Increase ‘small lost threshold’ for super The superannuation (Unclaimed Money and Lost Members) Act 1999 was recently amended* so that, from 31 December 2015, the small lost threshold for super accounts is increasing from $2, 000 to $4, 000. (*) Amended by the tax and superannuation laws amendment (2015 Measures No. 4) Act 2015, which […]
Recent advice regarding LRBAs and SMSFs
By Bottrell Group on January 29, 2016 in Australian Tax Office Updates, Hints & Tips, Interesting Articles, Motivation, The Bottrell Office, Uncategorized
advice LRBAs SMSFs advice LRBAs SMSFs In a recent meeting of the Superannuation Industry Relationship Network (involving the ATO and others in the industry), it has been reported that the ATO wants all SMSFs with non-commercial related party limited recourse borrowing arrangements (LRBAs) to put them on arm’s length terms as soon as possible, and […]
Finding client’s correspondence
By Bottrell Group on January 29, 2016 in Australian Tax Office Updates, Hints & Tips, Interesting Articles, Motivation, The Bottrell Office
Finding client’s correspondence Finding client’s correspondence Editor: The ATO has asked that we (and other professional association) share the following information, regarding their recently published guide on “Finding your client’s correspondence”. This is no doubt thanks to the angst we (and others) have been passing on to them regarding how difficult it has become to keep […]
Declaration for tax and BAS agents
By Bottrell Group on January 29, 2016 in Australian Tax Office Updates, Hints & Tips, Interesting Articles, Motivation, Uncategorized
Declaration for tax and BAS agents The Tax Practitioners Board (TPB) has advised that, from 2016, registered tax and BAS agents will need to complete an annual declaration with the TPB to demonstrate they are meeting their ongoing registration requirements. “Registered tax and BAS agents must submit an annual declaration to the TPB on the […]
NTAA Submission: Proposed Self-education Expenses Cap
NTAA Submission: Proposed Self-education Expenses Cap Editor: On 13 April 2013, the then-Treasurer annouced that, from 1 July, the Government would introduce a $2,000 annual cap on work-related self-education expense deductions This was obviously an alarming proposal that we (and many other professional bodies) were very much against. The Government subsequently released a discussion paper […]
