September Newsletter 2022

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September 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 19th August 2022.

  • Beware of payment redirection scams – ASIC has warned small and micro businesses to be alert for payment redirection scams, which have caused some of the highest losses to businesses in 2021.
  • TPAR due soon: is your business ready? – The taxable payments annual report for 2021–2022 is due to be lodged by 28 August 2022.
  • Tax time focus on rental properties – Rental property income and deduction mistakes continue to be one of the main focus areas for the ATO this tax time.
  • SMSF COVID-19 relief measures have now ceased – The measures covered residency requirements, rental reductions and waivers, rental deferrals, in-house assets, loan repayments, limit recourse borrowing arrangements, and related party transactions.
  • Thinking of ditching your SMSF? – Whatever your age, if recent market conditions, cost or the amount of administration involved are getting to be too much and you would like to wind up the SMSF, there are several steps involved.

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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