Accounting News
- Time for a superannuation check-up?
The new financial year has begun, and with it have come some important changes to superannuation from 1 July 2024. With these changes coming into effect, it’s a good time to give your super a check-up.
- Scam alert: fake ASIC branding on social media
The Australian Securities and Investments Commission (ASIC) has issued a scam alert warning consumers that there has been an recent increase in the use of ASIC’s logo in social media scams. ASIC’s warning to consumers covers three main areas of concern.
- Millions of landlords the target of expanded ATO crackdown
The Tax Office will acquire property management records to clamp down on taxpayers misreporting rental income and deductions.
Financial Planning News
- ATO encourages trustees to use voluntary disclosure service
The ATO is encouraging SMSF trustees to use its voluntary disclosure service to inform it early if a contravention has occurred.
- Beware of terminal illness payout time frame
If an SMSF member is diagnosed with a terminal illness, it is best not to close out the fund before the insurance has been paid, says a specialist.
- Capital losses can help reduce NALI
Capital losses can be used to reduce or eliminate NALI tax exposures in relation to a tainted capital gain, says a legal expert.
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