News

Expats Return to Australia – Travel Expenses

  One of the conditions of deductibility of travel expenses, is that the expense is not a private or domestic nature.  

Profession to be relied on for post-JobKeeper turnover certificates

  Accountants will soon be tasked with providing certificates to businesses being weaned off JobKeeper to enable them to cut employee hours or change their duties under temporary Fair Work changes.  

Update of Superannuation contribution rules from July 1, 2020

  The rules around Superannuation contribution change almost every year, so it is important that taxpayers know what these changes mean to them.  

Expats & COVID-19 Impacts on tax residency

  The COVID-19 pandemic has resulted in many Australian expatriates living and working overseas returning to Australia.  

Economic recovery could be slower than anticipated: RBA

  The Reserve Bank of Australia has warned the economic recovery from the COVID-19 pandemic remains uncertain, with its latest figures being worse than those predicted three months earlier.  

High Court rules in favour of employers on personal leave accruals

The High Court of Australia has preserved the long-standing industry practice regarding personal/carer’s leave accruals in a significant ruling that has been welcomed by employers that were potentially set to face a substantial back-pay bill.  

SMSFs urged to act on compliance issues ahead of tougher penalties

  SMSFs with outstanding compliance issues should consider making a voluntary disclosure while the ATO still has a more flexible approach in place and before they implement tougher admin penalties, says a law firm.

A beginner’s investment guide to long-term wealth

  It's often said that starting out early on one's investing journey will deliver good long-term results.  

ATO confirms important issue on pension payments

  The ATO has confirmed only payments made to a member after 24 March in excess of the reduced minimum pension can be treated as a lump sum, even where a valid election was previously in place, says the SMSF Association.  

How SMSF trustees navigated COVID-19 volatility

  Last week, Vanguard and Investment Trends launched the 2020 SMSF Investor Report. This year's report surveyed over 3000 SMSF trustees on their investment priorities and industry outlook, providing an insight into how trustees navigated through COVID-19 volatility.

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