We are pleased to supply you with the latest edition of our Client Alert, which contains information on a number of important taxation developments:
- ATO Rental Property Blitz – The ATO has launched a full-on assault on rental property owners who incorrectly report income and expenses.
- ‘OnlyFans’ Tax Risk Warning – The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice to the booming industry.
- $20k Small Business Energy Incentive – In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000.
Other updates and reminders:
- Access to home guarantee scheme expanded to friends and siblings
- Question of the month: Company loan to pay down the mortgage
- Right to super to be enshrined in National Employment Standards
- PM: Proposed tax changes to increase housing supply
- ATO: New JobMaker Hiring Credit claim period now open