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Tax Time 2024 update – 16 July

Key messages and themes from the Tax Practitioner Stewardship Group (TPSG) tax time meeting held on 16 July 2024.

Published 24 July 2024

ATO systems and digital services

Overall, our system health is tracking well, and the waiting room for Online services for individuals haven't been required in the past week.

On 17 July 2024, around 1 million users logged into the online systems over the day, with higher volumes of users between mid-morning and midday.

Tax return processing and phone services

The high demand in our call environment has steadied, with call volumes on the registered agent phone line down by 7% from last year.

Approximately 2 million returns have been lodged since 1 July 2024, which is around 1% increase compared with the same time last year.

  • Self-preparers – 1.5 million, around 8% increase compared with the same time last year.
  • Agent prepared – 500,000, around 3% decrease compared with the same time last year.

By 15 July 2024, 90% of employers have finalised their Single Touch Payroll (STP) income tax statements, around 12% increase on last year.

Marketing and communication

Current ATO communications focus is on the support options available when individuals are ready to lodge their tax return. This includes the tax help and tax clinics services, the assistance available in using a registered tax agent, as well as support for first nations, and culturally and linguistically diverse taxpayers.

Other current communications include:

  • The second Tax Time 2024 video is focused on the preparations clients can make ahead of meeting with their tax agent to discuss their tax return lodgments.
  • Highlighting that Not-for-profit (NFP) entities that don't have an ATO approved substituted accounting period (SAP) can lodge their NFP self-review return based on their purpose, and activities undertaken in the year ending 30 June 2024. NFPs may not need to apply for an ATO approved SAP before they lodge their 2023–24 NFP self-review return.
  • Helping to keep your employer clients up to date with their super obligations.
  • Information about the ATO’s updated Division 7A calculator and decision tool for 2024–25.

Reminders about:

  • How to treat repairs and capital expenses for rental properties with some handy tips on correctly categorising deductions for repairs and improvements made to rental properties.
  • What expenses small businesses can claim and what records they need to keep when claiming home-based business and motor vehicle deductions.
  • How to check annual lodgment performance through Online services for agents (OSFA), and how to generate the ‘to do’ list of income tax returns (via the Income tax lodgment status report).

Small business

Our 2024 Tax Time toolkit for small business is now available and includes links to useful information, tools, calculators, learning resources and other support and services, as well as updated factsheets. For more information see Tax Time toolkit for small business.

The following are useful links:

QC102802