Campaign: Tax System Improvement

My gov

Currently you cam only use an email address for one my gov registration. While the rationale is understandable. It doea not work effectively. This practice stops children from assisting parents or relatives to lodge tax returns. This is an easy fix which provides greater flexibility and will increase participation with My Gov

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Campaign: Tax System Improvement

Ability to appoint multiple public officers

Companies carrying on a business or deriving property income in Australia are required to have and must appoint a public officer for the company. Amongst other things, the appointed public officer is the only person who is entitled to sign the company tax returns. The legislation does not allow for the appointment of multiple public officers for a particular company. There should be opportunity to appoint more than one ...more »

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Campaign: Tax System Improvement

Unnecessary tax return form item

Total salary and wages expenses is one of the financial information disclosures on income tax returns of entities carrying on business. This disclosure is unnecessary because the ATO already gets this info from PAYGW disclosures on the business's BAS. Having to work out the payment summary equivalent figures to disclose on a tax return of an entity with a substituted accounting period can be very time consuming. Most ...more »

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Campaign: Tax System Improvement

New Project Contribution/ levy

Would the board consider making recommendations to the government to introduce a voluntary tax levy (administered through the tax system) whereby the average Australian is offered an option to contribute towards a project ( could be a long term infrastructure project like high speed rail) and get a tax deduction for it. The revenue generated will go into a fund specific for that project. The average Australian will feel ...more »

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Campaign: Tax System Improvement

Productivity and workplace diversity – current measures ineffect

There are currently two FBT exemptions currently available which relate to child care: 1. Exemption for the provision of child care facilities – a key requirement is that the employer must provide the child care facility on its business premises. 2. Exemption for contributions made to obtain priority of access – of little practical value when compared to the cost of child care itself. It is understood that only an exceptionally ...more »

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Campaign: Tax System Improvement

Payroll Tax Reporting - National System

Currently, employers must collect and report monthly wages information and annual reconciliations for each State using various systems/forms. Members of a group then also require a Designated Group Employer (“DGE”) to lodge a separate annual reconciliation for each State summing the wages information for every group company both in the relevant State as well as Australia wide (in order to apply State payroll tax thresholds ...more »

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Campaign: Tax System Improvement

Superannuation Guarantee Charge Simplification

The rules governing the Superannuation Guarantee Charge (SGC) regime are complex and onerous to the extent that many SME's ignore SGC for late super remissions. These rules should be substantially simplified in order to provide clarity and improved compliance.

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Campaign: Tax System Improvement

Super contribution info availability for tax agents

Currently there seems to be no way for tax agents to access taxpayer superannuation contribution details that the ATO holds. The ATO applies this info in assessing Div293 tax but the tax agent cannot accurately estimate for a client what the Div293 liability will be because tax agents cannot access the info that the ATO holds about contributions made on behalf of a taxpayer for a financial year. The tax agent can guess ...more »

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Campaign: Tax System Improvement

Main residence CGT special market value rule should be a choice

Section 118-192 of ITAA97 provides a special rule under which a main residence (if acquired after 20/8/96) is deemed to have been acquired at market value when it is first used to produce assessable income. Too many taxpayers don't get the valuation at the time (eg. because they thought they were going overseas for max 6 years so could use the absence choice, but ended up staying for 10 years) and there is no guidance ...more »

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Campaign: Tax System Improvement

Review FBT compliance costs - please!

According to a Corporate Tax Association survey of its members, Fringe Benefits Tax (FBT) is a significant compliance burden on taxpayers and is in need of reform. Whilst there have been some compliance safe harbours developed for FBT log books, other areas need legislative reform to reduce the cost of compliance with little cost to the revenue. Some simple fixes would include: > Allowing for consolidation or grouping ...more »

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Campaign: Tax System Improvement

Align Fringe Benefit Tax Year with Income Tax Year

For small businesses, calculating expenses that confer fringe benefits using a period that overlaps accounting periods adds an additional compliance burden. By aligning the two periods, a business can use their year-end figures to calculate their expenses for FBT

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