articles
Selling your home? Beware of a partial capital gains tax liability!
With temptation for homeowners to cash in on spiralling house prices around Australia, it is important to turn your mind to whether you may only have a partial capital gains tax (CGT) main residence exemption available to you, and not a full CGT exemption (because of the way you have used your home). Read more...here.
Take care with contribution timing this financial year
Are you planning to maximise your superannuation contribution caps this financial year? If so, it's crucial to get the timing right so your contribution is received by your superannuation fund in the current financial year. Read more...here.
Rental properties: Traps and pitfalls
Following the ATO's claims that nine out of ten residential rental property investors who have been audited have been getting their returns wrong, it might be worth touching on some of the tax traps and pitfalls to be wary of. Read more...here.
Succession planning for family businesses
For most family businesses as well as private groups, succession planning (sometimes known as transition planning) involves considerations around the eventual sale of your business, or the passing of control of it to other family members when you retire. Read more...here.
How myGov can help track your super
Keeping track of your superannuation balance is key as it impacts how much you can contribute to superannuation and whether you are entitled to other superannuation concessions and measures. Read more...here.
you may have received an email like the one below from the tax office
The Tax Office is pushing on with its move towards eliminating communications via the Post. If you lodge any activity statement or related document electronically, whether via us as your tax agent or using the Business Portal then the Tax Office will work on the basis that all future communications related to BASs, IASs, PAYG instalment notices, etc. will be via electronic means. The same result will occur if you link your myGov account to the Tax Office.
If you expect to receive a quarterly BAS/IAS/PAYGI notice and you haven't by two weeks before it is due for lodgement/payment please contact us to confirm your contact details with the Tax Office or to organise the restoration of supply of hard copy statements via the Post.
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