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August 2018 Archives - Tax with Integrity

Monthly Archive for: ‘August, 2018’

ATO dispels top tax time myths to clients as clampdown rolls out

Top Tax Time Myths

Ahead of one of its biggest deductions crackdowns, the tax office has released a series of common mistakes and misunderstandings taxpayers make at tax time.

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Guidance for SMSFs on transfer balance reporting

Guidance Smsf

          The Australian Taxation Office has released further guidance on when SMSFs need to report events affecting their members’ transfer balance accounts (by making a transfer balance account report, or TBAR) for the purposes of the $1.6 million pension cap. From 1 July 2018, SMSFs that have any members with a total superannuation balance of $1 …

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ATO issues alert on super, tax scams

Ato Scam Warning

Warning:  Identify theft scams 

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Salary sacrifice integrity

Salary Sacrifice

            Legislation has also been introduced to prevent employers from using an employee’s salary sacrifice contributions to reduce the employer’s own minimum SG contributions. Some employers who offer salary sacrifice into superannuation, calculate the minimum SG contribution on the “reduced” salary rather than the “package”. This change would apply to working out employers’ SG shortfalls …

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Understanding the evolution of blockchain and cryptocurrencies

Understanding Blockchain

While it’s unlikely that traditional accounting will be replaced by a blockchain method in the near future, accountants should keep a keen eye for any developments and be prepared to deal with new standards in accounting for cryptocurrencies.

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Update to Australia’s vital statistics

Australia Statistics

        Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer Housing Taxes Climate   Access all this data here.

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