Having an online presence can be essential for many businesses, especially as nowadays most consumers hit the keyboard first when looking for services or supplies. But the proper tax treatment of the expenditure in setting up and then running a website require careful consideration.
With the SMSF annual tax return deadline looming (it’s October 31), we run over all the information and requirements generally expected from trustees. As well, there are some new obligations SMSF trustees will need to cover.
You may have heard of the Tax Office’s performance benchmarks, so it could be helpful to get to know how the Tax Office uses industry benchmarks – and how to stay under the benchmark radar. We run through the mechanics. There has also been a delay, again, of reform to the taxation of trusts income.
Should you require more information regarding any topic touched upon in this newsletter, please feel free to contact MBS to discuss the details.
Disclaimer & Copyright: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. The Copyright is owned exclusively by Taxpayers Australia Inc (ABN 96 075 950 284)