Finance Tax Updates

The Finance team have the following tax updates that might benefit you Australian members.

Lodgement deferral function update

From 1 October 2023, the lodgement deferral function under the reports and forms menu in online services for agents will be the only way to request lodgement deferrals.  Support materials include – how to request a single or multiple deferrals at a time and a detailed instructions guide.

Small business technology investment boost questions

The ATO has published further guidance, including guidance on what is considered eligible expenditure for the boost and the key differences between the small business boosts and the small business energy incentive.

The following table helps distinguish the dates for the three measures:

Please speak to your Tax Agent to ensure that your store accurately identify and record eligible expenditure from the 2022, 2023 and 2024 income years to maximise boost claims.

The following table helps distinguish the dates for the three measures:

Please speak to your Tax Agent to ensure that your store accurately identify and record eligible expenditure from the 2022, 2023 and 2024 income years to maximise boost claims.