SMSF – ATO finalises its position in relation to event-based reporting
15 Nov 2017
After detailed consultation with the self-managed super fund (SMSF) sector, the ATO announced today that its implementation of event-based reporting from 1 July 2018 will be limited to those SMSFs with members with total superannuation account balances of $1 million or more. Deputy Commissioner James O’Halloran said that this means that SMSFs whose members’ total superannuation balances are […]
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ATO – Help for drought-affected taxpayers
24 Oct 2017
Together with the Department of Agriculture and Water Resources, local, state and other federal government agencies – the ATO are offering help and support for Australians: experiencing hardship because of drought preparing for future drought conditions. If you’ve been affected by drought, the ATO can help by looking at your individual circumstances and working with […]
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CGT: Your main residence
23 Oct 2017
Your ‘main residence’ (your home) is generally exempt from capital gains tax (CGT). To get the exemption, the property must have a dwelling on it and you must have lived in it. You’re not entitled to the exemption for a vacant block. Generally, a dwelling is considered to be your main residence if: you and […]
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Don’t dodge when you lodge
15 Oct 2017
The Australian Taxation Office (ATO) is reminding taxpayers there are serious consequences if they choose not to meet their tax obligations this tax time. Assistant Commissioner Kath Anderson said most Australians want to do the right thing, but some refuse to pay their share, or pay at all. “In the first instance we always try […]
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