 1 July 2012 […]
