As the year flies by, here is our Tax Newsletter for October. This month we discuss:
- ATO sets its sights on undisclosed foreign income – The ATO is reminding taxpayers about their obligation to report foreign income, and it’s keen to emphasise that its techniques for detecting offshore amounts are becoming increasingly effective.
- ATO announces “Better as Usual” program to improve your experience – The ATO has announced the launch of “Better as Usual”, a new four-part program aimed at improving the client experience with the tax system.
- Salary sacrificing loopholes: are you receiving your full benefits? – Salary sacrifice strategies are a great way to boost retirement savings, but unwelcome loopholes in the law mean some workers may be getting less than they bargained for. Fortunately, new proposed laws represent action to fix this.
- Claiming work trips for business owners – Business owners can deduct the cost of work trips they need to take for business. But what happens when you mix business with some hard-earned time for relaxation?
- Thinking about setting up an SMSF? – For many people, SMSFs are a great option for building retirement savings, but they may not be suitable for everyone
For more information on any of these topics, please click on the link below:
October Tax Newsletter
If you have any further questions, please call us on 02 9580 3353