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Hot Issues
$20m boost for SME clients looking to exporting
Work-Related Expenses
ATO updates crypto guidance
ATO zones in on hundreds of newly created reserves
Senate passes $20,000 instant asset write-off extension
Victorian Vacant Property Tax
Director Penalty Notices
ATO set to pounce on undisclosed income streams
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
What is Bankruptcy?
Update of Australia's vital statistics
ATO speaks on risk factors, surveillance triggers for FY19
ATO’s corporate residency guidance cops backlash
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
Salary sacrifice integrity
Understanding the evolution of blockchain and cryptocurrencies
Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Articles archive
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Quarter 2 of 2015
Articles
Change to Early Access Rules
Capital Gains Tax – which year?
SMSFs may be missing out on allowable deductions
Checklist for Employers Year-end
Year-end Tax Planning – Small Business
Year-end Tax Planning – Trusts
Reminders and Tax Strategies for SMSFs pre-year end
Year-end Tax Planning – Individuals
Tips and traps for acquiring SMSF assets from related parties
Overtime Payments May Eliminate Claims for Unfair Dismissal
ACCC issues scam warning
SME Dispute Resolution
Land Tax – Victoria
R&D incentives at risk
ATO adds ‘hot issue’ to its SMSF target list
Additional Super Contributions Not Appropriate for all
Issues arising from an underpaid pension
Salary and Superannuation after the death of an employee
IPA calls for zero pc tax rate
Budget 2015 - some professional opinions
Australian Government - Budget 2015
Looming end to SMSF Borrowings?
ATO warns SMSFs on franking credits scheme
Lump Sum Payments - Employer Reporting
Small business tax cuts 'not enough', says IPA
Year-end Tax Planning – Individuals

 

A checklist of a few items to examine further, before year-end.



             


  • Are there some small transactions that collectively might help either reduce your income to a lower tax bracket or reduce the adjusted taxable income to enable access to offsets or liability to surcharges?
  • Ensuring personal superannuation contributions are received and cleared by 30th June.  
  • Are there any capital gains that might be reduced by converting an unrealised capital loss into a realised capital loss?
  • Are there any expenses that may be paid shortly that can be paid prior to year end?  Repairs to a rental property are a typical example.
  • Donations paid in June have slightly better tax impact than donations paid in July and remember philanthropic arrangements are akin to deciding how your taxes are spent.
  • Do you have any Higher Education Loan Programme or similar debts that could be reduced with a discount, rather than a compulsory deduction on the tax return?
  • Remember the business loss rules now include $250,000 “drop dead” test.  Whilst you might pass all the other tests, if the adjusted taxable income is more than $250,000 the business loss will quarantined.

 


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25th-June-2015