April Newsletter 2023

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April Newsletter 2023

We are pleased to supply you with the latest edition of Client Alert, which contains information on a number of important developments up to and including 27 March 2023.

Cheaper child care on the horizon – From 1 July 2023, the rate of child care subsidy that many Australian families are entitled to receive will increase.

FBT reminder: electric cars exemption – Your business may be able to get an FBT exemption for certain eligible electric vehicles made available for the private use of your employees.

Tax-records education direction measure now in place – As an alternative to imposing financial penalties for business record-keeping non-compliance, the ATO now has the power to require the business to complete an approved record-keeping course.

Have you checked for lost and unclaimed superannuation? – The ATO has recently reported there is now $16 billion in lost and unclaimed super, and is urging Australians to check their MyGov account to see if some of the money is theirs.

ASIC: insurance in super improvements – The Australian Securities and Investments Commission has re-reviewed the insurance arrangements of selected super funds after identifying issues in 2019.

Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.

Yours sincerely

RittWatchman & Associates

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