Accounting News
- Businesses ghosting the ATO targeted in debt collection blitz
Clients failing to engage must “act now” or face rapid escalation of enforcement action, the Tax Office has warned agents.
- Claiming the tax-free threshold: getting it right
If you’re an Australian resident for tax purposes, you don’t have to pay income tax on the first $18,200 you earn each year, from any source. This is called the “tax-free threshold”.
- Aussies tired of ‘dodgy tax criminals’, warns ATO
The Tax Office has revealed that 250,000 tip-offs have been received about tax avoidance and dishonest behaviours since July 2019.
Financial Planning News
- ATO reviewing all new SMSF registrations to stop illegal early access
The ATO said it is reviewing and assessing all new SMSFs before they can receive a registered or complying status on Super Fund Lookup (SFLU) as part of a program to stop illegal early access schemes.
- Compliance documents crucial for SMSFs
Failure to create, execute, perform and retain documents for an SMSF can leave a fund and its trustees unable to provide compliance evidence, warns a specialist legal expert.
- Investment and economic outlook, October 2024
The latest forecasts for investment returns and region-by-region economic outlook.
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