We are pleased to supply you with the latest edition of Client Alert, which contains information on a number of important taxation developments up to and including 27 May 2022.
- What’s next on the agenda for the government? – With the election campaign finally over and a new government sworn in, many Australians will be wondering what a Labor government is likely to tackle over the next term.
- Tax time 2022: ATO focus areas – This financial year, the ATO will again be focusing on a few key areas to ensure Australians are doing the right thing and paying the right amount of tax.
- Single Touch Payroll: Phase 2 – Many employers may not yet be reporting the additional information required under STP Phase 2, but it’s important to be ready.
- ATO resumes collecting aged debts – Taxpayers with aged debts paused during the COVID-19 pandemic should be aware that offsetting aged debts against tax refunds or credits has now resumed.
- Operation Protego: detecting GST fraud – The ATO has seen a rise in schemes where people invent fake businesses and submit fictitious BASs to obtain illegal GST refunds.
- More ATO action on super guarantee non-compliance – Firmer SG-related related recovery actions suspended during the pandemic have now recommenced, and the ATO will be chasing employers that owe super to their employees.
Click here to download our June Client Alert.