Here is our September 2018 edition of Client Alert, which contains information on a number of important taxation developments:
- Super sector must address trust deficit - ASIC Chair James Shipton says the superannuation sector must be more mindful of the responsibilities that come with being the custodians of other people’s money.
- Call to boost instant asset write-off to $100,000 - Australian Small Business and Family Enterprise Ombudsman Kate Carnell has called for the instant asset write-off for small businesses to be embedded in legislation and extended.
- Tax return required for excess super non-concessional contributions - The ATO reminds that taxpayers need to lodge a tax return for any financial year they exceed the non-concessional contributions cap, and may have to pay extra tax.
- First Home Super Saver scheme: ATO guidance - The ATO has issued new guidance on the the First Home Super Saver (FHSS) scheme, which is now operational.
- ATO targeting car sharing platforms - Some people undertaking car sharing activities using third-party platforms might not understand the taxation implications involved.
For more information on any of these topics please click on the link below
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