Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

SMSF return due date extended

SMSF return due date extended

The Tax Office has extended to 30 June 2018 the due date for lodging self-managed superannuation fund (SMSF) annual returns for the 2016-17 income year. Thomson Reuters Weekly Tax Bulletin (Issue 3, 19 January 2018) reported that the ATO made this decision in recognition of the major choices that SMSF trustees need to make in this first financial year of […] … Read More

Are you tax-ready in 2018?

Are you tax-ready in 2018?

Did you know that most landlords can no longer claim a deduction for travel costs connected with an investment property? So that trip to the Gold Coast to inspect your rental unit is no longer deductible. There are also restrictions on claiming depreciation on second-hand assets used in a rental property. There are exceptions, in […] … Read More

35 tax and related Bills stuck in Parliamentary logjam

35 tax and related Bills stuck in Parliamentary logjam

Federal Parliament might have gone for the year, but there are a substantial number of tax and related Bills that are still before Parliament in respect of which debate will not resume until 2018. They include some important amendments affecting a wide range of taxpayers. Issue 52 of Thomson Reuters 2017 Weekly Tax Bulletin lists 35 such […] … Read More