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ATO targets lifestyle assets
By WSCAdmin | Created on February 10, 2020
The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts.
CGT and the family home expats and foreigners excluded from tax exemption
By WSCAdmin | Created on February 10, 2020
This does not mean that you must have diversity in your fund. A lack of diversity might be a strategic decision by the trustees but you need to be able to prove that the strategy was an active decision.
Bushfire support and assistance
By WSCAdmin | Created on February 10, 2020
Ten million hectares, lives lost, wildlife on the brink, billions in lost revenue and clean-up costs. For many, returning life to normal is a long way off this summer. We summarise the help available to those impacted by the bushfires.
Alerts to protect SMSfs from fraud
By WSCAdmin | Created on February 10, 2020
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 authorised contact and members.
The Super Guarantee timing trap for employers
By WSCAdmin | Created on December 3, 2019
How employers are being caught out by the timing of superannuation guarantee payments.
Christmas Parties & Gifts 2019
By WSCAdmin | Created on December 3, 2019
With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event.
STP and superannuation guarantee
By WSCAdmin | Created on December 3, 2019
As a result, it has notified 2,500 employers that they have paid their SG contributions late during 2019. Due-date reminders were also sent to a further 4,000 employers.
Bushfire relief from ATO obligations
By WSCAdmin | Created on December 3, 2019
The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires.
No CGT main residence exemption for non-residents
By WSCAdmin | Created on December 3, 2019
The restrictions to this CGT exemption will apply to taxpayers who are a non-resident at the time of the relevant CGT event (i.e., generally as at the contract date).
Super guarantee opt-out for employees with multiple employers
By WSCAdmin | Created on December 3, 2019
Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer.
