1 This specification replaces version 1.1 and is to be used by small investment bodies to prepare Quarterly tax file number and Australian business number (QTFN) reports from the third quarter of the 2015-16 financial year onwards. It is for those investment bodies that use PC based spreadsheet or database software packages to maintain investor details. It also contains instructions and guidelines for entering the information into a spreadsheet in a standard format and sending the report to the Australian Taxation Office (ATO). The specification is not intended to, nor does it provide a guide to the relevant legislation. If you are considering developing or updating QTFN reporting software, the Quarterly tax file number (QTFN) and Australian business number (ABN) report version 6.2.0 must be used in the development of the application. If the investment body has more than 1,000 investments the QTFN report will need to be lodged electronically. These investment bodies can refer to the the Quarterly tax file number (QTFN) and Australian business number (ABN) report version 6.2.0 to lodge the report. Lodging electronically will: reduce paperwork provide a secure way for reports to be lodged provide an online receipt when a report is lodged ensure that all of the necessary fields to lodge the report have been completed, via its checks, and be available 24 hours a day, 7 days a week. 2 On 1 July 2015, Division 393 of Schedule 1 of the Taxation Administration Act 1953 (TAA 1953) replaced regulation 55 of the Income Tax Regulations 1936. Under Division 393 of the TAA 1953, an entity defined as an investment body under section 202D of Part VA of the Income Tax Assessment Act 1936 (ITAA 1936), is required to report to the Commissioner of Taxation details of all Tax file numbers (TFN) and Australian business number (ABN) quotations by an investor in connection with investments falling within the
1 This specification replaces version 1.1 and is to be used by small investment bodies to prepare Quarterly tax file number and Australian business number (QTFN) reports from the third quarter of the 2015-16 financial year onwards. It is for those investment bodies that use PC based spreadsheet or database software packages to maintain investor details. It also contains instructions and guidelines for entering the information into a spreadsheet in a standard format and sending the report to the Australian Taxation Office (ATO). The specification is not intended to, nor does it provide a guide to the relevant legislation. If you are considering developing or updating QTFN reporting software, the Quarterly tax file number (QTFN) and Australian business number (ABN) report version 6.2.0 must be used in the development of the application. If the investment body has more than 1,000 investments the QTFN report will need to be lodged electronically. These investment bodies can refer to the the Quarterly tax file number (QTFN) and Australian business number (ABN) report version 6.2.0 to lodge the report. Lodging electronically will: reduce paperwork provide a secure way for reports to be lodged provide an online receipt when a report is lodged ensure that all of the necessary fields to lodge the report have been completed, via its checks, and be available 24 hours a day, 7 days a week. 2 On 1 July 2015, Division 393 of Schedule 1 of the Taxation Administration Act 1953 (TAA 1953) replaced regulation 55 of the Income Tax Regulations 1936. Under Division 393 of the TAA 1953, an entity defined as an investment body under section 202D of Part VA of the Income Tax Assessment Act 1936 (ITAA 1936), is required to report to the Commissioner of Taxation details of all Tax file numbers (TFN) and Australian business number (ABN) quotations by an investor in connection with investments falling within the
QTFN_PC_Spreadsheet_Final_v1.2.0_Clean.docx