Blog

Self education expense threshold to be removed

With the introduction of a recent Bill, the government is finally following through on its promise to remove the $250 non-deductible threshold for self-education expenses. While self-education expenses are generally deductible if there is a sufficient connection with the taxpayer’s income producing activities, the amount of deduction is currently limited by s 82A of the...
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New stapled super changes coming for employers

Employers beware, from 1 November 2021, if you’re hiring new employees, there may be an extra step involved in determining which super fund employee contributions need to be paid into. Currently, when a new employee starts a new job, they are eligible to choose the super fund that their super guarantee contributions go to. If...
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Codifying obligations of super trustees

The government is seeking broad changes to address the under-development of the retirement phase of the superannuation system. This has come about as a result of a recent government review into the purposes of the retirement system which noted that substantial improvements should be made in how the super system delivers adequate incomes in retirement. With...
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Tax time 2021: rental property pitfalls

Rental property owners beware, this tax time, the ATO will be expanding the rental income data collected directly from third-party sources including sharing economy platforms, rental bond authorities, and property managers. This was a part of a new and extended data-matching program which aims to gather detailed information about the property and owners for the...
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