No changes to Private Health Insurance rebate
In a little bit of good news, Australians with private health insurance will NOT see decreases to the Private Health Insurance rebate from 1 April.
Overdue TPAR Penalties
The Taxable payments annual report (TPAR) must be lodged by 28 August each year. Taxpayers who operate in certain industries and that make payments to contractors may need to report these payments in a TPAR.
JobMaker Year 2: adjusting baseline headcount
If you have been claiming the JobMaker Hiring Credit, please be aware that the ATO will now calculate an adjusted baseline headcount for the claim.
Car Expenses: 2023 cents per kilometre increase
The ATO has proposed for individual taxpayers that use the cents per kilometre method when calculating tax deductions for their work-related car expenses, that the rate per kilometre for the income year starting 1 July 2022 (the 2023 income year) will be increased to 75 cents per kilometre.
Reminder: March 2022 Super Guarantee
Employers are reminded that their Superannuation Guarantee obligation for the 1 January 2022 to 31 March 2022 quarter is due by 28 April 2022.
Penalties for small employers failing to commence STP reporting
Small employers are on notice as the ATO gets serious about Single Touch Payroll (STP) reporting.
12-month extension for loss carry-back measure
Eligible companies have a 12-month extension to claim a loss carry-back tax offset in the 2023 income year.
Super and SMSF changes and what you need to know
Multiple changes to superannuation legislation are now in place and the ATO has put Trustees of SMSFs on notice in relation to record keeping. If you are unsure of your obligations, it’s important to seek advice.
Permanent changes to AGMs and electronic communications
A Bill recently introduced into Parliament permanently allows companies to use technology to meet their regulatory requirements, and ensure that companies can continue to meet their obligations amid the uncertainty of the COVID‑19 pandemic.
ATO to assist PAYG taxpayers affected by COVID-19
To assist taxpayers who continue to be affected by COVID-19, the ATO has stated that it will not apply penalties or interest on varied instalments for the 2021/22 income year for excessive variations when the fund has taken reasonable care to estimate its end of year tax.