May Newsletter 2023

tax news | views | clues

May 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 24 April 2023.

Is your content making you income? – The ATO has warned content creators that they need to be aware of their income tax and GST obligations.

Home charging rate guideline for EVs released – With the increasing popularity and uptake of electric vehicles, the ATO has now released a draft compliance guideline on calculating electricity costs when an EV is charged at an employee’s or individual’s home.

Property investors beware: new data matching program – A new ATO data matching program will obtain rental property data from various financial institutions for the 2021–2022 to 2025–2026 income years.

Super tax concession changes: consultation – The Federal Government recently released a consultation paper on its proposal to reduce super tax concessions for individuals with super balances over $3 million, including those with SMSFs.

Superannuation and independent contractors: fresh Full Federal Court guidance – The High and Full Federal Courts have recently made important decisions which clarify the test for determining whether a worker is an employee or an independent contractor.

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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