This month we look at: the warning on 'sloppy' SMSF asset valuations, the ATO's assault on professional services, and the review of non-compete clauses and worker restraints.
- Warning on SMSF Asset Valuations
The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. For trustees of SMSFs, where asset values are consistently reported at the same value, it’s likely your SMSF will be flagged for closer scrutiny by the ATO. Pages 1-3. Read More
- The ATO's Assault on Professional Services Practices
The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Page 4. Read More
- Non-Compete Clauses and Worker Restraints Under Review
A new issues paper from Treasury’s Competition Review questions whether non-competes and other restraints are limiting job opportunities and movement. Page 6. Read More
Quote of the month:
“Experience is one thing you can’t get for nothing.”
Oscar Wilde
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