We are pleased to supply you with the latest edition of Client Alert, which contains information on a number of important taxation developments up to and including 23 September 2022:
- Bonus deduction for employee training proposal – The government has proposed a temporary “skills and training boost” initiative giving small businesses access to a bonus 20% deduction on certain employee training.
- Crypto reforms: change in consultation approach – Treasury is aiming to identify how cryptocurrency assets and related services should be regulated.
- Sale of principal home: extension of exemption – The government intends to extend the assets test exemption under social security for principal home sale proceeds which a person intends to use to purchase a new principal home.
- ASIC’s focus on super complaints handling – The regulator has found indicators of significant compliance issues and areas that need to be strengthened.
- Compliance with super laws: ATO’s approach – The ATO mainly encourages trustees to comply with the super laws, but there are also occasions when stronger responses are required.
Client Here to download our October Client Alert.