Tax inVoice

In the final episode of Tax inVoice, podcast host, David Jepsen is joined by ATO Tax Time spokesperson Assistant Commissioner, Tim Loh to talk about the tax treatment of crypto assets. They discuss when you need to declare income and capital gains or losses, why record keeping is so important and what you need to know about non-fungible tokens (NFTs). Tim advises what to do if donating crypto, what self-managed super fund trustees need to consider when investing in crypto and what businesses need to do before accepting and using digital assets.For more information visit:Crypto asset investmentsGST and digital currencyCGT eventsSMSF investing in crypto assetsTax time toolkit for investors

ATO Assistant Commissioner, Adam O’Grady, and Services Australia General Manager, Hank Jongen, join the podcast to talk about reporting your income correctly this tax time. Find out which government payments need to be included in your tax return and the difference between the Medicare levy and the Medicare levy surcharge. They will explain what you need to do to claim a Medicare levy exemption, and the importance of correctly reporting your spouse or partner’s income.More information is available on the ATO and Services Australia websites:Income you must declareGovernment grants, payments and stimulus during COVID-19Tax time essentialsMedicare and private health insuranceMedicare Entitlement Statement from Services AustraliaWhat’s on your Centrelink payment summaryWhat families need to do at tax time

ATO Director – Risk and Strategy Kendal Hawken, joins podcast host David Jepsen to talk about work-related deductions, including what you can claim this tax time, what records you need to keep and how to avoid common errors.When preparing your tax return, it’s important to remember that what you can claim depends on the type of job you have, individual circumstances, and whether you have the required records to support the claim. Records are typically a receipt of a purchase or a form of written evidence such as a logbook, travel or working from home diary.Using the myDeductions tool in the ATO app allows you to keep track of your records digitally. Understanding what you may be able to claim based on your individual circumstances can help you avoid common errors.For more information visit:Deductions you can claimOccupation and industry specific guidesProtective items, equipment and productsWorking from home expensesHome office expenses calculatorDepreciation and capital allowances toolRecords you need to keep

Helen Castle, a volunteer from the ATO’s Tax Help program joins Tax inVoice podcast host David Jepsen to talk about the program and how it can help Australians meet their tax obligations during tax time.The Tax Help program is a free and confidential service open to people earning about $60,000 or less each year with simple tax affairs. It is designed to give people a helping hand during tax time, including those who have difficulty understanding and lodging their returns or have limited or no access to ATO online services, such as those living in remote locations.From July to October, trained volunteers can help you lodge your return, claim a refund of franking credits, submit a non-lodgment advice or lodge an amendment. If you’re eligible for the Tax Help program, you can make an appointment for Tax Help services by phoning the ATO on 13 28 61 (select option 3, then option 2). You can speak to a Tax Help volunteer:onlineby phonein person at Tax Help centres across AustraliaFor more information visit:Tax Help program for information about eligibility and what to bring to your appointmentBecome a Tax Help volunteer or open a Tax Help centreTax time essentials

The ATO’s Tax Time spokesperson Assistant Commissioner Tim Loh joins podcast host David Jepsen for another episode of Tax inVoice, to help taxpayers understand what they can and can’t claim relating to COVID-19. and the tax implications of COVID-19 Government support payments.Over the course of the pandemic, the Government delivered multiple COVID-19 support payments, each with different tax requirements.COVID-19 Disaster Payments, for instance, are non-taxable support payments and don’t need to be included in your tax return. Pandemic Leave Disaster Payments however are taxable and must be reported as income in your tax return.COVID-19 work-related expenses and working from home expenses may change what deductions can be claimed in your tax return. Eligible deductions may include:electricity expenses for heating, cooling or lightingthe decline in value of office furniture and items used for work internet and phone expensesCOVID-19 tests (if purchased for work related purposes)personal protective equipment (PPE) if required for work and not provided by your employer.For more information visit:Support for individuals and employeesHome office expenses calculatorGovernment grants, payments and stimulus during COVID-19 – tax implicationsCOVID-19 vaccination incentives and rewards for employeesWorking from home expensesProtective items, equipment and products ATO podcast in your language

