As a result of the impending removal of the COVID-19 lockdown restrictions, our office will be reopening on Monday the 23rd of November. Thankyou for your understanding during this interesting time. Take care and stay safe.
The government has temporarily changed laws on bankruptcy to help protect people who are facing unmanageable debt as a result of the economic impacts of COVID-19. If you are in financial difficulty, application can be made for temporary debt protection, which prevents recovery action by unsecured creditors, for six months.
The ATO, as regulator of selfmanaged superannuation funds, has reported an increase in the number of SMSF trustees entering into arrangements involving buying and then developing property (either with related or unrelated parties) that is subsequently sold or leased. June 2020 Trustees should be aware that the ATO
Many residential rental property owners have had their rental income affected by COVID-19. As a result of this income year not being business as usual, the ATO has provided answers to some typical scenarios that may crop up in this area for tax time. June 2020 Q:
So what happens from a tax point of view when a person leaves Australia part-way through the income year? How is the income they derived before that time taxed? And how is any income they derived after that time taxed (whether from Australian or foreign sources)? June 2020
This financial year is almost over,but there are still effective strategiesyou may be able to employ to makesure you pay the right amount of taxfor the 2019-20 year and maximiseany refund entitlement. This is still, ifnot more so, the case in the currentCOVID-19 environment. June 2020 While the