NEWS

1ST APR 2025

This April edition of the monthly tax update includes information on the ATO's new focus for small business, Reminder of March 2025 Quarter Superannuation Guarantee ('SG'), FBT record keeping and plug-in hybrid exemption changes, Taxable payments annual report lodgment reminder, Quarterly TBAR lodgment reminder, General transfer balance cap will be indexed on 1 July 2025, General transfer balance cap will be indexed on 1 July 2025 and ART rejects taxpayer's claim for CGT small business relief. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

3RD MAR 2025

This months edition of the monthly tax update includes information on How to master employer obligations in 2025, ATO's tips to help taxpayers stay on top of their BAS, Claiming fuel tax credits when rates change, ATO "busts" NFP myths, Taxpayer's claim for input tax credits unsuccessful and ATO's appeal against decision that UPEs are not "loans" fails. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

1ST FEB 2025

The January/ February edition of the monthly tax update includes information on CGT withholding measures now law, ATO debunks Division 7A 'myths', ATO's notice of rental bond data-matching program, What's new for Study/training loans, When to lodge SMSF annual returns and $13.6m in penalties imposed for false R&D claims. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

1ST DEC 2024

This month’s edition of the monthly tax update includes information on Can staff celebrations attract FBT?, Reminder of December 2024 Quarter Superannuation Guarantee ('SG'), ATO's tips for small businesses to 'get it right', SMSFs cannot be used for Christmas presents! Taxpayer's claims for various 'home business' expenses rejected ATO reminder about family trust elections. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

1ST NOV 2024

The November edition of the monthly tax updates includes information on Hiring employees for the festive season, Lodging and paying business activity statements ('BASs'), Deductions for financial advice fees, ATO's notice of government payments data-matching program, FBT on plug-in hybrid electric vehicles, Eligibility for compassionate release of superannuation and AAT rejects taxpayer's claims for work-related expenses. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

1ST OCT 2024

This month’s edition of the monthly tax update includes information on how to Avoid a tax time shock, Reminder of September Quarter Superannuation Guarantee ('SG'), myGovId changing its name to myID, ATO security safeguards for victims of fraud recently enhanced, Valuing fund assets for SMSFs and ATO's notices of data-matching programs. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

1ST SEP 2024

The September edition of the monthly tax updates includes information on Taxpayers can start lodging their tax returns, Business self-review checklist: GST classification of products, Receiving payments or assets from foreign trusts, Storing correct records for work-related expenses, Tax incentives for early stage investors and Penalties imposed on taxpayer who falsely amended tax returns. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

1ST AUG 2024

This month’s edition of the monthly tax update includes information on ATO's tips for correctly claiming deductions for rental properties, Notice of online selling data-matching program, Small business energy incentive available for the 2024 income year, Importance of good record keeping when claiming work-related expenses, SMSFs acquiring assets from related parties and Federal Court overturns AAT's tax resident decision. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

1ST JUL 2024

The July edition of the monthly tax update includes information on ATO's 'main residence exemption tips', Reminder of June 2024 Quarter Superannuation Guarantee ('SG'), Notice of Medicare levy exemption data-matching program, Family trust elections and interposed entity elections, ATO may cancel inactive ABNs, New lodgment obligation for income tax exempt organisations and Taxpayers able to apply CGT small business concessions. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.