May 2018 Newsletter

Please click on the following link to view our monthly accounting/tax newsletter for May 2018:

May Newsletter

We would like to highlight the following articles in this month’s newsletter:-

ATO closely examines work-related car expenses – the May 2018 newsletter highlights that the ATO has announced it will be closely examining claims for these expenses in 2018 tax returns due to taxpayers making mistakes or deliberately lodging false claims for work-related car expenses. Please ensure you discuss with us what you are required to do if you wish to claim a deduction for work-related car expenses as we need to ensure that the record keeping is correct.

ATO assessments issued for excess super pension balances – The ATO has started issuing excess transfer balance (ETB) tax assessments to self managed super funds (SMSF) members – if you receive one of these ATO letters (which is unlikely), please contact us.