25 August 2025 to 29 August 2025
Weekly Bulletin Contents
TAX
Monday 8 September 2025
ATO: Feedback sought on remission of interest and failure to lodge penalties
The ATO is seeking feedback on its approach to remission of interest and failure to lodge penalties, lodgment and payment deferrals, and payment plans. The ATO said that it is looking to refresh its approach so that its settings are clear, consistent and aligned to the legislative intent. It also said that it has developed 5 draft principles to clarify its position and support taxpayers and their representatives to understand how the ATO will make decisions into the future. These are as follows: fairness; conditionality; context; engagement and exclusions.
ART amendment Bill introduced
The Administrative Review Tribunal and Other Legislation Amendment Bill 2025 has been introduced into Parliament. It will amend the Administrative Review Tribunal Act 2024 to expand the circumstances in which the Administrative Review Tribunal may decide a matter without holding the hearing of the proceeding. The additional circumstance are:
- if it appears to the Tribunal that the issues for determination in the proceeding can be adequately determined in the absence of the parties to the proceeding;
- if it appears to the Tribunal that it is reasonable in the circumstances to make its decision in the proceeding without holding the hearing of the proceeding, and
- if the Tribunal has given the parties to the proceeding (other than a non-participating party) a reasonable opportunity to make submissions to the Tribunal in relation to the Tribunal making its decision without holding the hearing of the proceeding, and the Tribunal has taken into account any submissions received.
Note the Bill has been referred to the Senate Legal and Constitutional Affairs Legislation Committee for inquiry and report by 24 November 2025.
Taxpayer refused an extension of time to object to assessments
A taxpayer has been unsuccessful before the ART in seeking an extension of time to object to amended assessment. The taxpayer who ran nailcare businesses had been issued with the assessments in relation to large, unexplained deposits in his bank account. The Commissioner also claimed that he had systematically taken funds from his businesses for his personal use which were not declared and that he had refused to provide information and records to explain his activities. In dismissing the taxpayer’s application for an extension of time, the ART found that although he had a weak but arguable case (in relation to his claim that some of the amounts in dispute were loans etc), the lengthy and unexplained delays and the pattern of behaviour over a number of years outweighed the factors in favour of granting an extension. (Nguyen and FCT (Practice and procedure) [2025] ARTA 1662, 3 September 2025)
Tuesday 9 september 2025
Tax agent successful in overturning decision to cancel registration
A tax agent and his company have been successful before the ART in overturning the decision of the Tax Practitioners Board to cancel their registration. Broadly, their registration had been cancelled because of an employee’s unauthorized access of the “Online Services for Agents” portal and its use to fraudulently obtain GST refunds for himself. The ART found that while there had been certain breaches of the Code of Professional Conduct (but not, for example, the requirement to act lawfully in best interests of client) other non-compliance issues had been corrected. Accordingly, the ART agreed instead to impose a number of undertakings on the tax-agents, including full disclosure to clients of breaches and mandatory training. (Auz Taxation Pty Ltd and Tax Practitioners Board [2025] ARTA 1711, 5 September 2025)
Miner sentenced to jail for GST fraud
The ATO has advised that a West Australian man was sentenced to 7 years and 10 months imprisonment with a non-parole period of 5 years, for fraudulently obtaining over $1.13m in GST refunds. The person was the sole director of several mining companies that submitted 27 false BAS. The ATO said the outcome sends a clear message to anyone thinking of defrauding the tax system, and that this case was a calculated attempt to steal from the Australian community.
Exposure draft legislation on increasing WET rebate
The Government has released exposure draft legislation on proposals to increase the cap for the Wine Equalisation Tax (WET) producer rebate from $350,000 to $400,000 from 1 July 2026 has been released. Comments due by 22 September 2025.
Wednesday 10 september 2025
TPB terminates registration of managing partner at PwC
Tax Practitioners Board (TPB) has advised that it has terminated the tax agent registration of a managing partner at PricewaterhouseCoopers (PwC) Australia following an investigation into his conduct. It has also prohibited him from applying for registration as a tax agent for a period of 4 years. The TPB’s investigation revealed that he was notified that PwC personnel who reported to him would be engaged in confidential consultation with Treasury during the period 2013 to 2017. At this time, he had responsibility for the supervision of the firm’s senior partners and overall responsibility for the culture and procedures of PwC’s Tax and Legal Services division.
