As tax practitioners we have always tried to look after our clients by seeking extensions for late lodgements where required –  and historically these were usually granted.

But we have received repeated warnings in the last 6-12 months from the ATO that the same level of leniency from the ATO will be a thing of the past.  That’s also why we have always reached out to our clients months before due dates arise as a reminder that ATO commitments are coming up.

So if we reach out, please take it seriously, because we can no longer rely on the ATO providing the same extensions as has been the case previously.

The post You Can No Longer Rely on an ATO Extension appeared first on Mark Accountants.

• approved SMSF auditors (and SMSF trustees – if they hold an ABN).
• businesses and their owners.
• not-for-profits.
• other organisations.

Logging in to Online services to business

• how to log in
• setting up your permissions

Home Page Functions (including)

• Account Header
• Menu
• Notifications
• Items for Action  
• Quick Links
• Feedback
• More Information
• Help Links

Account and Payments

• view your accounts
• payment plans and options
• transfers
• refunds

Lodgements

• Income Tax Returns
• BAS
• and over a dozen other lodgement items

Employees Menu

Used by businesses to manage most employer obligations, including

• registrations
• annual PAYG withholding reports
• TFN declarations
• STP functions
• Superannuation functions

Communication with the ATO

• secure mail
• lodging Tax Return amendments
• communication history

Profile Menu

Used by businesses to manage their business details with the ATO, including

• business details
• business addresses
• email addresses
• authorised contacts
• Registered Agents details
• associates
• financial institution details
• card details
• add, update or cancel a tax type
• SMSF auditor details

Of course, if you don’t want to go it alone, or you are worried about getting it wrong, use the services of a registered tax agent. This is the best way to ensure that your lodgements are not only made on time, but are both correct and compliant.

The experienced team at Accountplan have been helping client of all sizes get it right for almost 40yrs. For peace of mind call us on 07 3883 8999.

The post ATO Online Services for Business – User Guide appeared first on Mark Accountants.

Most current outgoings, such as salaries, rent, leases, phone and power are generally paid in manageable instalments. However, when it comes to business insurance and Workcover premiums, many insurers expect you to pay their premium in one lump sum – which can be a significant strain on cash flow. Insurance Premium Finance (funded through Westpac) can assist you by allowing you to make equal instalments over a period of up to 12 months.

Insurance Premium Finance can help you take back control of your finances by:

• Reducing the working capital impact on your business by providing you with an option to repay over a 12 month period.
• Providing certainty of repayment amounts up front with a fixed rate product.

Plus, the Finance costs may be tax deductible

Key Dates

• 1 July 2026: Workcover renewal season commences. From this date onwards businesses can go online or call Workcover to declare their wages and pay their premium(s).
• 31 August 2026: Wage Declarations are due.
• 16 September 2026: Deadline to qualify for 3% discount on premiums paid in full to WorkCover.
• 30 September 2026: All WorkCover premiums due.

The post Insurance Premium Finance for WorkCover appeared first on Mark Accountants.

Trustees and beneficiaries

The trustee is responsible for managing the trust’s tax affairs, including registering the trust in the tax system, lodging trust tax returns and paying some tax liabilities.

The beneficiaries include their share of the trust’s net income in their tax returns and may need to pay instalments on their expected tax liability through the pay as you go (PAYG) instalment system.

Special rules apply to closely held trusts or where a beneficiary is a non-resident.

If a trust is carrying on a business, the trustee may have employer obligations.

Registration

A trust should have its own tax file number (TFN), which the trustee uses in lodging income tax returns for the trust. A trust is also entitled to an Australian business number (ABN) if the trust is carrying on an enterprise.

The trustee registers for the trust’s TFN and ABN in their capacity as trustee. This registration is separate from any registration the trustee may require for other capacities they may act in, including acting on their own behalf.

All trusts will automatically have ‘The Trustee for…’ added to the name of the trust when the ABN is registered, as the trustee is responsible for the tax obligations of the trust.

