Australia: Draft legislative instruments on filing requirements for 2024 returns
Consultation for both draft legislative instruments close on 9 April 2024.
Consultation for both draft legislative instruments close on 9 April 2024.
The Australian Taxation Office (ATO) released two draft legislative instruments for comment that specify which persons are required to file an income tax return for the 2024 year.
- LI 2024/D2 Taxation Laws (Requirement to Lodge a Return for the 2024 Year) Instrument 2024: This instrument specifies which persons are required to file an income tax return for the income year, and when a return must be filed. It also deals with filing requirements for:
- Franking account returns
- Venture capital deficit tax returns
- Not-for-profit (NFP) self-review returns
- Ancillary fund returns
- Trustees of self-managed superannuation funds
- LI 2024/D3 Income Tax Assessment (Requirement for Parents with a Child Support Assessment to Lodge a Return for the 2024 Year) Instrument 2024: This instrument requires certain liable and recipient parents under a child support assessment to file an income tax return for the income year by the due date specified in the instrument.
Consultation for both draft legislative instruments close on 9 April 2024.
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