In this episode of Tax inVoice, host David Jepsen is joined by the ATO’s Tax Time spokesperson Assistant Commissioner Tim Loh to discuss the fundamentals of investing, for tax agents and investors – both old and new.  When investing, it is important to consider all your assets when completing your tax return. Assets can include rental properties, shares, micro-investments like exchange traded funds (EFTs) and crypto assets. You need to declare the income you receive from investments such as dividends and rent, but also the capital gains tax (CGT) that occurs when the assets are ‘disposed’ of. CGT is not a separate tax and makes up part of your taxable income.Keeping accurate records will assist you in completing your tax return.For more information visit:ATO podcast - Tax inVoiceCapital gains taxTax time toolkit for investorsInvestments and assetsShares and similar investmentsATO podcast in your language

In this episode of Tax inVoice, podcast host David Jepsen is joined by Assistant Commissioner of Small Business Experience Andrew Watson to discuss tips on starting a new business, what tax and super obligations need to be met and the helpful resources available to all business owners.Your operations are considered a business activity if your work is planned, repeatedly conducted in a businesslike manner and undertaken with the intent of making a profit.To start your new business on the right foot, make sure to do research and plan out your approach. This will assist in deciding on a business structure, what records need to be kept and the best method to meet your tax and super obligations.The ATO has a number of resources available to assist new business owners and help them succeed in their new ventures.For more information visit:ATO podcast - Tax inVoice[RH1]Starting your own businessATO podcast in your language

George Montanez, Assistant Commissioner of the Phoenix and Evasion Program, joins Tax inVoice podcast host David Jepsen to talk about illegal phoenix activity, how it affects the Australian community and what the ATO is doing to disrupt illegal phoenix operators.Illegal phoenix activity occurs when a company is liquidated, wound up or abandoned to avoid paying its debts and tax obligations. In its place, a new company is started to carry on the same business activity without the debt.This creates an uneven playing field and puts businesses doing the right thing at a competitive disadvantage.Through the Phoenix Taskforce, the ATO and other federal, state and territory agencies are working together to detect, deter and disrupt illegal phoenix activity.If you know of or suspect phoenixing, you can make an anonymous tip off by completing the tip-off form, phoning 1800 060 062 or by emailing PhoenixReferrals@ato.gov.au.For more information visit:Illegal phoenix activityPhoenix TaskforceVideo: Protect your business from illegal phoenix activityFact sheet: Protect yourself against illegal phoenix activityMaking a tip offATO podcast in your language

Deputy Commissioner Matt Hay, Assistant Director Shanell Gadd and former Evergreen Program participant Kia Yeatman join Tax InVoice podcast host David Jepsen to talk about the ATO’s Evergreen recruitment program.The Evergreen program focuses on uplifting representation of Aboriginal and/or Torres Strait Islander peoples in the ATO. It combines on-the-job and formal training over a 12-month period, including two 6-month work rotations that give participants the opportunity to work in a variety of roles.Evergreen participants have support from a dedicated program manager, rotation team leaders and buddies. They are also offered a permanent position upon completion and provided opportunities for meaningful career progression.Throughout the program participants get to experience the different work types and careers options available as an ATO employee, while doing work that makes a difference. Positions are available in Albury, Canberra, Dandenong, Geelong, Gosford, Newcastle, Townsville and Traralgon. For more information visit:The Evergreen ProgramHear from recent Evergreen Program participantsApply for the Evergreen Program[JS1]ATO podcast in your language

