1 November 2018
From 5 to 23 November 2018, the ATO will be sending SMS text messages to individuals and businesses entitled to a refund who have provided incorrect bank account details in their tax return. You will receive a text directly from the ATO if a refund bounce occurs.
Many people are understandably wary about text messages and emails requesting bank details, considering the number of hoaxes and scams that abound these days.
It is important to be aware that ATO texts during this period are not a hoax and updating your bank details will ensure you receive your refund. BUT be warned, scammers are likely to impersonate the same SMS so you will need to carefully check the text for legitimacy.
10 May 2018
On Tuesday the 8th May, the Federal Treasurer, the Hon, Scott Morrison handed down the Coalition Government's national budget for the 2018-19 Financial Year. Overall the stated focus of this budget is "sticking to our plan for a stronger economy". This is a budget preceding an election so a number of measures within this budget are designed to improve the Turnbull Government standing with voters. Most notably, there has been a key focus on delivering wins for voters in the form of tax cuts and more money in pockets. The budget will result in a forecast cash deficit of $14.5million for the 2018-19 financial year.
31 March 2017
The amended superannuation legislation will come into effect on 1 July 2017. The superannuation changes require a profound adjustment to superannuation strategy and planning and like any change, highlight the importance of expert guidance from accountants and advisers.
10 March 2017
Five questions you need to ask yourself
After months of uncertainty and intense lobbying on the controversial aspects of the federal government’s superannuation reform, the amended superannuation legislation was finally passed in late November.
The superannuation changes present a profound adjustment to the strategic landscape for Self Managed Superannuation Funds (SMSFs). Like any change, they highlight the importance of good guidance from accountants and advisers.
14 December 2016
Changes to the superannuation system announced by the government in the May 2016 Budget that was passed by both houses of Parliament has now received royal assent.
This Bill includes the reforms to the superannuation system proposed in the May 2016 Federal budget as well as the changes to non concessional contributions caps announced in September 2016. Measures covered by this Bill include: