An accountant that is preparing tax returns. Accounting and tax return documents, pages and calculators. An elderly couple planning with their superannuation funds. A business man working on his investment property in Gordon.


October 2014

Issue 37

1 October 2014

This newsletter features the top stories on News and updates for tax professionals each week. To see all the latest articles, visit News and updates for tax professionals.

News highlights this week

Open Regional Forums - listening to local issues
Find out about Open Regional Forums and how they give us the opportunity to hear the issues that affect tax professionals in remote and regional Australia.

Lodging by ELS may add clients to your activity statement list
Where there is no registered agent number (RAN) against a client's activity statement role, lodging their statement using the electronic lodgment service (ELS) will add your RAN to that client's role.

Your clients need to prepare for SuperStream now
There are a number of steps that your clients need to take to prepare for SuperStream. Use our checklist to help guide your clients to develop plans and timeframes. updates

Your tax practice

Progress report 8 - latest figures as at 23 September 2014
This report contains tax return processing information as at close of business 23 September 2014.

Base erosion and profit shifting - a progress report on G20/OECD action
Deputy Commissioner Mark Konza provides an update on G20/OECD action on base erosion and profit shifting.

New look newsletter
Your new look Tax professionals newsletter will be sent from ATO-TPnews. So you don't miss your copy, make sure you add ATO-TPnews to your 'Safe' or 'Preferred sender' list.

Voice authentication is here
We have introduced a secure, fast and easy way to verify an individual's identity over the phone. The next time one of your clients call, they may be invited to enrol a short voiceprint, which can then be used to verify their identity. This will save time and help protect their personal information. There are no changes to the registered agent phone line at this time.

Identity crime
Information for individuals and businesses about identity crime and protecting yourself.

Comparison of SBR, Tax Agent Portal and ELS functions
Tax agents can use a number of online services to interact with us. You can compare the functions available when using Standard Business Reporting (SBR), ELS and the Tax Agent Portal.

Comparison of SBR, BAS Agent Portal and ECI functions
BAS agents can use a number of online services to interact with us. Compare the functions available when using SBR, BAS Agent Portal and the electronic commerce interface (ECI).

Registered agent symbol is now available

The Registered agent symbol provides tax and BAS agents with public recognition that they are registered with the Tax Practitioners Board (TPB).

Law, rulings & policy

Legal Database
Use the What's new links on the top right hand side of the Legal Database home page to access the latest public rulings, case decisions, ATO policy and more.

Tax topics

Fuel tax credit rates and eligible fuels
The removal of the carbon charge means that many fuel tax credit rates have changed for fuel acquired from 1 July 2014. Check the rates online before preparing your clients' BAS.

Overseas ships - voyage return
The voyage return is the approved form for foreign ships to lodge when they have a liability under Division 12 of the Income Tax Assessment Act 1936. It has been updated to reflect the cessation of freight tax letters of exemption and to include a new mailing address.

Super contribution limits - what you need to know
Fact sheet for taxpayers explaining superannuation contribution limits has been updated for the 2014-15 financial year.

Accelerated induction phase for APRA funds
By 3 November 2014, all Australian Prudential Regulation Authority (APRA) funds must be able to receive contributions unless they have notified us of an alternative start date. To enable any remaining APRA funds to be cross-certified, we have designed an accelerated induction phase from 3 November onwards.

Administrative approach to MRRT return lodgment exemptions
Exemption from lodging minerals resource rent tax (MRRT) returns for low volume non-paying entities and large volume non-paying entities.

See what else is new on

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This newsletter contains information aimed at registered tax agents and BAS agents. Before providing advice to your clients based on the contents of this newsletter, it is important to ensure your registration allows you to do so. For more information about what services you can provide as a registered tax agent or BAS agent, visit

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Latest Accounting News

Tax Specialists

We specialize in providing proactive tax planning strategies for our clients. High earning individuals and business clients can benefit by speaking to one of our tax advisors.


Good, fundamental book keeping will ensure that your accounts are up to date and give you proper control of your business. With over 85% of business failure attributed to poor financial control, skilled and professional bookkeeping will give you results that speak for themselves.

Superannuation Planning

Taking the time to plan for your future makes good financial sense. Ensure you have the money to live the lifestyle you'd like during your retirement.

Investment Properties

Preparation of negative gearing tax schedules for all investment properties. Including Depreciation Calculations and Special Building Write offs.