by Team Garnet | Oct 14, 2021 | Superannuation
The ATO has announced the extension of various COVID-19 relief for SMSF trustees to the 2021-22 financial year. Due to the ongoing economic impacts of COVID-19 on large parts of Australia, in particular, those States and Territories which have had to endure lengthy...
by Team Garnet | Oct 8, 2021 | Tax News
The ATO is continuing to run the medium and emerging private groups program, if you and your associates have “wealth” over $5m you could be targeted. The ATO runs many compliance programs targeting privately owned and wealthy groups, while the majority of the...
by Team Garnet | Sep 24, 2021 | Business Structures, Small Business
If you’re closing or selling your business, don’t forget about the GST obligations you’ll have to meet including deregistration and lodgment of final returns. If the current prolonged lockdown and economic conditions has prompted you to sell or close your business,...
by Team Garnet | Sep 16, 2021 | Investments, Uncategorized
Thinking of selling your property? Don’t forget you’ll most likely need to obtain a clearance certificate from the ATO. With spring weather warming up and the Australian property market is still running hot in all States and Territories. If you’re thinking of selling...
by Team Garnet | Sep 8, 2021 | Tax News
High-income individuals may receive a Div 293 concessional contributions tax assessment in the mail for the 2018-19 or 2019-20 income years, it is not a mistake. Div 293 tax is imposed on individuals that exceed the high-income threshold of $250,000. The consequence...