NSW land tax: Indefinite extension of build-to-rent concessions
The NSW Government has introduced the Land Tax (Build-To-Rent Concessions) Amendment Bill 2025 (NSW) into Parliament. It will extend tax cuts to boost new build-to-rent homes. The measures mean that owners of an eligible new build-to-rent development will be able to access a land tax concession indefinitely, rather than the previous end date of 2039. This ongoing program provides a 50% reduction in the assessable land value of eligible build-to-rent properties. There is no cap on the number of years owners can apply for the concession. Eligibility requirements include that construction have commenced on or after 1 July 2020 and the building has not been used for any other purpose. See also Treasurer’s media release here.
Australia-NZ: Multilateral Convention re Profit Shifting
The ATO has issued the “Memorandum of Arrangement on the Implementation of Part VI of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting between the Government of Australia and the Government of New Zealand”.
Thursday 11 september 2025
GST Determination: supplies or acquisitions of multi-media products
The A New Tax System (Goods and Services Tax) (Application of Intermediary Arrangements to the Multi-Media Industry) Determination 2025 has been made. It specifies that supplies or acquisitions of multi-media products are taken to be supplies or acquisitions to which s 153-50 arrangements of the GST Act apply. Intermediaries and principals who are involved in making supplies and acquisitions of multi-media products are taken to have agreed to adopt the s 153-50 arrangements. The Determination commences on 10 September 2025.
GST Determination: Collecting for copyright owners
The A New Tax System (Goods and Services Tax) (Attribution Rules – Supplies and Acquisitions Relating to Collecting Societies) Determination 2025 has been made. It alters some of the basic attribution rules in Div 29 of the GST Act for supplies and acquisitions made by collecting societies and copyright owners. Specifically, it alters the attribution rules for: GST payable by collecting societies on taxable supplies they make to copyright owners; GST payable by copyright owners on taxable supplies they make to third parties; and input tax credits for creditable acquisitions made by copyright owners. It commences on 10 September 2025.
Consultation to proposed amendments to the PRRT Act
Treasury is seeking consultation to proposed amendments to the Petroleum Resource Rent Tax Assessment Act 1987 to allows the Commissioner of Taxation to treat a new project as a continuation of an earlier project, where reasonable. Treasury is wanting feedback on priority issues for the measure, including: how the ATO administers it; whether the public needs advice and guidance to understand it; and what form this advice and guidance takes.
Income tax regulations for ITAA 1936 remade
The Income Tax Assessment (1936 Act) Regulations 2025 have been made. They will remake and improve the operation of the Income Tax Assessment (1936 Act) Regulation 2015 before they ‘sunset’ on 1 October 2025. The Regulations repeal redundant provisions, simplify language and update existing rules and requirements to ensure they continue to operate in accordance with existing policy. They also prescribe certain matters relating to the tax treatment of income of certain Defence Force members and other prescribed persons. At the same time, the Treasury Laws Amendment (Income Tax Assessment Repeal and Consequential Amendments) Regulations 2025 make consequential amendments to support the remake of the 2015 Regulations. Both sets of regulations commence on 1 October 2025.
FRIDAY 12 september 2025
Tax Ombudsman: Debt interest under investigation
The Tax Ombudsman has advised that it is conducting a review of how the ATO manages the interest on unpaid tax debt, with the community encouraged to have their say. The Ombudsman is especially interested in looking at where taxpayers seek to have their interest charges reduced or removed (remitted) from their account when seeking to pay their tax debts. The Tax Ombudsman, Ruth Owen, said the remission of debt interest charges was a hot topic, with her office receiving 134 complaints last financial year about the ATO’s approach and that she has heard complaints about a general lack of consistency and transparency in the ATO’s approach.
