$66.1 billion Stimulus Package: What You Need To Know The Government yesterday released a second, far reaching $66.1 billion stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up...
FTB Hot Spot With the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position. FBT liabilities can trap unwary businesses, some of whom don’t recognise that there can be a tax consequence...
Australian Government Economic Response to the Coronavirus On 12 March 2020, the government announced a package of measures totalling $17.6 billion to help the economy withstand and recover from the economic impact of coronavirus. Here is a summary of each benefit and...
CGT and the family home: expats and foreigners targeted (UPDATE) The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents. Back in the 2017-18 Federal Budget,...
ATO targets ‘lifestyle’ assets The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts. The review, expected to impact 350,000 taxpayers, reaches from the 2015-16 to 2019-20...
Alerts to protect SMSFs from fraud A new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the...
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