Our latest eNewsletter includes information on the following topics:

Cheaper child care on the horizon – From 1 July 2023, the rate of child care subsidy that many Australian families are entitled to receive will increase.

Have you checked for lost and unclaimed superannuation? – The ATO has recently reported there is now $16 billion in lost and unclaimed super, and is urging Australians to check their MyGov account to see if some of the money is theirs.

FBT reminder: electric cars exemption – Your business may be able to get an FBT exemption for certain eligible electric vehicles made available for the private use of your employees.

Home charging rate guideline for EVs released – With the increasing popularity and uptake of electric vehicles, the ATO has now released a draft compliance guideline on calculating electricity costs when an EV is charged at an employee’s or individual’s home.

Property investors beware: new data matching program – A new ATO data matching program will obtain rental property data from various financial institutions for the 2021–2022 to 2025–2026 income years.

Super tax concession changes: consultation – The Federal Government recently released a consultation paper on its proposal to reduce super tax concessions for individuals with super balances over $3 million, including those with SMSFs.

Superannuation and independent contractors: fresh Full Federal Court guidance – The High and Full Federal Courts have recently made important decisions which clarify the test for determining whether a worker is an employee or an independent contractor.