Bushfire relief from ATO obligations
Aspen Corporate • 19 December 2019
Bushfire relief from ATO obligations
The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes.
Taxpayers can also call the ATO directly to request further assistance, such as requesting extra time to manage tax debt or lodgements, help finding lost documentation such as Tax File Numbers, reconstructing tax documentation, fast tracking refunds, interest free periods, and remittance of penalties or interest charged during the crisis.
Accessing superannuation funds for medical treatment or financial hardship
The Federal Government had a consultation process on supermarket unit pricing. This is not only a consumer issue, but it could have commercial impacts for suppliers
Leaving debts outstanding with the ATO is now more expensive for many taxpayers, as GIC and SIC imposed by the ATO is no longer tax-deductible from 1 July 2025.
A decision by the Administrative Review Tribunal highlights the importance of documentation and evidence when it comes to tax planning and the possible consequences
The Reserve Bank of Australia (RBA) delivered a 25 basis point rate cut, lowering the cash rate from 3.85% to 3.60%, the third reduction this year.
On 1 July 2025 the superannuation guarantee rate increased to 12% which is the final stage of a series of previously legislated increases.
