Practice Update December 2023
Practice Update December 2023 covers following points: ATO’s lodgment penalty amnesty is about to end Notice of officeholder data-matching program ATO warning regarding prohibited SMSF loans Don’t forget the two further ‘boosts’! Claiming deductions in relation to a holiday home Reminder of December 2023 Quarter Superannuation Guarantee (‘SG’) Click here for Practice Update December 2023
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Practice Update November 2023 covers following points: Tax issues for businesses that have received a support payment Care required in paying super benefits Notice of visa data-matching program ATO says: “Be cyber wise, don’t compromise” Losses in crypto investments for SMSFs Click here for Practice Update November 2023
Read MorePractice Update October 2023
Practice Update October 2023 covers following points: Taxpayers need to get their ‘rental right’ Choosing the right PAYG instalment method Mildura man jailed for seven years for GST fraud Remember the unused concessional contributions cap concession Deduction for contributions denied due to notice requirement problems Click here for Practice Update October 2023
Read MorePractice Update September 2023
Practice Update September 2023 covers following points: Appointing an SMSF auditor ATO gives ‘green light’ to lodge Different meanings of ‘dependant’ for superannuation and tax purposes NALI provisions did not apply to loan structure Luxury car tax: determining a vehicle’s principal purpose Click here for Practice Update September 2023
Read MorePractice Update August 2023
Practice Update August 2023 covers following points: Claiming GST credits for employee expense reimbursements Lodging of Taxable payments annual reports Changes to deduction this tax time Downsizer contribution measure eligibility has been extended Reallocation of excess concessional contributions denied Click here for Practice Update August 2023
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Practice Update July 2023 covers following points: Court penalises AMP $24 million for charging deceased customers The super guarantee rate is increasing Minimum annual payments for super income streams Know your private company loan arrangements before you lodge Proportional indexation of transfer balance caps from 1 July 2023 Masters course fees not deductible as self-education…
Read MorePractice Update June 2023
Practice Update June 2023 covers following points: 2023/24 Budget Update In the ATO’s sights this Tax Time ATO advice regarding year-end trustee resolutions ‘Side hustles’ in the ATO’s sights ATO ride sourcing data-matching program Click here for Practice Update June 2023
Read MorePractice Update May 2023
Practice Update May 2023 covers following points: Last chance to claim deductions under temporary full expensing Residential investment property loan data-matching program Electric vehicle home charging rates: cents per km Taxpayers not carrying on an agistment business Know the rules for accessing superannuation Click here for Practice Update May 2023
Read MorePractice Update April 2023
Practice Update April 2023 covers following points: New 15% super tax to apply from 1 July 2025 Start thinking about your FBT obligations FBT exemption for electric cars Tips to reduce study and training loan balances Reminder of March 2023 Quarter Superannuation Guarantee (‘SG’) Click here for Practice Update April 2023
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Practice Update March 2023 covers following points: Significant change to claiming working from home expenses Transfer balance cap indexation ATO and Australian Federal Police crackdown on GST-fraud promoters Click here for Practice Update March 2023
Read MorePractice Update Nov 2022
Practice Update November 2022 covers following points: Director ID deadline is approaching Why are credits and refunds being offset ATO advice for SMSFs thinking about investing in crypto assets Check that holiday employees get the right super Optus data breach Click here for Practice Update November 2022
Read MorePractice Update June 2022
Practice Update June 2022 covers following points: ATO priorities this tax time Avoid double dipping on your deductions Get ready for super changes from 1 July 2022 ATO to start clearing backlog of ENCC release authorities ATO warns about GST fraud Employers need to prepare for changes under STP expansion Click here for Practice Update…
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