ASIC determination: financial service warnings
The ASIC Corporations (Financial Services Guide, General Advice Warning & Advertising Related Relief) Instrument 2025/234 has been made. It continues relief granted and provides the following relief until 1 October 2030: an exemption for financial product issuers from the requirement to hold an AFS)licence; an exemption for AFS licensees from the requirement to give a Financial Services Guide (FSG) and a general advice warning in certain situations; an exemption for an AFS licensee and their representatives from the requirement to give a general advice warning for oral advice if conditions are met; and an exemption from the requirement to give an FSG for certain financial services and extension of the circumstances in which an AFS licensee and their authorised representative may make available website disclosure.
ATO: TPAR for courier and road freight services
The ATO has released information to help you work out if you need to complete a Taxable payments annual report (TPAR) if your business paid contractors to provide courier or road freight services. The information includes: what are courier services? what are road freight services? payments to report in your TPAR; and what information to report in your TPAR.
SUPER & FINANCIAL SERVICES
Comfortable retirement now costs over $75k per year for couples
The cost of a comfortable retirement has risen to $75,319 per year for couples and $53,289 for singles, according to the latest ASFA Retirement Standard. The update reflects growing pressure on retiree budgets from private health insurance, electricity, and fresh food costs.
A major shift this quarter is the inclusion of digital connectivity as a core budget item. Retirees are now spending $58 per week on tech at the comfortable level, covering smartphones, streaming subscriptions, and high-speed internet.
ASFA notes that modern retirees are tech-savvy and expect the same level of digital access they had during their working lives. While cost-of-living pressures are rising, ASFA emphasised that superannuation remains critical for financial security and lifestyle quality in retirement.
ASIC extends relief for financial advice disclosure and advertising
ASIC has extended relief for general advice advertising and disclosure obligations through Instrument 2025/234, now effective until 1 October 2030.
Under the new rules, product issuers can advertise general advice without holding an AFS licence, but must include a statement prompting consumers to consider whether the product is appropriate for them. This aims to balance regulatory relief with informed decision-making by consumers.
AFS licensees are also exempt from providing a Financial Services Guide (FSG) and general advice warning when giving general advice in advertisements, so long as similar conditions are met – including a prominent warning that the advice does not consider personal circumstances.
Additional relief applies in certain cases:
- Oral general advice can omit the full general advice warning if a simplified verbal disclaimer is given.
- FSGs are not required when licensees provide general advice as part of an expert report prepared for another entity (eg, a market analysis in a prospectus), or when arranging the issue of a product via an intermediary authorisation eg, a broker facilitating a bond sale. However, strict conditions around context and content must be satisfied.
- Website disclosure may replace a traditional FSG when the advice is limited to financial product advice or related dealing.
These changes aim to reduce compliance obligations in lower-risk advice contexts.
APRA: Superannuation industry hits $2.68 trillion in member assets
APRA’s latest infographic summarising the June 2025 quarter highlights the ongoing expansion of Australia’s super system – now totalling $2.68 trillion in member assets across 23.3 million accounts and 895 products.
Product Type | Assets ($) | Member Accounts |
MySuper | $1.13 trillion | 14.9 million |
Choice | $1.44 trillion | 7.7 million |
Defined Benefit | $141 billion | 0.7 million |
Choice segment: Funds shifting to retirement phase
Choice Product Type | Assets ($) | Member Accounts |
Accumulation | $883 billion | 6.3 million |
Transition to Retirement | $16 billion | 0.1 million |
Retirement | $512 billion | 1.4 million |
Average member balances
Product Type | Average Balance |
MySuper | $76k |
Choice accumulation | $140k |
Choice transition to retirement | $246k |
Choice retirement | $377k |
Defined benefit | $201k |
Reminder: Lodge Your Quarterly TBAR by 28 October 2025
The ATO has published a reminder to lodge Transfer Balance Account Reporting (TBAR) by 28 October. A TBAR lodgment is necessary if your client’s SMSF had a TBAR event in the September 2025 quarter. A TBAR lodgment is not necessary if no transfer balance account events occurred during the quarter.
Failure to lodge on time may lead to compliance action, penalties, and adverse effects on members’ transfer balance accounts.
For further details, see the ATO’s When to lodge a transfer balance account report for SMSFs page.