PAYG instalments

Trusts are not liable to pay PAYG instalments. Instead, the beneficiaries (or the trustee when assessed on their behalf) may have to pay instalments based on their share of the trust’s instalment income.

Non-resident withholding tax

If a non-resident beneficiary is presently entitled to dividends, interest or royalties included in the trust income, the trustee must withhold tax and remit it to the ATO. The trustee may need to lodge a PAYG withholding from interest, dividend and royalty payments paid to non-residents – annual report.

Tax returns

A trustee is required to lodge a trust income tax return, regardless of the amount of net income involved, unless we advise that a return is not required.

If the trustee is liable for tax they will receive an income tax assessment as trustee that is separate to their own assessment as an individual or corporate tax entity.

Beneficiaries generally include their share of the trust’s net income in the partnership/trust distributions section of their tax return.

Closely held trusts – withholding and reporting

The following additional requirements apply to trustees of closely held trusts.

Tax file number (TFN) withholding

The trustee of a closely held trust, including a family trust, must withhold tax from payments to beneficiaries who have not provided their TFN to the trust.

Trustee beneficiaries

The trustee of a closely held trust (other than a family trust) with one or more trustee beneficiaries who are presently entitled to a share of the income or a tax-preferred amount (or both) of the trust must provide us with certain details of the trustee beneficiaries.

Trustee beneficiary non-disclosure tax

This tax is payable if:

• the trustee of a closely held trust (other than a family trust) fails to lodge a correct trustee beneficiary (TB) statement within the specified period in respect of each trustee beneficiary’s share of net income, or
• a share of the net income of a closely held trust (including a family trust) is included in the assessable income of a trustee beneficiary under section 97 of the Income Tax Assessment Act 1936 and the trustee of the closely held trust becomes presently entitled to an amount that is reasonably attributable to the whole or a part of the untaxed part of the share (referred to as a ’round robin’ or ‘circular trust distribution’).

If the trustee of a closely held trust is liable for trustee beneficiary non-disclosure tax, the trustee beneficiary’s share of net income is not included in their assessable income under section 97 (except where the share of net income is assessable under sections 99, 99A and 99B).

Employer obligations

If a trust employs people, the trustee will have employer obligations, including pay as you go (PAYG) withholding, paying super contributions for any eligible employees and reporting and paying tax on fringe benefits.

Source: ATO

The post Trusts – Registering and Reporting for Tax appeared first on Mark Accountants.

Trusts

Trusts are widely used for investment and business purposes.

A trust is an obligation imposed on a person or other entity to hold property for the benefit of beneficiaries. While in legal terms a trust is a relationship not a legal entity, trusts are treated as taxpayer entities for the purposes of tax administration.

Trustees

The trustee(s) (there may be more than one) of a trust may be a person or a company (the latter is known as a corporate trustee). In either case, the trustee must be legally capable of holding trust property in their own right. The trustee holds the trust property for the benefit of the beneficiaries.

Where the trust is established by deed (which in the case of a deceased estate is the will), the trustee must deal with the trust property in line with the intentions of the settlor as set out in the trust deed. They must also act in accordance with the relevant state or territory law regulating trusts, and with any other applicable law, including tax law.

Under trust law, trustees are:

• personally liable for the debts of the trusts they administer, and
• entitled to be indemnified out of the trust property for liabilities incurred in the proper exercise of the trustee’s powers (except where a breach of trust has occurred).

Under tax law, the trustee is responsible for managing the trust’s tax affairs, including registering the trust in the tax system, lodging trust tax returns and paying some tax liabilities.

Beneficiaries

A trust beneficiary can be a person, a company or the trustee of another trust.

The trustee may also be a beneficiary, but not the sole beneficiary unless there is more than one trustee.

Beneficiaries may have an entitlement to trust income or capital that is set out in the trust deed or they may acquire an entitlement because the trustee exercises a discretion to pay them income or capital.

Generally, the beneficiaries are taxed on the net income of a trust based on their share of the trust’s income – regardless of when or whether the income is actually paid to them.

Source: ATO

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