2024 Completed matters

To seek feedback to understand what guidance is required to assist taxpayers with completion of the supplementary annual GST return.

In 2024–25, the ATO is introducing a new supplementary annual reporting requirement for Top 100 and Top 1,000 taxpayers who have received a GST assurance rating through an earlier GST review.

The introduction of the return will enable us to make informed decisions about future engagements with taxpayers and enhance our treatment strategies and ability to monitor GST risks that arise in the large market.

• Advisory firms
• GST Stewardship Group
• Large Business Stewardship Group

Targeted consultation provided valuable feedback which is being considered and will be incorporated in the design and implementation of the supplementary annual GST return.

Virginia Gogan, Public Groups
Virginia.Gogan@ato.gov.au
Phone 03 8632 4643

To seek feedback on the frequency, usefulness, and preferred delivery channel of the ATO statement of account.

The ATO issues statements of account for a variety of reasons using different correspondence channels (paper and electronic) and is reviewing options to reduce the frequency of automated statements of account.

The ATO is consulting with taxpayers and their representatives to obtain feedback on:

• the current frequency, usefulness, and delivery method of automated statements of account
• proposed options to reduce the number of automated statements of account issued.

• Individual taxpayers
• Small business representatives
• Tax agents
• BAS agents

Feedback confirmed a preference for:

• a reduction in the frequency of Statements of Account
• electronic delivery channels.

These insights will be considered in the scoping and design of enhancements to the Statement of Account.

Peter Moore, Strategy and Support
Peter.Moore@ato.gov.au
Phone 07 3121 7282

To seek feedback on public advice and guidance needs for the new measure addressing financial advice fees charged under section 99FA of the Superannuation Industry (Supervision) Act 1993.

The government has announced its response to the December 2022 Final Report of the Quality of Advice ReviewExternal Link by releasing an exposure draft: Delivering Better Financial Outcomes Package – reducing red tape and other measures.

Relevantly, Recommendation 7 seeks to clarify the legal basis for superannuation trustees to charge individual members for financial advice from their superannuation account, as well as the associated tax consequences.

Division 2 of the exposure draft makes amendments to the Income Tax Assessment Act 1997 to ensure that financial advice fees charged under section 99FA of the Superannuation Industry (Supervision) Act 1993 are:

• tax-deductible for the fund
• not treated as superannuation benefits of the member.

Such fees are tax deductible to the fund to the extent that the amount charged to the member’s account was not incurred in relation to gaining or producing the fund’s exempt income or non-assessable non-exempt income. The measure is proposed to have retrospective effect.

The ATO is seeking feedback on whether there are priority issues where public advice and guidance is needed to help superannuation industry stakeholders understand how the new law applies to their circumstances.

• Professional associations
• Superannuation industry representatives
• Advisory firms

Consultation provided valuable feedback which will be considered in preparation of future public advice and guidance materials.

Ernest Lui, Public Groups
ernest.lui@ato.gov.au
Phone 02 9374 2901

To seek feedback on the ATO’s administrative arrangements for accessing a deceased person’s information, particularly where a grant of probate or letters of administration has not been obtained.

In July 2020, the Inspector-General of Taxation published the report Death and Taxes – An investigation into ATO Systems and Processes for dealing with Deceased EstatesExternal Link.

Recommendation 7(b) of the report recommends the ATO seek feedback on its administrative arrangements for accessing a deceased person’s information, particularly where executors or relatives have not obtained a grant of probate or letters of administration, to determine if the administrative arrangements are satisfactory to external stakeholders or if changes are required.

• Industry representatives
• Relevant government agencies
• Members of
  • National Tax Liaison Group
  • Tax Practitioner Stewardship Group

The consultation process has identified several proposals for improvements to the administration of deceased estates and the legal framework that supports it.

The administration related proposals are being workshopped with internal stakeholders with a view to identifying which proposed improvements can be implemented.

The suggestions for improvements that have law implications are being analysed to determine which are suitable for escalating to Treasury for their consideration.

Lloyd Williams, Individuals and Intermediaries
lloyd.williams@ato.gov.au
Phone 02 6216 1030