11

Jan

Advice under development of superannuation

[4042] Ordinary meaning of the term ’employee’ [updated] We are reviewing several products that currently provide guidance on the meaning of the term ‘employee’ to reflect the direction provided in the High Court decision in Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd [2022] HCA 1:

20

Dec

A deductible gift recipient (DGR)-deductions for Christmas Gifts

When a gift or donation is deductible You can only claim a tax deduction for a gift or donation to an organisation that has the status of a deductible gift recipient (DGR). To claim a deduction, you must be the person that gives the gift or donation and it must meet the following 4 conditions: DGRs sometimes authorise a business[…]

19

Nov

Losses in crypto investments for SMSFs

Over the last few income years, the ATO has seen some instances of SMSF trustees losing their crypto asset investments. These losses have been caused by: 1.    crypto scams, where trustees were conned into investing their superannuation benefits in a fake crypto exchange; 2.   theft, where fraudsters would hack into trustees’ crypto accounts and steal all their[…]