Taxation

September Newsletter 2020

September Newsletter 2020 701 876 Patrick Kerr

Payments such as JobKeeper and the cash flow boost are measures welcomed by many, however, they can also bring with them some unique taxation issues. We run over what to look for.

Also tackled are claiming tax losses, where vehicles stand in relation to the boosted instant asset write off, the question of liquidity and trusts under COVID-19 conditions, and how SMSFs can best cope with the outcomes from rental relief support measures.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.


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August Newsletter 2020

August Newsletter 2020 1000 365 Patrick Kerr

The JobKeeper payment, which was originally due to run until 27 September, will now continue to be available until 28 March 2021. There will however be some changes to eligibility, as well as a tightening of payment rates. We run through the details.

We also reveal a largely unforeseen danger for insurance cover in the early release of super scheme, and look at the unfamiliar territory, from a tax point of view, that COVID-19 has put property investors.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.


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July Newsletter 2020

July Newsletter 2020 4256 2832 Patrick Kerr

Despite the current COVID-19 constraints, completing your tax return remains a task we can help achieve to your best advantage. We look at some tax tips for the current tax lodgement period. There is also some good news on the instant asset write-off, and a timely reminder about the importance of being covered against cyber crime.

The requirement for corporate entities to hold general meetings has been helped along by allowing this to be completed remotely, and we also remind relevant taxpayers that varying of instalments, if need be, can help you out of a tight spot.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.


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June Newsletter 2020

June Newsletter 2020 4256 2832 Patrick Kerr

We also consider the issue of passive income and where this figures when qualifying for JobKeeper. There has also been a temporary change made to bankruptcy laws because of the economic fall-out of COVID-19.

We also consider the issue of passive income and where this figures when qualifying for JobKeeper. There has also been a temporary change made to bankruptcy laws because of the economic fall-out of COVID-19.

Also, as tax time does not simply disappear because of a certain virus, we offer some end-of-financial-year last minute tax tips, a warning on issues stemming from property development undertaken by SMSFs, and how resident or non-resident status affects tax outcomes.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter


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May Newsletter 2020

May Newsletter 2020 4256 2832 Patrick Kerr

April Newsletter 2020

April Newsletter 2020 5017 3345 Patrick Kerr

March Newsletter 2020

March Newsletter 2020 4256 2832 Patrick Kerr

If you own certain high-end assets, it may be prudent to make sure your tax affairs are in order. The ATO has asked dozens of insurance companies for policy details over certain asset values to check up on these taxpayers’ tax obligations.

We also look at the realities of accessing some of your retirement savings early, and examine the sorts of expenses you can claim when an investment property is damaged or destroyed. There is also a new obligation regarding CGT when selling taxable property, and we also have a warning about staying safe online.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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February Newsletter 2020

February Newsletter 2020 4256 2832 Patrick Kerr

The bushfire season has highlighted the very central importance that volunteers play in Australia, but along with these essential roles there can also be tax outcomes to consider.

We also sketch out the essentials to know about the First Home Super Saver scheme, succession planning for family businesses, and the possible tax offsets available in the superannuation arena. Discretional trust distributions are also briefly explained.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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December Newsletter 2019

December Newsletter 2019 4256 2832 Patrick Kerr

Sometimes small business owners pass up the at-times lucrative small business CGT concessions simply through not knowing that they are eligible to claim them. Answering a few basic questions can clear this up.

We explain how the “personal property security register” can help manage the risk that comes with owning certain assets. We also take a closer look at the future of e-invoicing, and provide a basic “explainer” for personal services income.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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November Newsletter 2019

November Newsletter 2019 4256 2832 Patrick Kerr

Sometimes, essential tax records are missing or even destroyed. But all is not lost, as there is a “plan B” that can be put into affect, so we run through the options to help your tax outcome.

The investment strategy of any SMSF is not “set-and-forget”, and if not re-visited from time to time, could create problems with the ATO. We look at the essentials. We also touch on how a small business can make an immediate deduction for low cost assets, and with Christmas party plans most likely imminent, we provide you with three wise FBT tips.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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