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TAXATION

8 things to do during an ATO outage

August 2019

It’s unfortunate, but it happens. Practitioners have experienced a number of Australian Taxation Office (ATO) system outages or found ATO systems are slower than normal this tax time. Here are some tips from practitioners who’ve found productive ways to use the time.

  1. Roll your workpapers into the new tax year. This gives you the opportunity to think about matters such as depreciation, finance/interest calculations on asset purchases and leases, asset disposals, closing entries from last year, GST reconciliations, franking accounts and trust distributions.

  2. Look at client structures – ensure you have a diagram of the client structure (for example, trustee company or family trust), beneficiaries and directors of the trustee company. For companies, review the shareholdings, directors and classes of shares to ensure the structure is up-to-date and appropriate for the client’s circumstances.

  3. Have coffee with one of your employees or clients.

  4. Pick up the phone and call clients – yes, speak to them. You’d be surprised what you can learn from an off-the-cuff conversation.

  5. Do some training, refer to training notes, or have an impromptu training session and ask everyone in the team to bring an idea. Find some online training or discuss an article in INTHEBLACK.

  6. Make sure your website and social media content is up-to-date.

  7. Go through your emails.

  8. Spring clean the office – there will be jobs you have been putting off.