September Individual Newsletter

Please see attached the September edition of the Taxwise Newsletter for Individuals.

The topics covered are:

  • Election 2013
  • ATO Compliance FocusLow income earners may still need to lodge a return
  • Medicare Levy rising to pay for DisabilityCare Australia
  • Updated ATO information on private health insurance rebate and Medicare levy surcharge
  • Net medical expenses tax offset phase outDid you receive an employment termination payment in 2013?
  • Are you a Senior or Pensioner and a Foreign resident? Are you entitled to a tax offset?
  • Information for Businesses and Contractors in the Building and Construction Industry
  • Reporting of personal services income and business income
  • Capping of Education Expense Deductions for Employees
  • Proposal to abolish FBT statutory formula for carsAre you a property owner?
  • Letters to directors with outstanding obligations
  • Combatting “Dividend Washing”
  • Tax Avoidance Schemes – Warning to Investors from ATO
  • Employee share scheme rules under reviewTax advice provided by financial planners to be regulated
  • Treasurer promises a 5 year freeze on superannuation changes
  • Trans-Tasman super portability regulations made
  • When a superannuation income stream commences and ceases – TR 2012/5
  • Useful ATO Link

Merit Partners can assist you with any queries you may have on these topics.