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DecWe received several questions from attends about whether an SMSF that is 100% in person phase is still required to lodge a Trust Income Schedule with its 2024 SMSF Annual Return. We sought clarification on this issue from the ATO. Specifically, if an SMSF only has exempt current pension income (‘ECPI’) for the 2024 income year (i.e. the fund is 100% in pension phase), does it need to lodge a Trust Income Schedule with respect to trust distributions that it received during the year from a managed investment trust? Based on the Trust Income Schedule instructions (QC 101716) and the SMSF Return instructions 2024 (QC 101714), as the fund only has ECPI, it is not required to complete Section B […]
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SepHow the Serious Financial Crime Taskforce is acting against electronic sales suppression tools. On this page Businesses Illegally Using ESSTs The Serious Financial Crime Taskforce (SFCT) is aware of businesses using electronic sales suppression tools (ESSTs) to underreport their taxable income. With the increased use of digital technologies and online interactions, we are seeing: It has been illegal to produce, supply, possess, use, or promote ESSTs in Australia since October 2018. Taskforce Warning The SFCT is providing a strong warning to businesses about ESSTs. We understand there are sophisticated networks of operators actively developing and marketing these tools to small business owners. They often package them as an “all-in-one complete business solution” with low commissions, website presence, and an online[…]
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SepRead the latest information about our 2024 Public Groups findings reports. We’re continuing to provide transparency with the latest release of our findings reports. This year, our Public Groups findings reports provide insight into large market risks, our programs of work, and engagement with large public and multinational companies. Each report has a separate focus and dataset, detailing information identified through risk analysis and program activities. For the first time, we’re offering new analysis that highlights trends across all reports and their implications for the Public Group population. Summary of Findings Reportable Tax Position (RTP) Schedule Report The RTP Schedule report provides insights into key corporate tax risks in the large market. It includes aggregated disclosures made by large public[…]
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JulWith tax time in full swing, it’s crucial to keep your business secure online by implementing systems and processes that help reduce the risk of a cyber event. It’s also essential to plan for what you’ll do if a cyber-attack occurs. Every Australian business, regardless of size, is a target for cyber-attacks. While there are practical steps you can take to enhance your business’s cyber security, it’s vital to make these steps part of your business habits. This includes safeguarding accounts, protecting devices and information, and preparing your staff to identify cyber threats. To help reduce the risk of a cyber breach: The Australian Signals Directorate, through the Australian Cyber Security Centre, is the Australian Government’s leading authority for cyber[…]
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JulSG缴款的下一个季度截止日期是7月28日。然而，由于该日期为周末，养老金基金必须在7月29日（星期一）之前收到您的付款。请记住按时全额支付并支付到正确的基金。 如果您每季度未按时支付SG缴款，则需要支付养老金担保罚款（SGC）。这比SG缴款金额要高，并且您无法将其作为税收扣除。 从7月1日起，SG税率已上调至11.5%，因此确保您在7月1日或之后为符合条件的员工支付的款项反映新的税率。 对于截至6月30日的季度，在7月1日之前支付的款项适用11%的SG税率。 SG税率将在2025年7月逐步增加到12%。 如果您需要帮助计算在7月1日之后需要为员工和符合条件的承包商支付的养老金金额： 参考：ATO网站 如需进一步信息，请联系Wiselink会计师事务所
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JulATO’s ‘main residence exemption tips’ Reminder of June 2024 Quarter Superannuation Guarantee (‘SG’) Employers are reminded that employee superannuation contributions for the 1 April 2024 to 30 June 2024 quarter must be received by the relevant super funds by 28 July 2024 (which is a Sunday), in order to avoid being liable to pay the SG charge. Notice of Medicare levy exemption data-matching program The ATO will acquire Medicare Exemption Statement data from Services Australia for the 2024 to 2026 income years, including individuals’ full names, dates of birth, residential addresses, entitlement status, and approved entitlement details. The objectives of this program are to (among other things) ensure individuals are correctly claiming an exemption from payment of the Medicare levy[…]
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JunAre you ready for tax time? This might be your last chance to make any tax-deductible purchases before this financial year ends on 30 June. See if there are any tax-deductible items your business needs, or any concessions you can access. Finalise your employees’ Single Touch Payroll (STP) If you have employees, make sure you finalise their 2023–24 STP information by 14 July. This is an important end-of-year obligation and ensures your employees have the right information they need to lodge their income tax return. Remember to finalise all employees you’ve paid in the financial year, even those you haven’t paid for a while, like terminated employees. Check your pay as you go (PAYG) withholding and instalments From 1 July, individual tax rates and thresholds will change. This[…]
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Jun卖房后把钱存进养老金的「缩减规模供款」（downsizer contribution）：谁符合年龄与持有期条件、额度怎么算、为什么它不计入供款上限却会计入转移余额上限，以及申报时点与常见误解。
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JunCheck if and how you can contribute money from the sale of your home into your super fund via a downsizing contribution. accountant Melbourne About downsizer contributions If you are 55 or older, you may be able to contribute up to $300,000 from the proceeds of the sale (or part sale) of your home into your superannuation fund. A downsizer contribution is a non-concessional contribution, but it doesn’t count towards the contribution cap. It will not affect your total superannuation balance until it is re-calculated at the end of the financial year. However, downsizer contributions count towards your transfer balance cap. This cap applies when you move your super savings into retirement phase, and is taken into account in determining eligibility[…]
04
Jun功能货币规则（functional currency）：谁可以选择用澳元以外的货币计算应税收入或税务亏损、什么情况下是强制适用，以及选用之后对税务会计与申报口径的实际影响。
