Accountants and other professionals have been in a state of “limbo” since the ATO suspended their previous guidelines in 2017. The ATO has finally released updated guidance in the form of PCG 2021/D2, although the new rules set to apply from 1 July 2021 have been met with universal alarm across the accounting profession at their severity and complexity.

Webinar summary

This webinar provides an overview of the following topics:

  • How the new rules differ from the ATO’s previous guidelines, including an explanation of the two Gateways, the traffic light zones and risk assessment scoring table
  • Common situations where the risk level may increase under the ATO’s new approach
  • Some recommendations offered up for ATO consideration since the PCG’s release

Presenter: Peter Bembrick, Tax Consulting Partner – HLB Mann Judd Sydney

Download Resources:

  • Click here to download the slides.
  • Click here to access the ATO’s PCG 2021/D2 – Allocation of professional firm profits – ATO compliance approach
  • Click here to access The Tax Institute response to the ATO’s PCG 2021/D2 – Allocation of professional firm profits – ATO compliance approach
  • Click here to access the Chartered Accountants response to the ATO’s PCG 2021/D2 – Allocation of professional firm profits – ATO compliance approach

We are here to help:

To learn about HLB Community Sydney and its benefits or if you have any questions regarding the presentation, please contact Executive – Professional Partnerships, Tony Dickins on 02 9020 4240 or at tdickins@hlbnsw.com.au.