After the tax time meeting held on 23 July 2024, the Tax Practitioner Stewardship Group (TPSG) has introduced key messages and themes.
Marketing and Communication
Current ATO communications emphasise encouraging taxpayers to lodge because most pre-fill data is available now, a reminder about ATO’s online progress of return checking tools, and content on various channels to help people understand how their tax is assessed.
Other current communications include:
- 5 common working-from-home questions – to help in claiming work-from-home deductions, covering rates, eligibility and records that must be maintained.
- A video for tax agents on viewing clients’ ‘Single Touch Payroll income statement’ in online services.
Reminders were issued about:
- Quarterly activity statements are due on 28 July, encouraging lodgment and payment on time and reminding businesses they may get more time to lodge if they lodge through a tax or BAS agent.
- The small business tax time toolkit – a helpful resource for agents to share with small business owners that contains fact sheets and detailed information on eligibility criteria for new measures.
- Rental property owners are required to report the total amount of rent they received from their tenants in a given year, rather than the net amount they receive from their property manager. Additionally, they must report each owner’s share of rent based on their legal ownership.
More Useful Links
Accountant Melbourne
Bank Reconciliation Statement