Practice Update – November 2023

Practice Update – November 2023

Tax issues for businesses that have received a support payment  Taxpayers who have received a government support grant or payment recently to help their business recover from COVID-19 or a natural disaster should check if they need to include the payment in their...
Practice Update – September 2023

Practice Update – September 2023

Appointing an SMSF auditor The ATO reminds SMSF trustees that they need to appoint an approved SMSF auditor for each income year, no later than 45 days before they need to lodge their SMSF annual return. An SMSF’s audit must be finalised before the trustees lodge...
Practice Update – July 2023

Practice Update – July 2023

Court penalises AMP $24 million for charging deceased customers  The Federal Court has found that four companies that are or were part of the AMP Group breached the law when charging life insurance premiums and advice fees from the superannuation accounts of more...
Practice Update – April 2023

Practice Update – April 2023

New 15% super tax to apply from 1 July 2025 The Government recently announced it will be imposing a 15% additional tax on individuals that have more than $3 million in superannuation. The new measure is expected to commence from 1 July 2025 (i.e., the start of the...