ATO warns: avoid ‘too good to be true’ tax schemes
29 Jul 2016
The ATO has today launched Project Super Scheme Smart, an initiative aimed at educating advisers and individuals about the potential pitfalls of retirement planning schemes. The program – which forms part of the ATO’s broader focus on tax avoidance schemes – provides targeted information for financial planners, accountants, and other advisers to help them identify, […]
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Introduce a lifetime cap on non-concessional superannuation contributions
27 Jul 2016
In the 2016-17 Budget it was announced that from 7.30pm (AEST) on 3 May 2016 there will be a lifetime cap of $500,000 on non-concessional superannuation contributions. The lifetime cap will take into account all non-concessional contributions made on or after 1 July 2007. The lifetime cap will be indexed to the Average Weekly Ordinary […]
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ATO warns against identity theft
22 Jul 2016
The ATO is reminding Australians to protect themselves against identify theft this tax time. Assistant Commissioner Graham Whyte said identity theft was more common during tax time because of the large number of people lodging tax returns. “With the amount of personal information being exchanged at tax time, it is a prime opportunity for fraudsters,” […]
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Zone tax offset
20 Jul 2016
Eligibility for the zone tax offset changed on 1 July 2015. From 1 July 2015, you can claim the zone tax offset if your usual place of residence was in a remote or isolated area (known as a zone) during the income year. If your usual place of residence was in a zone for less than 183 days […]
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