July Newsletter 2024

tax news | views | clues

July 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 24 June 2024.

  • Tax time scams be on guard – Using unsolicited contact via SMS, email or on social media, ATO impersonators frequently offer refunds or assistance in resolving tax issues or suggest suspicious activity on a taxpayer’s account.
  • Tax time 2024: claiming working from home expenses – Claiming work-related expenses is an area where taxpayers frequently make mistakes, and the ATO has flagged it a primary area of focus for tax time 2024.
  • ATO focuses on rental property owners’ tax returns – ATO data shows the majority of rental property owners are continuing to get information in their income tax returns wrong, even with most using a registered tax agent to complete their tax returns.
  • Tax time reminders for small businesses from the ATO – The ATO has reminded small businesses of a number of areas they should be thinking about in the lead-up to preparing their tax return.
  • Scam alert: fake ASIC branding on social media – ASIC reminds consumers that it does not endorse or promote investment training or platforms, doesn’t cold call consumers, and is not associated with any investment offerings.

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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