The Australian Taxation Office proposes to retire 16 occupational and industry specific taxation rulings on the basis that the ATO’s views in these rulings are provided in Taxation Ruling TR 2020/1, the employee guide for work expenses and occupational and industry specific guides.
The specific occupation and industry rulings have existed since 1998 and tax practitioners are accustomed to them.
We have lodged a submission with the ATO on 30 September on the basis of feedback provided by members.
Many practitioners, particularly those in small practices, are exhausted from helping their clients implement JobKeeper whilst simultaneously trying to maintain their usual compliance work load and attending to the needs of extremely stressed clients. Now is not the time implement changes that affect members who are already feeling inundated. Practitioners need reassurance and stability in these unprecedented times.
If these changes are implemented then, communications about these changes will need to be carefully considered so that they do not add to work load or stress by being either too detailed or too vague. Those exhausted. ‘retail’ (high volume) agents who traditionally rely on the relevant tax rulings during Tax Time may feel particularly aggrieved.