Trustees of SMSFs should be aware that COVID relief measures that were previously in place have now ended. The relief measures applied for the 2019-20, 2020-21 and 2021-22 years but […]
On Tuesday, 25 October 2022, Treasurer Jim Chalmers handed down the 2022-23 October Federal Budget, his 1st Budget. While a Budget was handed down on 29 March 2022, this second Budget for 2022-23 updates economic forecasts and […]
In a bid to support pensioners and in conjunction with the announcement to reduce the eligibility age for downsizer super contributions, the government has introduced a measure to extend the […]
If you earn income from an investment property, you may be entitled to a deduction for any borrowing expenses. These are expenses directly incurred in taking out a loan for […]
As a part of its strategy to address the current skills shortage as well as to future-proof Australia’s workforce by building better trained and more productive workers, the government has […]
According to the latest ASIC report into retail investors, the uptake in cryptocurrency has skyrocketed among Australian retail investors. It found that 44% of those surveyed reported holding cryptocurrency, making […]
At the start of the COVID-19 pandemic in 2020, the previous government passed a measure to increase the small business threshold from $10m to $50m for the purposes of most […]
To reduce underperforming MySuper products and introduce greater transparency and consequences for funds, the “Your Future, Your Super” (YFYS) reforms were introduced by the previous Coalition government and came into […]
Changes to clarify the residency tests for individuals are expected to be released in September 2022. This will be in the form of a Draft Ruling by the ATO that […]
Just as with previous income years, tax time 2022 is no different, the ATO has again cited rental property income and deductions as one of the 4 key focus areas, […]
