Up until this year, the Tax Office’s compliance focus has tended, in part, to look at certain professions for problems or mistakes made by taxpayers, but a change of tactic this Tax Time sees it focus instead on particular expense claims. We run through the work-related expenses at the top of the Tax Office hit list.
We also look at some considerations for anyone thinking about taking a pension from their SMSF, as well as having a look at how a “transition-to-retirement” arrangement could be beneficial.
Lastly, if you’re selling a business, the GST “going concern” concession should not be an assumed bonus, so we run over the rules to make sure you don’t miss out. We also look at public rulings and how these can relate to your own tax affairs.
Please contact this office for clarification, or further advice, regarding any of the topics covered in this newsletter.
Click to Download De Luca Partners August 2015 Newsletter
Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.