new Reported transactions service can help you in 2022

ATO’s new Reported transactions service can help you

Small businesses and their tax agents can now view certain data the ATO receive about their business from third-party providers.

The new Reported transactions service includes data on:

  • taxable payments a contractor receives under the taxable payment reporting system
  • government grants received
  • payments received through an electronic payment system.

You can access the Reported transactions service on ATO Online platforms, such as Online services for business. You can then view data for the past four years and download it in either CSV or HTML format. Sole traders may also choose to view the data through Online services for individuals.

This service can help you (or your tax agent) meet your tax obligations and it provides transparency about the data we hold. You can also use the information as a cross-reference after account or tax return preparation.

The service also helps our efforts to combat the shadow economy and ensure a level playing field for all businesses.

Remember, registered tax agents and BAS agents can help you with your tax.

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RA Advisory provides accounting for small to medium businesses while also servicing your individual tax and financial needs.

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