31 Jul August Newsletter 2024
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 25 July 2024.
- Regulations coming for “buy now, pay later” market – A Bill currently before Parliament aims to extend the application of the Credit Code to BNPL contracts and establish low-cost credit contracts as a new category of regulated credit.
- Deducting gifts and donations: getting it right at tax time – Not all gifts and donations are tax deductible, and special rules apply in some cases. Make sure you know the rules this tax time.
- Motor vehicle expenses: which method should my business use? – If your business owns or leases a vehicle that’s used for business purposes, it’s essential to keep proper records to ensure you’re entitled to the maximum deduction for your vehicle expenses.
- Time for a superannuation check-up – Your super could be one of the biggest assets you ever have – getting into the habit of checking in regularly can help you stay on top of it and make better choices for your future.
- New SMSF expense rules: what you need to know – New rules focus on “non-arm’s length general expenses” – services provided to your SMSF at below-market prices or for free – and the tax impact could be significant.
Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.
Yours sincerely the Team at Rittwatchman & Associates.
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