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ATO locks horns with Senate over JobKeeper disclosure order

The Tax Commissioner has refused to comply with a Senate order that would have revealed over 10,000 businesses that were on JobKeeper, arguing that it would violate taxpayer confidentiality and undermine public confidence in the ATO.

by | 15 Aug, 2021

ATO extends deadline for reviewing market-linked pensions

Commissioner of Taxation Chris Jordan has claimed public interest immunity against a Senate order that would have required the ATO to publish a list of businesses with a turnover of more than $10 million who were recipients of the JobKeeper wage subsidy.

Read more at Accountants Daily.

Budget highlights at a glance

Major Spending Initiatives
  • $36 billion in new spending 
  • $17 billion in personal tax cuts 
  • $8.5 billion in universal Medicare spending 
  • $5 billion for childcare 
  • 20% of student debt wiped for 3 million students 
  • $150 off power bills for all households and small businesses 
  • Prescription costs capped at $25 each 
              Economic Forecasts
              • Growth: 1.5% in 2024-25, rising to 2.25% in 2025-26 
              • Inflation: Expected to return to 2-3% band by June 2025 
              • Wage growth: Outpacing cost of living rises by 0.5% this year
                  Business Measures
                  • Non-compete clauses removed for workers earning under $175,000 
                  • $20 million “Buy Australian” advertising campaign 
                  • Incentives for construction and building worker apprentices doubled from $5,000 to $10,000 
                  • Uncertainty around the instant asset write-off scheme 
                  • Foreign investors restricted from buying new homes 
                          Budget Position
                          • Deficit: $27.6 billion in 2024-25, rising to $42.1 billion in 2025-26 
                          • Government spending as a percentage of GDP rising to 27% 
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