Latest News

Latest News

11/01/2008 BAS Service Provider Newsletter - January 2008 Issue 10 In this edition   > Super contributions due 29 January 2008 > Two years jail for $111,000 GST fraud > Tax debt – broadening our reach > BAS service provider Portal > Portal downtime January 2008 > A free BAS service provider (BSP) advisory visit > Bookkeeping essentials > Links and technical updates > Key dates for you and your clients > Subscription information > We welcome your feedback Super contributions due 29 January 2008 Employers must make super guarantee contributions for the quarter ending 31 December 2007 to a complying super fund or retirement savings account by 29 January 2008 to avoid paying the superannuation guarantee charge. Employers who are liable to pay the super guarantee charge will have to: pay the charge to us by 28 February 2008, and lodge a Superannuation guarantee charge statement – quarterly (NAT 9599) by 28 February 2008. For more information about paying super guarantee contributions and the super guarantee charge: phone 13 10 20 between 8.00am and 6.00pm Monday to Friday, or visit Employers superannuation essentials Two years jail for $111,000 GST fraud   The Newcastle District Court sentenced a Newcastle man to 24 months jail for activity statement fraud of $111,097. Tax debt – broadening our reach We have enhanced our debt collection capability. Initiatives such as the use of external debt collection agencies will enable us to contact more taxpayers about outstanding debts. This increases the likelihood that we will contact you or your client if they have a tax debt. Businesses not meeting their superannuation guarantee obligations can also expect increased contact from us. What to do if your client has a tax debt Phone 13 11 42 to discuss your client's circumstances.   BAS service provider Portal We have developed a new product especially for you as Bookkeepers providing BAS services for a fee. This new service can make your job as a BAS service provider (BSP) easier. The new BSP view of the Portal gives eligible users the ability to: prepare and lodge activity statements view and revise previously lodged activity statements add or delete clients from your client directory view client registration relating to their activity statement profile view payment options and download BAS payment slips, and communicate with us using Portal mail. You can apply for access by lodging a completed application form accompanied by evidence of your eligibility in accordance with section 251L(6) of the Income Tax Assessment Act 1936. To assist you to determine your eligibility we have a self assessment tool available on our website. You will need to apply for an ATO digital certificate to access the Portal if you don't already have one. If granted access to the Portal you will have access to a new Helpline with a menu specific to BAS service providers. The line provides access to Portal help and general information. The number is 1300 650 129. Apply for access. For more information on the BSP portal, including eligibility requirements and the application form, visit www.ato.gov.au/bookkeepers   Portal downtime January 2008   As part of our change program we will upgrade some of our systems during the upcoming Australia Day long weekend. We will need to take the Tax Agent and Business Portals offline from 9.00pm Friday 25 January until 8.00am Sunday 27 January 2008. We apologise for any inconvenience this may cause.   A free BAS service provider (BSP) advisory visit   Your feedback on the BAS service provider advisory program tells us that the visits are proving to be a very positive experience. Comments include: 'I am glad I finally got around to receiving the BSP advisory visit, it was very much worth it.' 'I am very pleased I had the BSP advisory visit. It puts a personal touch to a government department that is often accused of being impersonal. It has changed the way I look at the Tax Dept.' 'Very helpful advice received, well worthwhile. Excellent information provided very clearly and concisely.' To book your free BSP advisory visit, email the requested details to us and one of our experienced officers will arrange a convenient time for the visit.   Bookkeeping Essentials Bookkeeping essentials (www.ato.gov.au/bookkeepers) brings together many focus areas identified in our consultations with you, and contains information helpful to you, your clients, and your business. Save Bookkeeping essentials to your 'Favorites' in your web browser and have the information you need at your fingertips every day.   Links and technical updates   Changes to market thresholds Information on the changes to the market thresholds. The upper turnover threshold of the small to medium market has changed from $100m to $250m. Activity statement update – Quarter 2 2007–08 Activity statement update helps you prepare your activity statements. Portal maintenance schedule Provides details of scheduled Tax Agent Portal (which includes the new BSP view) and Business Portal maintenance. We set taxi earning rate for 2006 The national taxi vehicle earning rate for the year ended 30 June 2006 will rise to $1.06 per kilometre. The rate provides a benchmark figure for average taxi earnings, and is seen by us as the most reliable guide to operators' expected earnings each year. Fact sheet for small business entities in other languages The Concessions for small business entities fact sheet (NAT 71398) is now available in Arabic, Chinese, Vietnamese, Turkish and Korean through the 'other languages' section of our website. Fringe benefits tax (FBT) and entertainment for small business This