NEWS

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.

3RD JUN 2024

This month’s edition of the monthly tax update includes information on ATO's three focus areas this tax time, End of financial year obligations for employers, Getting trust distributions right, Support available for businesses experiencing difficulties, Minimum yearly repayments on Division 7A loans and ATO issues notice of crypto assets data-matching program. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

2ND MAY 2024

The May edition of the monthly tax update includes information on Government warns of ‘malicious’ myGov scammers, What to know about disaster relief payments, Illegal early access to super, ATO issues warning about false invoicing arrangements, NFPs need to get ready for new return and Taxpayer unsuccessful in having excess contributions reallocated. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

4TH APR 2024

This month’s edition of the monthly tax update includes information on How to claim working from home expenses, Reminder of March 2024 Quarter Superannuation Guarantee (‘SG’), Using the ATO's small business benchmarks, Quarterly TBAR lodgment reminder, Prepare for upcoming lodgments of SMSF annual returns, Taxpayer who lived and worked overseas found to be tax resident and Earning income for personal effort. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.

4TH MAR 2024

The March edition of the monthly tax update includes information on Super contribution caps to rise, Small business concessions, FBT time is fast approaching, Jail sentence for fraudulent developer, Penalties soon to apply for overdue TPARs and Avoiding common Division 7A errors. Please contact us if you wish to discuss how the points raised in this month’s monthly tax update specifically affect you.