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19 Jul 13 On the Taxable Payments Annual Report

MEMBER 158 writes:

"How many clients are absolutely unable to complete and lodge the taxable payments annual report by 22nd July 2013 or 26 August 2013 (if lodged by ELS via a tax agent)?

Being a completely new report and first year requirement, the ATO has GOT IT ALL WRONG AGAIN.

Clients are calling our offices advising they have not received the applicable ATO stationery & we have been requesting the abovementioned reports from the ATO on behalf of our clients.

The ATO response is it will take 5 to 7 days. Will late lodging clients receive late penalty notices?

Our Handitax software has no ELS facility in order to lodge a taxable payments annual report. I also believe an Auskey code is required.

Why on earth do the ATO make life so hard for tax agents yet again!?

I urgently request that an additional 8 weeks be granted to taxpayers and tax agents in order to lodge the 2013 taxable payments annual report without incurring any late lodgement penalties. Clients also have to finalise annual PAYG statements, quarterly GST, super, etc.

Please give us a fair Aussie go!"

THE TAX INSTITUTE’S TAX COUNSEL, STEPHANIE CAREDES, COMMENTS:

“The Tax Institute and other external representatives have raised this issue with the ATO on several occasions over the last 12 months since the Taxable Payments Reporting system was introduced. We managed to obtain the one-off extension for tax agents lodging these reports to 25 August (subject to the usual rules applying to lodgment dates that fall on a weekend, see link). Members are welcome to provide their feedback to us on their experience with this new reporting system to taxpolicy@taxinstitute.com.au