guide helps small business employers to understand FBT and entertainment and to decide whether or not they may have to pay FBT. Your key business tax obligations This is a guide to tax issues for small business with an annual turnover of less than $2 million. You can use this guide to find out which taxes affect businesses and where to get more detailed information. NAT 1908. Record keeping for small business This guide provides information on what business records you need to keep and outlines a basic record keeping system. NAT 3029. Making an adjustment on your activity statement Instructions on making an adjustment of net goods and services tax (GST) liability for a reporting period – read this guide in conjunction with Goods and services tax – how to complete your activity statement. Activity statement processing statistics The latest information and statistics about processing activity statements for the current financial year has been published. Your super questions answered Answers to common questions your clients may have about superannuation. Super changes at a glance for employers Outlines the key changes to super which are relevant for employers. ABN applications – how to reduce phone calls about main business activity Unnecessary phone calls from us can be avoided by providing a detailed description of the client's main business activity when lodging their Australian business number (ABN) application. PAYG payment summary – employment termination payment Employers must complete this payment summary when making an employment termination payment to a payee. Tax information in languages other than English We provide a range of information and services in other languages to help you and your clients. Rates, calculators & tools Various rates, calculators & tools available for businesses. Rates – includes PAYG withholding tax tables Calculators – includes the online version of the Tax withheld calculator Tools – includes employee/contractor decision tool Foreign exchange rates List of daily, monthly and annual foreign exchange rates – includes monthly and daily rates for November 2007. Legal database updates Updates to the legal database this month. The legal database is a collection of legal and policy information providing access to much of the material we use when making decisions.   Key dates for you and your clients  Note Different lodgment dates may apply if your client uses a tax agent, or if you lodge online. If you lodge online your clients must sign a declaration for each BAS electronically lodged by you. For more information see ECI – frequently asked questions and scroll down to 'What records do I have to keep to show that I have authority to lodge a client's activity statement?'. This list is not comprehensive, it is a guide only. Events or timelines may change. Where a due date falls on a day that is not a business day (that is, a Saturday, Sunday, or public holiday), lodgment or payment may be made on the first business day after the due date (indicated by * in the table). 21 January 08 December 2007 monthly activity statements: final date for lodgment and payment. 21 January 08 Quarter 2 (October – December 2007) consolidated instalment activity statements: final date for lodgment and payment by a head company of a consolidate group. 21 January 08 Quarter 2 (October – December 2007) activity statements containing a monthly GST obligation: final date for lodgment and payment. 28 January 08* Superannuation guarantee contributions for quarter 2 2007–08 (1 October – 31 December) – contributions to be made to the fund by this date. If an employer does not pay the minimum superannuation guarantee contributions for quarter 2 by this date, they must pay the superannuation guarantee charge and lodge a Superannuation guarantee charge statement – quarterly with us by 28 February 2008. The superannuation guarantee charge is not tax deductible. 21 February 08 January 2008 monthly activity statements: final date for lodgment and payment. 28 February 08 Superannuation guarantee charge statement – quarterly (if required contributions were not made by the due date) for quarter 2 2007–08 (1 October – 31 December). The superannuation guarantee charge is not tax deductible. 28 February 08 Quarter 2 (October – December 2007) activity statements: final date for lodgment and payment, including electronic lodgments. 28 February 08 Annual GST return (Option 3 and annual GST payers) or annual GST information report (Option 2): final date for lodgment and payment (if required) if you do not have an income tax return lodgment obligation. 28 February 08 Quarter 2 (October – December 2007) instalment notices – forms S and T. Final date for payment and, if varying instalment amount, lodgment. 21 March 08 February 2008 monthly activity statements: final date for lodgement and payment. Other important dates For a full list of business lodgment dates, see Key lodgment dates for businesses. If your clients use a tax agent it may be helpful to see Keydates for tax agents.   Subscription information   Keep your newsletter subscription information up to date: Subscribe – to register so that this newsletter can be forwarded directly to you Update your subscription details – to amend your email or contact information Unsubscribe – if you no longer wish to receive this newsletter We welcome your feedback   Your comments and suggestions will help us provide the information you need in this newsletter. Email your feedback to BSPsubscription@ato.gov.au Note Do not use this address for technical or procedural enquiries. To address these queries visit www.ato.gov.au or phone 13 28 66.