The August Issue we run through the work-related expenses at the top of the Tax Office hit list. 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 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.
And, 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.
*Remember to book your appointment to have your tax return prepared and reference our Checklists on our home page to assist us in gathering information for your tax returns.