October Newsletter 2022

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October Newsletter 2022

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 23rd September 2022.

Bonus deduction for employee training proposal – The government has proposed a temporary “skills and training boost” initiative giving small businesses access to a bonus 20% deduction on certain employee training.

Crypto reforms: change in consultation approach – Treasury is aiming to identify how cryptocurrency assets and related services should be regulated.

Sale of principal home: extension of exemption – The government intends to extend the assets test exemption under social security for principal home sale proceeds which a person intends to use to purchase a new principal home.

ASIC’s focus on super complaints handling – The regulator has found indicators of significant compliance issues and areas that need to be strengthened.

Compliance with super laws: ATO’s approach – The ATO mainly encourages trustees to comply with the super laws, but there are also occasions when stronger responses are required.

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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