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08 Sep 2021 Advocacy Tracker

Key issues on the radar 

Our Tax Policy and Advocacy team is always working for our members. Our Advocacy Tracker sets out the key issues that we are advocating for on your behalf, including additional resources via the hyperlinks. Should members have any queries or wish to discuss matters with the Tax Policy and Advocacy team, please contact us at Tax Policy. 

Members can also track updated ATO advice under development and matters under consultation. 

Issue 

Tax Policy and Advocacy activity 

Stakeholder 

ONGOING ITEMS 

 

 

Non-arm’s length income of superannuation funds 

Following the recent release of LCR 2021/2, and PCG 2020/5 in 2020 on how the ATO will apply the non-arm’s length income (NALI) provisions to ‘non arm’s length expenditure’ to complying superannuation entities, we continue to work with the other professional bodies to raise the practical implications of s 295-550 of the Income Tax Assessment Act 1997 with the government. 

ATO 

Treasury 

2021 COVID-19 support measures 

As details of the various support measures continue to be released, and modified and updated, The Tax Institute continues to engage with the other professional associations, the ATO, the NSW Government and the Victorian Government to ensure that guidance is as timely, accurate and consistent as possible. 

We will continue to provide you with updates through our blogs and other content. The recordings of our webinar series on the latest measures are available here. 

NSW Government 

Victorian Government 

Gathering empirical data on review of TPB  

We continue to support the work being undertaken by Associate Professor Ken Devos of Swinburne University and Dr Elizabeth Morton of RMIT University, on the tax profession’s response to the Final Report of the Review of the Tax Practitioners Board led by Keith James and Neil Earle (Report). 

We encourage our members to complete the 10-minute survey

The tax profession 

PCG 2021/D2 — professional firm profits 

Following the release of PCG 2021/D2 on the allocation of professional firm profits and the ATO’s compliance approach, The Tax Institute is working through the specifics of how we will engage with our members on this important issue. 

The Tax Institute has published a member-only fact sheet on the PCG and has worked with the other professional bodies to lodge a Joint Submission with the ATO. The Tax Institute has also lodged a TTI Submission with the ATO. 

The Tax Institute is working closely with the special purpose sub-committee. We await the release of the final PCG, following which the sub-committee will determine next steps. We are working on information products, tools and resources for our members to understand any updates to the draft PCG. 

ATO 

Digital activity statements 

Following a number of members raising the issue of the removal of paper activity statements with us, The Tax Institute escalated the matter to the ATO late last year. 

This has resulted in a series of regular meetings to discuss the impact of the ATO’s decision to remove paper quarterly PAYG and GST instalment notices and the design of an interim solution which involves the reinstatement of paper activity statements from the March 2021 quarter. 

We continue to work with the ATO in the design of a permanent solution. 

ATO 

 

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