Non-Concessional Contributions (no tax deduction)

Client alert re superannuation changes

Client Alert – Protecting your super reforms from 1 July 2019 To protect the super balances of all Australians being eroded by unnecessary fees and costs, the Federal Government has introduced the “Protecting Your Super” reforms which passed parliament on 18 February 2019. This new legislation will apply from 1 July 2019. It includes cancelling insurance for inactive members,…

reporting

ATO audit targets

Will your business be audited? How the ATO identifies audit targets The ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business ‘looks like’ in different industries. If your business falls outside of those benchmarks, the ATO is likely to take a…

17 commonly overlooked ATO tax deductions

To keep a healthy bottom line, businesses need to be smarter and sharper every financial year. It’s a good time to discuss ATO tax deductions – especially those deductions often missed. 1. Prepay expenses With tax deductions, every little bit counts. Prepaying your expenses can attract a tax deduction that is commonly overlooked. You can…