Allowing catch-up concessional superannuation contributions
15 Nov 2016
On 15 September 2016, the Government announced that this measure will commence from 1 July 2018. Individuals with superannuation balances of $500,000 or less will be allowed to access their unused concessional cap space to make additional concessional (before-tax) contributions. Individuals will be able to access their unused concessional contributions cap space on a rolling […]
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What attracts the ATO’s attention
07 Nov 2016
To help you get things right, you should consider the behaviours, characteristics and tax issues that attract the ATO’s attention. The ATO have published this information below as the behaviours and characteristics that may attract their attention: tax or economic performance is not comparable to similar businesses low transparency of your tax affairs large, one-off […]
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Holiday homes
01 Nov 2016
If you own a holiday home you can only claim tax deductions for expenses to the extent the home is rented out or genuinely available for rent. Even if you don’t rent it out, there are capital gains tax implications when you sell it. Holiday homes – not rented out If you own a holiday […]
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Small business mental health initiative
16 Oct 2016
The ATO have been talking to the small business community to better understand how they can support small business owners who may be experiencing mental health issues. If you are a small business and experiencing mental health issues, there are a few options available to help. You can: submit a request for hardship priority processing […]
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