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Tax Office statistics point to uptick in SMSF establishments

Tax Office statistics point to uptick in SMSF establishments

by Shared by SMSF Adviser | Oct 13, 2020 | News

The ATO’s SMSF Quarterly Statistical Report for June 2020 indicates that net establishments for SMSFs for the 2019–20 income year could be as high as 18,540, which would bring the total number of SMSFs to 593,375. Read more at the SMSF Adviser. 
Victorian businesses left on edge amid reopening uncertainty

Victorian businesses left on edge amid reopening uncertainty

by Shared by MyBusiness | Oct 13, 2020 | News

Under step 3 of the current Victorian roadmap for reopening the economy, businesses in major industries can reopen and resume operations. Read more at MyBusiness. 
Taxpayer granted full release of $130k tax debt on serious hardship grounds

Taxpayer granted full release of $130k tax debt on serious hardship grounds

by Shared by Accountants Daily | Oct 13, 2020 | News

Mr Cox, who was previously a subcontractor in the building industry and was currently receiving the Newstart Allowance, had accumulated $134,302 in income tax debts since 2001. Read more at the Accountants Daily.
Clients warned on hasty decisions on super after new tax cuts

Clients warned on hasty decisions on super after new tax cuts

by Shared by SMSF Adviser | Oct 12, 2020 | News

In an online article, Heffron senior SMSF specialist Alex Denham explained that reductions in personal income taxes can have an indirect impact on superannuation. Read more at the SMSF Adviser. 
ATO confirms end of cash flow boost measure

ATO confirms end of cash flow boost measure

by Shared by MyBusiness | Oct 12, 2020 | News

Although small business owners were aware that the cash flow boost measure was coming to an end, questions have been circulating about whether the boost will be immediately cut off or slowly phased out. Read more at MyBusiness. 
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