Advertise on podcast: Tax inVoice

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; online, by phone or in person at Tax Help centres across Australia.

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 lighting • the decline in value of office furniture and items used for work • internet and phone expenses • COVID-19 tests (if purchased for work related purposes) • personal protective equipment (PPE) if required for work and not provided by your employer.

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.

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.

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 [email protected].

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. 

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.

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.

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.

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.

ATO Assistant Commissioner Jason Lucchese talks about Phase 2 of Single Touch Payroll (STP) and the benefits for employers and employees, the changes, key dates, what employers can do to prepare and the support we have available.Other topics include the temporary 80 cent per hour shortcut method for calculating working from home expenses – which has been extended until 30 June 2022, the new Director Identification Number or Director ID, and Your Future, Your Super reform package, specifically, the stapled super fund rules, which commenced 1 November 2021. We also clarify the difference between myGov and myGovID. For more information refer to our show notes.

In this episode we look at topics to help small businesses get their tax right including: motor vehicle expenses; concessions; personal services income; and business losses. We also have a chat with new COSBOA CEO Alexi Boyd.