Assistant Commissioners Michael Morton and Peter Holt join Tax InVoice podcast host David Jepsen to talk about the shadow economy, what types of activities form the shadow economy and how it affects the Australian community. The shadow economy, also known as the cash economy or the black economy, refers to behaviour which involves under-declaring income, things like paying staff cash in hand or under the counter or sham contracting. Shadow economy behaviours also include trading in illicit tobacco, illegal drugs or counterfeit goods, ABN, GST, duty fraud and phoenixing.Small businesses and their tax agents can access the Reported transactions service on ATO Online platforms to view the third-party data that we hold on taxable payments, government grants and business transactions through payment systems. This provides transparency about the data that has been reported to the ATO about business income and supports small business owners to meet their tax obligations.As the shadow economy accounts for around $11 billion in lost revenue every year, if you know someone who is or suspect to be involved in shadow economy activities, you can make an anonymous tip-off by calling us on 1800 060 062 or visiting ato.gov.au/tipoff.For more information visit:Shadow EconomyMaking a tip offReported transactions in ATO onlineATO podcast in your language

Acting Assistant Commissioner for Digital Partnerships, Planning and Governance at the ATO, Mark Stockwell, joins Tax InVoice podcast host David Jepsen to talk about eInvoicing, the benefits for businesses and how to get started with eInvoicing. Mark also addresses some questions and myths about what eInvoicing is and isn’t, how it works and the ATO’s role in eInvoicing. eInvoicing is a new digital channel which allows businesses to exchange invoice information between a buyer's and supplier’s accounting systems, with the eInvoice automatically showing up in their accounting software. It also only applies to business to business and to government dealings.For more information visit:eInvoicingWhat is eInvoicing?If you have feedback or would like to suggest a topic, you can email us at podcast@ato.gov.au. We also have podcasts available in Arabic, Korean, Mandarin and Vietnamese.For more information, visit  ATO podcast - in your language.

In our first episode of Tax inVoice in 2022, Acting Assistant Commissioner of Superannuation and Employer Obligations Tracie Crowden joins us to talk about recent changes.Tracie explains what a stapled super fund is and what its introduction means for employers, their authorised representatives and employees. Tracie also covers some of the key features of the YourSuper Comparison Tool, which was introduced to help individuals decide which super product best meets their needs.For more information visit:Stapled super fundsYourSuper comparison toolStapled super funds for employers – Reference guideWebinar: Your Future Your SuperIf you have feedback or would like to suggest a topic, you can email us at podcast@ato.gov.au.

When Chris Jordan was appointed Commissioner of Taxation in 2013, he came in with a mandate to reinvent the organisation – to work more cohesively with tax professionals and business and improve the services provided to the community. He had a vision of a tax office that put taxpayers at the centre of everything it did, and he led the organisation on a change program that set about reinventing not only the systems and processes used to serve clients, but the culture of the organisation as well. When COVID-19 emerged in 2020, the ATO played a key role in the delivery of vital government stimulus to millions of Australians, a feat made possible largely because of the systems in place and the responsive and service-orientated culture of the staff.  In our latest episode, hear directly from Chris Jordan about his journey to the ATO, his experiences running a large service organisation and the legacy he intends to leave.Please enjoy our conversation with the Commissioner.

In this episode of the Tax inVoice podcast, hosts Julia Cook and David Jepsen are joined by Assistant Commissioner Jason Lucchese to explore Phase 2 of Single Touch Payroll (STP), what it means for employers and employees, key dates and how to prepare for the new changes. Links to information and resources mentioned in this episode can be found below: Working from home expenses - shortcut methodato.gov.au/homeato.gov.au/wfhStapled super fundsato.gov.au/stapledsuperfundDirector IDabrs.gov.au  ato.gov.au/directorIDSingle Touch Payroll Phase 2ato.gov.au/stp2ato.gov.au/stpresourcesmyGov and myGovIDato.gov.au/mygovwww.mygovid.gov.au/setupOther resourcesato.gov.au/supportato.gov.au/podcastlanguagesIf you would like to submit a question to be answered in a future episode of Tax inVoice, please send your question to podcast@ato.gov.au.

