Client Newsletter – December 2020
Click here for a pdf version of this article. A run-down of the new loss carry back measure The last Federal Budget carried with it…
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GST and property settlement
The investment option that can hide unexpected GST New residential property is a popular investment for many, and can be especially so for self-managed superannuation…
ATO to allow extended time for minimum yearly repayments on Div 7A loans
In these COVID-19 times, concerns about Div 7A applying are understandable. Some borrowers are facing circumstances beyond their control, and even making the minimum yearly…
Client Newsletter – November 2020
What the “full expensing” write-off deduction means for business The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to…
ATO’s cyber safety checklist
Scammers never seem to rest, with even the lastest JobKeeper iteration coming in for some scam treatment. In a new update the ATO reports that…
2020 Federal Budget
Federal Budget 2020-21 Click here for a pdf version of this article. We all understand that budgets are an exercise in predicting the future. Given…
SMSF regulations to allow six members under new legislation
A bill has been introduced into Parliament that partially implements a measure to allow an increase in the maximum number of allowable members in self-managed…
SG penalty remissions: How not to trip up, post-amnesty
The ATO has published draft law administration practice statement PSLA 2020/D1 – remission of additional superannuation guarantee charge. With the SG amnesty now expired, so…
SMEs: ATO confirms JobKeeper payments do not contribute to aggregated turnover
From the outset, it has been emphasised that JobKeeper payments are assessable income. However some concerns had been raised as to JobKeeper payment status in…