September Newsletter 2019

tax news | views | clues

September Newsletter 2019

We are pleased to supply you with the Spring edition of Client Alert, which contains information on a number of important taxation developments for the month.

Warning to watch out for myGov tax scams

The government’s Stay Smart Online website warns there has been a surge in scammers impersonating myGov and the ATO to trick people into giving them money or personal details


ATO has refunded $10 billion so far

The ATO says that $10 billion has been refunded to Australian taxpayers so far this tax time, an increase of over $2 billion from this time last year.


ATO watching for undisclosed foreign income this tax time

The ATO reminds taxpayers who receive any foreign income from investments, family members or working overseas to make sure they report it this tax time.


Unusual claims disallowed

Almost 700,000 taxpayers have claimed $2 billion of “other” expenses including non-deductible items such as dental costs, child care and Lego sets.


ATO contacting small employers about Single Touch Payroll

The ATO is writing to small employers who have yet to start reporting or apply for a deferral, to remind them of their STP obligations.


Disclosing business tax debt information: ATO consultation

The law is being changed to let the ATO report business tax debt information to credit reporting bureaus where businesses avoid their tax debts.


Cross-border recovery of taxation debts

An updated practice statement outlines options available for the ATO to recover a tax debt where the debtor is outside Australia.


ATO superannuation focus areas

The ATO has released its presentation to the 2019 Association of Superannuation Funds of Australia National Policy Roadshow outlining emerging focus areas for 2019–2020.


Compassionate release of super only available in limited cases

The ATO has recently seen a significant increase in queries about compassionate release of super.


Personal services income rules: unrelated clients test

The Federal Court has set aside an AAT decision that income a business analyst derived through a company was subject to the PSI rules.


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

No Comments

Post A Comment