Episode 36 – Helping small businesses in taxing timesIn this episode of the Tax inVoice podcast hosts Sally Bektas and David Jepsen are joined by Assistant Commissioners’ Andrew Watson and Amy James-Velagic to explore topics to help small businesses get their tax right including: motor vehicle expenses; concessions; personal services income; and business losses. The hosts also have a chat with new COSBOA CEO Alexi Boyd.Links to information and resources mentioned in this episode can be found below: What’s New? ato.gov.au/motorvehicleexpensesato.gov.au/SBtaxtimetoolkitato.gov.au/concessionsataglanceato.gov.au/PSIDeep Diveato.gov.au/businesslossesato.gov.au/LCBeligibilityato.gov.au/losscarryback Off The Cuff with Alexi Boydcosboa.org.auMore informationato.gov.au/supportato.gov.au/bouncebackato.gov.au/depreciationincentivesato.gov.au/podcastlanguagesBeyond Blue - New Access for Small Business

Tune into our second episode of our 3-part Tax Time special for 2021.On today's show, we share the key things that tax professionals need to know about Tax Time 2021. We deep dive into best practice for registered agents with Greg Lewis, Board Member of the Tax Practitioners Board. Finally, Assistant Commissioner Sylvia Gallagher answers questions from our listeners.In what's making news Assistant Commissioner Sally Bektas and Senior Director David Jepsen cover off on the low and middle income tax offset, updates to the ATO app, working from home and Online Services for Agents instructional videos. In the Deep Dive, Sally and David chat with Greg about what agents can do to ensure they're following best practice. Greg is a board member at the Tax Practitioners Board. He's also a tax advisor who has extensive experience as a tax principle and partner. He has been a consultant in tax, a company director, chairman, and committee member of various organisations, both public and private. He's a consultant and consults with a range of technical and strategic matters. Finally, Sylvia will answer questions from our wonderful audience. These questions include what pressures the tax profession is facing, what support the ATO has to offer and where our listeners can go to get more information. Website links ato.gov.au/tpsupportato.gov.au/app ato.gov.au/tpeducationseriesTPB.gov.au

Welcome to the first episode of our 3-part Tax Time special for 2021. In this episode we welcome our two new co-hosts, Assistant Commissioner Sally Bektas and Marketing and Communications Director David Jepsen as well as a brand new podcast format. On today's show: we’ll be sharing the key things you need to know about Tax Time 2021; we’ll dive deep into rental properties with Senior Director Peta Lonergan; and we’ll go off the cuff with Assistant Commissioner Tim Loh, the ATO’s new tax time spokesperson.

Serious financial criminals deceive, cheat and steal from everyday Australians. Join Emily Webb, crime author and co-host of the Australian True Crime Podcast, ATO Deputy Commissioner and SFCT Chief Will Day, and Dr Rick Brown, Deputy Director of the Australian Institute of Criminology as they discuss the impacts that serious financial criminals and their crimes have on our community. Visit Serious Financial Crime Taskforce for more information. 

In this second episode of our two-part Tax inVoice Podcast series on the government’s JobMaker Plan, Assistant Commissioners Amy James-Velagic and Kasey Macfarlane are joined by Judy O’Connell, Commissioner of the Victorian Small Business Commission. They discuss temporary full expensing and loss carry back, including eligibility criteria, interactions with other economic recovery measures and how to claim.For more information visit the temporary full expensing and loss carry back . 

In this first episode of our two-part Tax inVoice Podcast series on the government’s JobMaker Plan, Deputy Commissioner of the Economics Stimulus Branch James O’Halloran is joined by Judy O’Connell, Commissioner of the Victorian Small Business Commission.  They discuss the JobMaker Hiring Credit, including the eligibility criteria for employers and employees, and what employers need to do to access the scheme. For more information visit JobMaker Hiring Credit.