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Policy changes for Australian government contracts

Posted by Northadvisory on April 2, 2019

From 1 July 2019, government contracts worth over $4m (incl. GST) will require an ATO Statement of Tax Record (STR) to be attached to all tenders. The STR is required for all entities listed on the tender, and potentially some sub-contractors as well.

To be eligible for consideration in the tender process the contracting entity must have a satisfactory STR.

A satisfactory STR will be issued by the ATO from 1 July 2019 where you have:

  • all your registrations up-to-date, including ABN, GST and tax file numbers
  • lodged at least 90% of all income tax returns, fringe benefits tax returns and business activity statements on time within the previous four years, and
  • no outstanding debts to the ATO, or an outstanding debt less than $10,000 to the ATO.

ATO debts which are greater than $10,000 are excluded where a payment arrangement is in place with the ATO.

If your Company does not have, or will not be eligible for, a satisfactory STR, you will need to make other arrangements in dealings with government contracts.

If you require any further information, please contact Martin van der Saag of this office.

Martin van der Saag
Partner
T: 02 9984 7774
E: martinv@northadvisory.com.au