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Hot Issues
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
Cryptocurrency audits tipped to increase this EOFY
Australia by numbers – Update
$2.4m lost to tax scams, ACCC reports
No GST on digital currency
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
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Articles
FBT Reminder - Odometer Reading
Australian Taxation office (ATO) provides SMSF Disaster Relief
Youth Allowance - Australian Taxation Office (ATO) Initiative
February 2011 Newsletter
Commonwealth Education Payments
Flood Victims - Recovery Resources
Tax Lodgements for Flood Affected Taxpayers
Bucket Donations to Flood Relief

January 2011 Newsletter

Personal Property Securities (PPS)
Current Depreciating Asset Issues
Budget Promises Fade Away
Flood Victims - Recovery Resources
.

Whilst Queensland and Victorian flood victims were impacted dramatically and the public response has been outstanding, it will be a long, long time to recover.

There will be a number of government resources and co-ordinated efforts to provide benefits in kind, possibly some red tape reduction (although it is unlikely that many of last years fire victims would agree) and it will be an expensive time for most.

Unfortunately, there will always be red tape and victims are encouraged to be persistent and patient and not resort to the easy way out.

Government support, government benefits, council help etc., will typically come without strings, but it will be frustrating to satisfy the bureaucratic mumbo jumbo that goes with our modern society.

It would be unwise to put expenses or capital items on credit cards or borrow from a bank, although naturally there will be a temptation to do so.  Worse still would be applying for early benefits from personal retirement funds.  Hardship provisions for withdrawal from super funds remain the same and generally do not allow withdrawal to meet a short term financial difficulty.

Charitable organisations will be examining every possible way to assist victims and will probably have learnt from the fires last year.  A year after those devastating fires, a significant proportion of the public funds raised still has not been allocated or spent.

Our suggestion – persevere, persevere, persevere, with the bureaucracy and the charities and eventually the money will come.

 



20th-February-2011