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Tax saving strategies prior to 1 July 2020. A good strategy to reduce tax payable is normally to accelerate any income tax deductions into the current income year, which will reduce overall taxable income in the current year. A certified tax advisor can help with tax minimisation strategies and planning Tax Return Checklist: Claims for…

Practice Update June 2020 covers following points: JobKeeper Declaration Due 14 June ATO Reminder for Employers – Finalise STP Data for 2020 Guidance on JobKeeper Reporting via STP COVID-19 and Tax Depreciation Reports – are Physical Inspections Necessary? Click here for Practice Update June 2020

Practice Update May 2020 covers following points: Coronavirus: Government’s JobKeeper Payment Shortcut method to claim deductions if working from home SMSFs may be able to offer rental relief to related party tenants ATO reminder about salary packaged super Click here for Practice Update April 2020

Practice Update April 2020 covers following points: Coronavirus: Government announces new tax measures ATO’s support measures to assist those affected by COVID-19 New Laws can make directors personally liable for GST New super guarantee amnesty ATO on property investments New vacant land tax measures Click here for Practice Update April 2020

Practice Update March 2020 covers following points: Court confirms ATO’s position on foreign income tax offsets Employer’s requirements and the deductibility of WREs SMS scam targeting natural disaster victims Further STP developments STP and employer clients Valuing car parking fringe benefits Click here for Practice Update March 2020

Practice Update Jan-Feb 2020 covers following points: Lifestyle assets continue to be an ATO audit target Disclosure of business tax debts – Declaration made MYEFO – 2019/20 The ATO’s bush-fire crisis response Click here for Practice Update Jan-Feb 2020

Practice Update December 2019 covers following points: PAYG and deductions for payments to workers STP and superannuation guarantee No CGT main residence exemption for non-residents ATO November 2019 bushfire assistance Security notifications for SMSFs! Click here for Practice Update December 2019

Practice Update November 2019 covers following points: Super Guarantee Opt-Out for High Income Earners Now Law ATO Recommends Updating ABN Details for Natural Disaster Reasons Reporting Asset Disposals for CGT Government Passes Other Superannuation Legislations Super Lookup ‘Status’ will Change if SMSF Annual Returns are Late Taxpayer Liable for excess Transfer balance tax Despite Commutations…

Practice Update October 2019 covers following points: $30,000 Instant Asset Write-Off Federal Court Provides Clarification On the PSI Rules Deductions for a Company or Trust Home-based Business ATO Impersonation Scam Update Using the Cents Per Kilometre Method Measuring the Integrity of the ABR Click here for Practice Update October 2019

Practice Update September 2019 covers following points: “Outrageous” Deductions Rejected ATO Guidance Regarding Incorrect ENCC Determinations ATO Watching for Foreign Income this Tax Time The ATO hits the Road Motor Vehicle Registries Data Matching Program Protocol Click here for Practice Update Sep 2019