ABN applications
Changes to ABN application process The ATO has made changes to the Australian Business Number (ABN) application process to help safeguard its integrity. The recent changes focus on: identifying people going through the application process multiple times confirming entitlement and helping people understand their obligations where there may be some doubt ensuring only those who […]
2019/20 Federal Budget for business
Changes affecting business taxpayers Increasing and expanding access to the instant asset write-off The Government has announced that it is increasing and expanding access to the instant asset write-off with effect from 7:30 PM (AEDT) on 2 April 2019 (i.e., ‘Budget night’) until 30 June 2020. The changes in this regard are twofold, as follows: […]
Taxable Payments Reporting System
Expansion of the TPRS The Taxable Payments Reporting System (TPRS) has been expanded to the cleaning and courier services industries from 1 July 2018. Businesses that have an ABN and make any payments to contractors for cleaning or courier services provided on behalf of the business must lodge a Taxable Payments Annual Report (TPAR) each […]
Inactive ABNs
Inactive ABNs will be cancelled by the ATO The ATO has recently advised that, in an effort to maintain accurate data, the Australian Business Register (ABR) periodically checks its records for Australian Business Numbers (ABNs) and automatically cancels those that appear inactive. Ultimately, a taxpayer’s ABN may be cancelled if they: have told the ATO […]
