ATO eLink 27/2010 (ATOB-1036) [SEC=UNCLASSIFIED]

Interpreting the notice of assessment (NOA) and statement of account (SOA) If your client receives a NOA with the note 'The result of this notice has been applied to your income tax account. Please see your statement of account for total amounts payable/refundable on your income tax account' at the bottom of the notice you must refer to the SOA. For more information, refer to: Notice of assessment for income tax fact sheet - explains changes to the format of the NOA and when a client would receive a SOA with their NOA Statement of account for income tax fact sheet - explains when clients would expect to receive a SOA and how to read it Notice of assessment and statement of account case study - explains how the SOA and NOA work together. Lodgment Program 2010-11 now available The Commissioner has endorsed the Lodgment Program 2010-11 for registered agents. The program is effective from 1 July 2010. This year's changes to the program are outlined in the 'What's changed' section of Lodgment Program 2010-11 - details of the program. Additional information to support the program is also available: Lodgment Program 2010-11 - managing your lodgment program Lodgment Program 2010-11 - additional time to lodge Lodgment Program 2010-11 - guiding principles Lodgment Program - glossary of terms. Lodgment due dates for tax agents If you are viewing 2010 lodgment due dates either in the Tax Agent Portal or on your electronic lodgment service (ELS) Client Lists some client records may be showing the legislative due date of 1 November 2010. Updates to reflect the lodgment program concessional due dates in our system will occur over a period of three weekends. This process commenced on 3 July and is expected to be completed by 19 July 2010. TFN withholding for closely held trusts The tax file number (TFN) withholding rules have been extended to closely held trusts, including family trusts. The rules received royal assent on 28 June 2010 and apply from a trust's first income year starting on or after 1 July 2010. They are designed to ensure that beneficiaries of closely held trusts include their share of the net income of the trust in their income tax returns. There are transitional arrangements to assist trustees to meet their TFN reporting obligations for the first income year of operation of the rules. For more information refer to TFN withholding for closely held trusts.

Tax Office focus for 2010-11
Tax Commissioner Michael D'Ascenzo released the Compliance program 2010-11, outlining refund fraud, the cash economy, employer obligations, wealthy Australians and tax secrecy havens as some top priorities for the ATO in the coming year.

Compliance program 2010-11
Outlines approaches, compliance risks and treatments for 2010-11.

A fair go for small business
Commissioner's keynote address to the Council of Small Business of Australia (COSBOA) Summit in Brisbane on 8 July 2010.

No tax surprises for Anglo American under new agreement with ATO
Anglo American Australia Limited and the ATO signed an Annual Compliance Arrangement (ACA) in relation to Anglo American's GST obligations.

Partnership tax return instructions 2010
For use by partnerships to assist with completion of 2010 tax returns.

Tax help for small business in the Sale region in Victoria
We invite small business operators to attend free one-on-one information sessions to help them stay on track with their tax and super obligations. Bookings are essential.

Lodgment program
Registered BAS agents are included in the lodgment program.

Keydates for tax agents - July
July key dates for tax agents.

Foreign exchange rates
List of daily, monthly and annual foreign exchange rates.

Free superannuation clearing house for small business through Medicare Australia
Information on the free clearing house service for small business, available through Medicare Australia from 1 July 2010.

Legal Database updates
The latest updates to the Legal Database.

Capital gains tax update 2009-10 income year
Update on the capital gains tax developments during the 2009-10 income year. Current as at 30 June 2010.

Division 7A essentials
This page provides updated fact sheets which explain legislative changes to Division 7A. These changes apply from 1 July 2009.

Capital allowances: completed effective life reviews
A list of depreciating asset effective life reviews that have been completed and the dates they took effect.

Trustee declaration
The Trustee declaration (NAT 71089) and the related fact sheet Self-managed super funds -key messages for trustees (NAT 71128) have been revised. Changes include ensuring that a legitimate condition of release has been met for payment of benefits and to notify us within 28 days of a fund being wound up.