Up to 9 in 10 ‘other’ expenses adjusted as ATO reveals dodgy claims
Close to 90 per cent of claims in ‘other’ deductions were adjusted last year as the ATO reveals a number of unusual claims it disallowed, including a $58,000 wedding.
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Downsizer Super Contribution
Australians who are 65 years old or older may make a downsizer contribution into their superannuation of up to $300,000 from the proceeds of seeling their home.
Tax payers to receive beefed up tax returns.
Great news!! The Tax Office will now start processing beefed-up tax refunds after the government’s $158 billion tax cut plan was passed in full.
10 top global corporations since 1998
A very interesting, graphical, summary of the monsters of our global economy. Fascinating stuff!!
Catch-up Contributions
July 2019 sees the introduction of the new catch-up contribution rules, which allow people with less than $500,000 in super to make extra concessional contributions up to their previously unused $25,000 annual cap.
Life Insurance
Important: A major change to life insurance in many super funds.
Community tip-offs trigger ATO visits
Around 700 small businesses in Western Australia are set to receive door knocks from the ATO next month after the agency received intelligence around possible black economy behaviour.
Australia at a glance
The following link takes you to a site that sets it all out in black and white, though a strong coffee will help!
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