With the Federal Election now decided, taxpayers should be prepared for several legislative changes regarding tax and superannuation in the near future. Although specific details are yet to be filled in, there are several known policies and announced plans that the Coalition outlined in the run-up to election day. We run through the likely reforms to expect in the tax and super landscape.
While it is not impossible to claim the cost of travelling from home to workplace, the rules and regulations for doing so can be a veritable minefield – so some considered guidance is a must. Another area through which certain taxpayers will need to tread carefully is regarding the CGT 50% discount – especially as there has been a change to the rules for foreign and temporary residents.
Also in this issue of our newsletter, we look at the tax deductions that are available to footy players, and the effective use of death benefit nominations for estate planning within an SMSF.
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)