We share some Tips to reduce study and training loan balances and provide a Reminder of March 2023 Quarter Superannuation Guarantee obligations.
This month we look at New 15% super tax that will apply from 1 July 2025. We also remind you to start thinking about your FBT obligations and discuss the FBT exemption for electric cars.
We share some Tips to reduce study and training loan balances and provide a Reminder of March 2023 Quarter Superannuation Guarantee obligations. This month we look at the Significant change to claiming working from home expenses. You should talk to your accountant to understand how these changes may impact you.
We also look at the Transfer balance cap indexation; and we learn about ATO and Australian Federal Police crackdown on GST-fraud promoters. This month we remind employers that the Super Guarantee is now 10.50% and we learn that the Electric vehicle FBT exemption legislation is now law.
We also explore the eligible age for Downsizer Contributions has reduced to 55 and discuss how a builder was unable to obtain a refund of incorrectly charged GST. This month we discuss the ATO's warning to SMSFs: "Paying the price for non-compliance"; ATO's record-keeping tips; and Input tax credits denied due to lodging BASs late.
We also discuss a Chef spending most of a year on cruise ships is still a "resident"; and Requesting staple super fund details for new employees. This month we discuss the approaching Director ID deadline; Why credits and refunds are being offset; and ATO advice for SMSFs thinking about investing in crypto assets.
We also discuss Checking that holiday employees get the right super; and the Optus data breach. This month we discuss Banking business income to a private account; "Talking tax" with new workers; and How the myGov update affects taxpayers.
We also look at Input tax credits denied due to lodging BAS's late; Valuing fund assets for a SMSF's annual return; Super guarantee contribution due date for September 2022 quarter; and Varying PAYG instalments. This month our newsletter discusses Tax-free COVID-19 business grants; and the ATO reminds trustees of a SMSF to appoint an approved SMSF auditor.
The YourSuper comparison tool has released the latest findings on MySuper products; Small business tax incentives are back on the table; and we look at Rental properties and second-hand depreciating assets. This month our newsletter has a Tax Time focus on rental property income and deductions and we look at a recent case when an Independent Contractor was entitled to superannuation support by the employer.
We also discuss Discretionary trusts and corporate beneficiaries; and the Pandemic Leave Disaster Payment has been reinstated until 30 September 2022. This month our newsletter focuses on the ATO priorities this tax time; Avoid double dipping on your deductions; and Getting ready for super changes from 1 July 2022.
We also discuss the ATO is starting to the clear backlog of ENCC release authorities; ATO warns about GST fraud; and Employers need to prepare for changes under STP expansion. This month our newsletter focuses on No reduction in the Private Health Insurance rebate; and Disclosure of business tax debts.
We also look at a recent case where the High Court rejects attempt to disclaim interest in trust distributions. |
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March 2024
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