SMSF 2022 Year End – House Keeping

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CRYPTOCURRENCY IN THE ATO SPOTLIGHT The ATO has specified that gains from cryptocurrency are an area of focus again this year. For SMSFs however, managing cryptocurrency is not simply an…

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SMSF – 2022 Year End Brief & What is New

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DateChanges and actionsPre 30 June 2022 Ensure that contributions are made and received by 30 June. Ifcontributions are by EFT, ensure that the contribution is recognised in thefund’s bank account…

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2022 Trust Year End – Changes & Actions

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DateChanges and actionsPre 30 June 2022 Trustee resolutions need to be in place to be able to distribute trust income forthe 2021-22 financial year to beneficiaries (at the latest). Ensure…

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Individuals – 2022 Changes & Actions

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DateChanges and actions1 July 2021 Work related COVID-19 test expenses tax deductiblePre-30 June 2022 Pay superannuation to deduct contributions in the current financial year ATO recommences offsetting tax refunds or…

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Business – 2022 Changes & Actions

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BUSINESS DateChanges and actions21 May 2022 FBT return and payments due if applicable unless lodging electronically through atax agent25 June 2022 FBT return and payments due if lodging electronically through…

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ATO ramps up heat on directors

Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee…

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Fuel tax credit changes

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The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022…

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