Clifford Gouldson Lawyers

Non-concessional contribution balances portal available soon

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A new online feature provided by the Australian Tax Office to make it easier for tax agents to request their clients' non-concessional contribution balances will come online later this month.

The ATO has advised that from late August the Tax Agent Portal will have a new portal mail topic called ‘NCC balance'.  Tax agents can use this mail topic to request the reported non-concessional contribution balances for their clients.

You will be able to request balances for a specific list of clients or for all clients. The new mail topic makes requesting and processing balances easier and quicker.  This will be very useful if the proposed reforms in relation to lifetime caps on contributions announced in the May budget are implemented.

This can be critical information for both accountants and our
Tax, Structures & Planning team when working co-operatively on clients' matters so any way accessing the information can be made more efficient is welcome.


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