Each year the Tax Office gains access to more records stored on the databases of financial institutions and other organisations, and can use this information to ensure taxpayers’ reporting obligations are up to scratch. This time the Tax Office is looking at people who have sold items online.
Landlords will sometimes offer incentives to entice tenants into a lease, but the tax treatment of such incentives varies, depending both on the incentive on offer and who is receiving it.
We also look at the proposed “Single Touch Payroll” initiative planned for businesses in the near future, the particular problems that SMSFs face when splitting assets upon divorce, and a new online tool that can reunite you with any misplaced superannuation savings.
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)