Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
Payroll, compliance issues top dodgy practices in Aussie business
Employee travel expense deductions
The Goldilocks effect - Economic and market update 4Q 17
Tax assessments confirmed for undisclosed business income
Super returns on the up despite clients’ hesitation
Australia. All you need to know to be the expert.
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Articles
Pension Payment Minimums for 2010/11
3 Tax Time Checklists - Company, Individual and Superannuation Fund
Overseas Investment in Australia – Confusion reigns.
Bank Fees Dropping
Personal Credit Ratings – Part 2
Develop a more complete understanding of your financial position by using the Calculators / Financial Tools on this site.
Henry Report - a note on the Report's recommendations
Income Tax Assessment Process Still Struggling
2010-11 Commonwealth Budget
End of Tax Payment Concessions
Australian Taxation Office (ATO)
ATO new Notice of Assessments and Statement of Accounts
Australian Taxation Office (ATO)
Backlog in Processing Tax Returns.

The ATO introduced a new income tax processing system in January 2010 and is in the process of converting approximately 27 million taxpayer records, 331 million accounts and 282 million forms into their new system.

This change program involves a staged implementation of a new integrated core processing system to replace multiple systems that have been used to process registrations, forms, payments and accounting transactions.

Some of the major changes include changes to the notice of assessment to improve layout and a new statement of account for income tax.

Because of this switch, the ATO has a backlog of returns that were lodged in January 2010. The ATO expected to have this backlog cleared by the end of February 2010, but by end of March they were still struggling.

Even worse is the 140,000 assessments issued without refund cheques – this is not anything to do with your tax agent. 

We hope the ATO will be apologising profusely and paying interest.

 

 



14th-April-2010