Payroll, super and FBT

Third-party reporting

Third-party reporting is the information that other organisations send to the ATO about transactions that may affect a taxpayer's tax or super, such as interest from banks, dividends, share sales, government payments and some business payments. The ATO uses it to pre-fill parts of tax returns and to check that income has been reported. Because the data is sent by someone else, it can be late, incomplete or mistaken, and the figures a tax professional sees in the ATO's records may differ from the client's own records. The professional reconciles the two before lodging and keeps a note of any difference and how it was resolved.

General information, not tax advice. The rules change, so check the source page above for the current position. Fedix is developed by Tax7 R&D Pty Ltd.