August/September eNewsletter

Our latest eNewsletter includes information on the following topics:

ATO small business benchmarks updated:The ATO has announced the latest benchmarks for small businesses.

SMSF early voluntary disclosure service for contraventions: The ATO has introduced a new SMSF early engagement and voluntary disclosure service.

New tax governance guide for SMSFs: The ATO has released a new tax governance guide that can be used by SMSFs.

Property developer entitled to capital gain tax concession: A property developer has been successful in arguing that a property sold for a profit had been acquired as a capital asset.

Help the kids buy homes, but watch for land tax: A father has been unsuccessful in a land tax dispute in arguing that he was a trustee in relation to homes bought for his adult children.

Changes to $500,000 lifetime super cap confirmed: The Federal Treasurer says there will be some changes to the proposed $500,000 lifetime cap on non-concessional super contributions.

ATO flags retirement planning schemes of concern: The ATO has launched the Super Scheme Smart initiative to warn people about problematic retirement planning schemes.

Deductibility for gifts to clients and airport lounge membership fees: The ATO has clarified its views concerning businesses’ gifts to clients and employers’ payment of airport lounge membership fees for employees.

Bonsella News: Updates from the Bonsella Team.