01 Feb 11 Internet trading project for small-to-medium enterprises
The ATO has advised that during February and March 2011, it will contact tax agents and business contacts of companies and trusts where both of the following apply:
- who are in the $2 million to $100 million annual turnover market
- who have indicated in their 2009 income tax return that they sold goods or services via the internet.
It will call to obtain information from entities trading through the internet – specifically those trading on the internet with international entities. In particular, the ATO wishes to find out more about the nature and purpose of their internet trading. This information will help the ATO establish how effective the internet trading label on the income tax return is. The ATO says that this survey is not part of its data matching program.