ATO dusts off the “lifestyle asset” microscope
If you own a marine vessel, perhaps a thoroughbred horse or two, have a piece of fine art hanging on a wall, high value motor…
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Read MoreATO dusts off the “lifestyle asset” microscope
Limited options to access your super early
There are very limited circumstances when you can access your superannuation savings earlier than when you meet what the ATO calls a “condition of release”…
Damage or destruction of a rental property
What happens if your property is damaged from the results of a natural disaster, or by tenants? Such a situation can affect the types of…
More banking royal commission reforms become law
Legal changes just passed by Parliament require mortgage brokers to act in the best interests of consumers when providing consumer credit assistance or face much…
GST obligations now come under the director penalty regime
The Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 received assent on 17 February 2020. The legislation includes a range of measures targeting illegal phoenixing…
Selling taxable Australian property? You may need a clearance certificate from the ATO
If an Australian resident is considering selling property, they should apply for an ATO clearance certificate. If a property vendor does not apply for a…
Client Newsletter – March 2020
ATO dusts off the “lifestyle asset” microscope If you own a marine vessel, perhaps a thoroughbred horse or two, have a piece of fine art…
Regulatory Roundup – March 2020
Increasing maximum SMSF members to six is still official policy The SMSF Association held its annual conference recently, which was addressed by Assistant Minister for…
What you need to know about the First Home Super Saver scheme
The First Home Super Saver (FHSS) scheme was introduced a couple of years ago with an aim to reduce pressure on housing affordability. The scheme…