We hope you are all doing well. Here is our September Tax Newsletter whichcontains information on new taxation developments :
· Single Touch Payroll update– From 1 January 2022, most employers will be required to send additional information through STP as part of Phase 2 of the rollout.
· Tax time 2021: rental property pitfalls– The ATO is again closelymonitoring tax deduction claims in relation to rental properties.
· New sharing economy reporting regime proposed– The government isseeking to legislate compulsory reporting for sharing economy platforms to more easily monitor taxcompliance and reduce the need for ATO resources.
· Reminder: super changes forthe 2021 financial year– Individuals aged 65 and 66can now access the bring-forward arrangement for non-concessional supercontributions, the excess contributions charge is removed, and individuals can now recontribute a COVID-19 super earlyrelease amount without hitting their non-concessional cap.
For more information on any of these topics, please click on the link below:
If you need any further information please contact us on 02 9580 3353