Monthly Newsletter

Welcome to our December newsletter!
 
This edition includes pieces on:


  • Give yourself a super gift this Christmas - We provide a super to-do list - including consolidating your super, reviewing your investment strategy, making extra contributions, checking your insurance and more to help boost the amount of super you will have in retirement.
  • Lost or destroyed tax records? Don't panic! - Natural disasters, moving house, technology failures - all of these often unforeseen events can result in the loss or destruction of important documents. This article provides some leads on how to recover lost information - including contacting the ATO, your employer, and of course your friendly tax professional.
  • Taken goods for private use? Here's the latest values - It's common practice for business owners to take goods from their trading stock for private use. The ATO has released values for these goods for the 2023-24 income year. Be aware that the ATO may accept greater or lesser values - but you must provide evidence to back up your valuation.
  • Two main residences is possible - This article looks at the circumstances in which it's possible to access the main residence for two properties. It's to do with overlapping ownership for a period of up to six months. The conditions which must be met are complex so you will need the help of your tax adviser. 
  • Don't ignore those tax debts - the ATO won't! - While the ATO was keen to assist businesses during covid, that period is well and truly over and it is taking a more robust approach to collecting debts. Contact us to see if you are eligible to use the ATO's Simplified Debt Restructuring program.
  • The taxation of super death benefits - The tax treatment of superannuation death benefits can be complex - is the beneficiary a tax dependant? What are the components of the benefit? Will it be paid in a lump sum or income stream? We can help you to ensure your death benefits will be distributed in the most tax-effective manner.


Click Here to read the December 2023 Newsletter.


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