July 2021 Newsletter

July 2021 Newsletter

July 2021 Newsletter 4256 2832 Website Admin

In this issue:

  • The ATO has seen a lot of mistakes being made on business tax returns over the years, but has kept a record of these so we can all learn from other people’s errors. Laundry expenses can be a legitimate tax deduction, but claims need to follow certain rules, which we sketch out.
  • Every SMSF will come to the end of its functioning life at some stage, but the way in which a fund is wound up can leave members with differing retirement benefit outcomes. And if this tax time’s end result is a tax bill, not a refund, there may be a straightforward explanation.

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

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